Baystreet.ca - Stocks in Canada’s largest centre clung tenaciously to gains Tuesday, with health-care issues leading the pack.
The TSX Composite Index gained 45.1 points to greet the closing bell Tuesday at 22,824.67.
The Canadian dollar nicked ahead 0.02 cents at 72.17 cents U.S.
Health-care issues led the winners, with Tilray (TSX:TLRY) soaring 18 cents, or 7%, to $2.75, while Sienna Senior Living (TSX:SIA) perked 13 cents to $15.64.
In consumer staples, Primo Water (TSX:PRMW) took on 63 cents, or2.1%, to $30.25, while Maple Leaf Foods (TSX:MFI) jumped 38 cents, or 1.5%, to $25.10.
In utilities, Hydro One (TSX:H) leaped 78 cents, or 1.8%, to $43.09, while Emera (TSX:EMA) climbed 83 cents, or 1.7%, to $49.81.
Tech issues did not fare so well, though, with Converge Technology (TSX:CTS) shedding a dime, or 2.4%, to $4.14, while Constellation Software (TSX:CSU) flopped $102,28, or 2.4%, to $4,2146.47.
In consumer discretionary stocks, Linamar (TSX:LNR) dipped 83 cents, or 1.2%, to $67.05, while Pet Valu Holdings (TSX:PET) handed back 34 cents, or 1.2%, to 427.40.
ON BAYSTREET
The TSX Venture Exchange dropped 1.44 points to close at 572.93.
All but two of the 12 TSX subgroups were positive, with health-care sprinting 2.6%, while consumer staples hiked 0.7%, and utilities took on 0.6%.
The lone laggards were information technology, dipping 0.9%, while consumer discretionary stocks fell 0.1%.
ON WALLSTREET
The S&P 500 fell Tuesday, dragged lower by declines in mega-cap tech stocks, as investors braced for quarterly reports from names in that cohort. Traders also set their eyes on Washington as the Federal Reserve began its latest policy meeting.
The Dow Jones Industrials grew 203.66 points to 40,743.59.
The much-broader index slid 27.11 points to 5,436.44.
The NASDAQ tumbled 222.78 points, or 1.3%, to 17,147.42.
Nvidia (NASDAQ:NVDA) shares pulled back by more than 5%, while Microsoft (NASDAQ:MSFT) shed 1%. Other tech-related giants such as Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX) and Apple (NASDAQ:AAPL) also declined.
It is a big earnings week for mega-cap tech names. Meta (NASDAQ:META) Platforms, Amazon and Apple are on deck for later this week.
The earnings season has been a solid one thus far. Of the more than 230 S&P 500 names that have reported, about 80% have beaten earnings expectations.
CrowdStrike (NASDAQ:CRWD) shares fell about 11.5% after media reports that Delta Air Lines (NYSE:DAL) hired attorney David Boies to seek damages from the cybersecurity company and Microsoft after an outage this month led to thousands of flight cancellations. Shares of CrowdStrike are down more than 40% this month, putting the stock on track for its worst month ever.
Merck shares dropped roughly 10% as weaker-than-expected guidance for the full year overshadowed a strong second-quarter report.
Procter & Gamble lost roughly 5.6% after its quarterly revenue fell short of Wall Street’s estimates due to disappointing demand in China.
The Fed’s two-day policy meeting began Tuesday, with investors hoping Chair Jerome Powell will signal the timing and number of rate cuts expected in the next few months. Traders have priced in a 100% chance for a September rate reduction
Prices for the 10-year Treasury gained slightly, with yields falling to 4.14% from Monday’s 4.17%. Treasury prices and yields move in opposite directions.
Oil prices decreased 71 cents at $75.16 U.S. a barrel.
Gold prices shone brighter $27.50 to $2,405.30