Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Stocks Negative Midday

Published 2024-09-30, 08:19 a/m
© Reuters.  Stocks Negative Midday
US500
-
DJI
-
IXIC
-
GSPTSE
-
SPCDNX
-

Baystreet.ca - Canada's main stock index fell on Monday, hurt by mining stocks, as investors awaited the Federal Reserve Chair Jerome Powell's speech later in a day to get clues on U.S. policy outlook.

The TSX Composite Index fell 78.4 points to open Monday at 23,878.42.

The Canadian dollar slipped 0.02 cents to 74 cents U.S.

As all eyes were on Jerome Powell's comments near 2 p.m. ET, economists have said a mistake in setting interest rates during the last phase of Fed's inflation battle could impair the country's economy over the next year.

In corporate news, the Toronto-Dominion Bank (TSX:TD) is nearing a possible guilty plea on criminal charges that its U.S. unit failed to curb money laundering, the Wall Street Journal reported on Friday. The lending giant began the week off 29 cents to $85.39.

International Petroleum was among the worst hit, down 55 cents, or 3.3%, to $16.04, while First Majestic Silver (TSX:AG) gave up 52 cents, or 2.7%, to $18.43, and Aya Gold & Silver sank 96 cents, or 5.3%, to $17.32.

ON BAYSTREET

The TSX Venture Exchange skidded 6.34 points Monday to 576.80.

Eight of the 12 TSX subgroups were in lower country, with gold slumping 1.9%, materials losing 1.7%, and consumer discretionary stocks down 0.6%.

The four gainers were led by health-care, up 1%, energy, 0.6% more energetic, and real-estate, 0.4% more solid.

ON WALLSTREET

Stocks sat near flat on Monday, the final trading session of what’s shaping up to be a winning month and quarter.

The Dow Jones Industrial Average fell 109.49 points by noon ET to 42,203.51

The S&P 500 index regrouped 40 points to 5,738.578

The NASDAQ Composite regained 9.47 points to 18,129.06.

Month to date, the Dow has tacked on 1.7% and the S&P 500 is up 1.5%. The tech-heavy NASDAQ has advanced 2.2% in September.

The Dow has led the way this quarter, climbing more than 8%. The S&P 500 is ahead 5% and the NASDAQ has added 2%, since July began.

Nvidia (NASDAQ:NVDA) is on track to notch its first losing quarter since 2022, underscoring the changing views on mega-cap technology after capturing investor attention for more than a year.

Looking ahead, October has a troubling history for markets. It’s known as a time of extreme volatility with some of the more notable Wall Street drawdowns occurring during the month.

Prices for the 10-year Treasury sagged to raise yields to 3.78% from Friday’s 3.75%. Treasury prices and yields move in opposite directions.

Oil prices gained 90 cents at $69.08 U.S. a barrel.

Gold prices flopped $13.00 to $2,655.10 U.S. an ounce

This content was originally published on Baystreet.ca

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.