Investing.com — At the close in Toronto, the S&P/TSX Composite declined 0.02%, down by a modest 5 points as a slide in tech offset gains in resource stocks.
Wall Street's major indices traded more deeply in the red, as weakness in megacaps weighed on the technology-heavy Nasdaq.
Market sentiment has remained cautious ahead of U.S. non-farm payrolls data, and testimony from Fed Chair Jerome Powell this week.
Canadian markets meanwhile will be closely watching for the Bank of Canada's interest rate decision on Wednesday. The BoC is expected to keep rates on hold, however traders will be closely parsing commentary for any hints of a dovish tilt that may boost the case for a rate cut in April rather than June.
In a preview note from Desjardins, analysts note that "While a rate cut is not in the offing just yet, Canadian central bankers might feel more comfortable delivering a dovish message this week since markets are far from aggressively pricing in rate cuts."
Tech stocks were the biggest losers on the TSX today, with Shopify (TSX:SHOP) sinking to a 2-month low, while miners gained support from gold prices hitting an all time high.
The biggest gainers of the session on the S&P/TSX Composite were Torex Gold Resources Inc (TSX:TXG), which rose 6.61% or 1.07 points to trade at 17.25 at the close. Topaz Energy Corp (TSX:TPZ) added 5.85% or 1.19 points to end at 21.54 and Dundee Precious Metals Inc (TSX:DPM) was up 5.13% or 0.50 points to 10.25 in late trade.
Biggest losers included Lithium Americas (TSX:LAAC) Corp (TSX:LAC), which lost 8.56% or 0.63 points to trade at 6.73 in late trade. Kinaxis Inc (TSX:KXS) declined 6.47% or 9.95 points to end at 143.85 and Descartes Systems Group Inc (TSX:DSG) shed 5.98% or 7.34 points to 115.39.
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All currencies Canadian Dollar unless noted otherwise.