Baystreet.ca - Canada's main stock index fell on Tuesday as losses in crude prices weighed on energy-linked stocks, while investors awaited the Bank of Canada's (BoC) monetary policy decision later in the week.
The TSX Composite Index remained negative by afternoon, 37.28 points, to 22,835.37.
The Canadian dollar lost 0.03 cents to 72.64 cents U.S.
Financial services firm Goeasy announced the pricing of a previously declared offering of senior unsecured notes and upsized it to $200 million. Goeasy shares hiked $4.64, or 2.4%, to $196.85.
Elsewhere, among individual stocks, Canfor (TSX:CFP) Corporation shares fell 41 cents, or 2.8%, to $14.46 after forest products company said CEO Don Kayne would retire by the year-end.
ON BAYSTREET
The TSX Venture Exchange slipped 0.37 points to greet afternoon EDT Tuesday at 581.68.
All three of the 12 TSX subgroups fell, with energy off 1.2%, materials down 0.7%, and gold dulling 0.5%.
The three gainers proved to be information technology, up 0.4%, communications, edging up 0.2%, and consumer staples, better by 0.1%.
ON WALLSTREET
The S&P 500 edged higher Tuesday, with traders readying for earnings reports from major companies, after the benchmark posted its best day in more than a month.
The Dow Jones Industrials galloped 93.29 points to 40,508.73.
The much-broader index gained 16.76 points to 5,581.47.
The NASDAQ hiked 89.44 points to 18,097.01.
Wall Street continued assessing the latest second-quarter earnings reports, with Google-parent Alphabet (NASDAQ:GOOGL) and Tesla (NASDAQ:TSLA) due to report after the bell. Those reports will mark the Street’s first look at how major tech-related names fared over the past three months.
General Motors (NYSE:GM) posted second-quarter results that easily beat analyst expectations but shares dipped 4%. UPS missed on the top and bottom lines, sending the stock down more than 12%.
Earnings season is off to a strong start. About 20% of S&P 500 companies have posted second-quarter results, with 80% of those names beating expectations
Prices for the 10-year Treasury gained ground, lowering yields to 4.23% from Monday’s 4.26%. Treasury prices and yields move in opposite directions.
Oil prices dipped $1.81 at $76.59 U.S. a barrel.
Gold prices jumped $10.90 to $2,405.60.