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Stocks Clear Breakeven… Just!


Markets in Toronto were mostly flat by the closing bell Tuesday, as gains in gold stocks were offset by financial and health-care downturns.

The TSX Composite hung onto gains of 4.11 points to close Tuesday at 20,036.77.

The Canadian dollar picked up 0.18 cents at 73.67 cents U.S.

Gold stocks proved the champion among the gainers, as B2Gold soared 27 cents, or 6.4%, to $4.51, while Barrick Gold reached skyward $1.16, or 5.1%, to $23.71.

In materials, Capstone Copper acquired 33 cents, or 6.3%, to $5.60, while K92 Mining grabbed 30 cents, or 5.4%, to $5.89.

In the energy field, Canadian Natural Resources climbed $1.71, or 2%, to $88.76, while IPCO advanced 27 cents, or 2%, to $14.03.

Financials let the side down, though, as Bank of Nova Scotia shares dropped $2.79, or 4.7%, to $57.46, while National Bank shares let go of $2.01, or 2.2%, to $88.18.

In health-care issues, Tilray sank three cents, or 1.2%, to $2.39, while Sienna Senior Living lost nine cents to $10.86.

Communications were also on the down side, most notably, Rogers, sinking 45 cents to $58.03, while BCE docked 26 cents to $53.31.

ON BAYSTREET

The TSX Venture Exchange climbed 10.66 points, or 2%, to 540.24.

Eight of the 12 TSX subgroups were lower, with financials settling 0.9%, while health-care fell 0.5%, and communications were off 0.4%.

The four gainers were led by gold, popping 4.1%, materials, up 2.3%, and energy, surging 1%.

ON WALLSTREET

Stocks rose Tuesday, resuming their November rally, as comments from a Federal Reserve official raised hope that the central bank may not need to raise interest rates further.

The Dow Jones Industrials came off its their highs of the day, but still gained 83.51 points to conclude Tuesday at 35,416.98.

The S&P 500 forged higher 4.46 points to 4,594.89.

The NASDAQ recovered 40.73 points to 14,281.76.

Boeing helped lift the Dow on Tuesday, adding 1.4%, while Dow-member retailer Nike added 0.7% and Walmart gained 1.2%. The S&P 500 got a lift from Newmont Corporation, ahead 6.2%, and Synchrony Financial, higher by 5.1%.

On the earnings front, CrowdStrike is expected to report earnings after the bell.

Fed Governor Christopher Waller had expressed confidence earlier Tuesday that policy is “currently well positioned” to slow the economy and bring inflation back to 2%. His commentary comes ahead of the Federal Open Market Committee’s policy meeting on Dec. 12-13. Markets generally expect the committee to keep its key lending rate steady.

Monday’s modest retreat comes near the end of November’s strong trading month, which concludes with Thursday’s close. The Dow looks to end November up 7.2%, and S&P 500 is on pace to finish the month 8.6% higher. The technology-heavy NASDAQ has climbed 11.1% so far in November.

Prices for the 10-year Treasury jumped, lowering yields to 4.33% from Monday’s 4.39%. Treasury prices and yields move in opposite directions.

Oil prices climbed $1.56 to $76.42 U.S. a barrel.

Gold prices jumped $29.20 to $2,041.60.



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