Brand New State Ok promo

Stocks Take Breather to Start out Monday

Equities in Canada’s largest centre fell on Monday as lower crude oil prices pulled energy stocks lower, while investors braced for a barrage of global economic data and domestic big bank earnings later this week.

The TSX Composite faded 32.99 points to kick off Monday at 20,070.12.

The Canadian dollar handed back 0.05 cents at 73.32 cents U.S.

On the company front, First Quantum Minerals said Sunday the miner intends to start an arbitration process with Panama, the Central American nation’s trade ministry. Moreover, the miner said two people died at its Zambian operations last weeks.

Shares in the miner docked 31 cents, or 2.3%, to $13.00.

HUT 8 Mining led industrial stocks downward, falling five cents, or 1.9%, to $2.58.

Energy had trouble getting untracked, too, with PrairieSky Royalty down 44 cents, or 1.8%, to $24.10.

Gold tried to make a game of it, though, with Equinox Gold climbing 23 cents, or 3.4%, to $6.93.


The TSX Venture Exchange inched up 0.07 points to 532.40.

All but three of the 12 TSX subgroups were lower, with industrials off 1%, energy, hesitating 0.7%, and utilities sliding 0.6%.


Stocks were little changed Monday as Wall Street looks to build on four straight positive weeks for the equity market.

The Dow Jones Industrials slid 48 points to begin Monday at 35,342.15.

The S&P 500 dished off 7.16 points to 4,552.18.

The NASDAQ skidded 7.39 points to 14,243.47.

Wall Street is coming off the fourth straight winning week for all three major averages, as stocks have rallied since the 10-year Treasury yield retreated from the 5% mark it briefly topped in late October.

The rally has come despite warnings from some U.S. retailers that consumer spending is weakening, although Black Friday e-commerce spending jumped 7.5% from a year earlier. Some e-commerce stocks rose on Cyber Monday, with shares of Amazon hiking 1.3% and Shopify jumping 4%.

New homes sold at a slower than expected pace in October while still showing improvement from a year ago, the Commerce Department reported Monday.

Sales of new single-family homes totaled a seasonally adjusted annual rate of 679,000, a 5.6% decline from September and below the Dow Jones forecast for 725,000. The September level saw a sharp downward revision to 719,000, some 40,000 lower than the initial estimate. October’s total represented a 17.7% increase from the same period in 2022.

Prices for the 10-year Treasury faded, raising yields to 4.43% from Friday’s 4.48%. Treasury prices and yields move in opposite directions.

Oil prices dipped eight cents to $75.46 U.S. a barrel.

Gold prices hiked $9.30 to $2,012.30.

Source link

About The Author

Scroll to Top