Stocks Wallow by Noon

Canada’s main stock index came off its two-year highs on Monday, pulled down by energy and technology shares, as investors indulged in profit-taking ahead of a key inflation report from the United States due later in the week.

The TSX Composite decreased 55.94 points noon EDT Monday to 21,681.59. Clocks throughout much of North America moved ahead over the weekend to Daylight Saving Time.

The Canadian dollar slid 0.06 cents at 74.10 cents U.S.

Crypto miner Bitfarms slipped 35 cents, or 9.8% to a month-plus low of $3.24, after it announced an at-the-market equity offering worth $375 million.

In corporate updates, shares of Silvercrest Metals advanced 15.4% to the top of the TSX, after the non-gold precious metals miner announced its fourth-quarter results. Silvercrest shares popped $1.41, or 18.9%, to $8.88.


The TSX Venture Exchange dipped 2.8 points to 572.94.

All but three of the 12 subgroups remained negative midday, with information technology stumbling 1%, while real-estate and industrials each lost 0.6%.

The three gainers proved to be gold, shining 1.7% brighter, materials, up 0.6%, and consumer staples, up 0.1%.


Stocks fell Monday as the rally that brought the major averages to record highs cooled off. Investors also looked ahead to fresh U.S. inflation data.

The Dow Jones Industrials faltered 71.16 points to pause Monday for lunch at 38,651.53.

The S&P 500 settled 12.39 points to 5,111.30.

The NASDAQ slumped 32.53 points to 16,052.58.

Information technology stock Super Micro Computer dropped more than 5%, while chipmaker Nvidia swung between gains and losses in another day of choppy trading. Both moves come as investors question if stocks tied to artificial intelligence have more room to run after monster rallies.

Meta also struggled, with the Facebook parent tumbling nearly 4%. Outside of tech, pharmaceutical stock Eli Lilly dropped more than 4%.

Traders are preparing for February’s consumer and producer price indexes — which are set to release Tuesday and Thursday, respectively. These are among the last major economic reports before Federal Reserve leaders convene for their March policy meeting.

Prices for the 10-year Treasury lost ground, raising yields to 4.09% from Friday’s 4.08%. Treasury prices and yields move in opposite directions.

Oil prices inched up nine cents to $78.10 U.S. a barrel.

Gold prices surged $6.40 to $2,191.90. U.S. an ounce.

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