Stocks cooled off Tuesday from the heights they achieved in recent days, as resource and staple stocks weighed heavily. Manufacturing and car figures also worked into the equation.
The TSX Composite Index took a header of 144.71 points Tuesday from Monday’s all-time high to 27,054.14
The Canadian dollar dropped nine cents at 72.87 cents U.S.
In company news, U.S. crypto miner Riot Platforms on Monday reported beneficial ownership of 10.29% in Canadian bitcoin miner Bitfarms, whose shares ended down nine cents, or 6.1%, to $1.39.
Gold miner Lundin Gold fell $1.25, or 1.8%, to $67.63, Alamos Gold wilted 38 cents, or 1.1%, to $35.98 and Agnico Eagle Mines was down 35 cents to $163.40.
Grocer Loblaw went south $3.45, or 1.5%, to $220.58, while George Weston shares handed back $4.79, or 1.8%, to $264.43.
Utilities tried to lift things back up, with Brookfield Renewable Partners units strengthened $2.22, or 6.3%, to $37.29, while Northland Power soared 43 cents, or 1.9%, to $23.35.
In telecoms, BCE hiked 39 cents, or 1.2%, to $33.10, while Rogers stock acquired 42 cents to $45.95.
Macroeconomically, the Consumer Price Index rose 1.9% year-over-year in June, up from a 1.7% increase in May. On a seasonally adjusted monthly basis, the CPI rose 0.2% in June.
Statistics Canada also reported manufacturing sales decreased 0.9% in May, driven by declines in the petroleum and coal product and machinery subsectors.
New motor vehicle sales totaled 194,524 in May, an increase of 5% from May 2024.
ON BAYSTREET
The TSX Venture Exchange slid 3.77 points to 782.77.
All but two of the 12 TSX subgroups were lower, with gold dulling 1.4%, consumer staples descending 1.3%, and information technology clicking lower by 0.8%.
The two gainers were utilities, up 0.5%, and telecoms, nosing up 0.3%.
ON WALLSTREET
The Dow Jones Industrial Average fell Tuesday as worries over U.S. inflation and a mixed bag of big bank earnings dragged the blue-chip index lower. The Nasdaq Composite, meanwhile, got a boost from gains in Nvidia.
The 30-stock index plummeted 436.36 points, or 1%, to wrap up Tuesday at 44,023.29.
The S&P 500 index swooned 24.8 points to 6,243,76.
The NASDAQ Composite moved into the green 37.47 points to 20,677.80, lifted by a 4% rise in Nvidia shares after the chip company said it hopes to “soon” resume deliveries of its H20 GPU sales to China.
Wells Fargo beat earnings, but a reduction in net interest income guidance sent shares lower by more than 5%.
Shares of JPMorgan Chase edged lower even though the bank posted better-than-expected second-quarter results driven by strong trading and investment banking revenue.
Asset manager BlackRock slipped about 5% on a quarterly revenue miss.
Citigroup bucked the negative trend in financials, rising more than 4% after the bank topped second-quarter estimates.
The consumer price index in June increased 0.3% on the month, putting the annual inflation rate at 2.7%, matching a consensus poll from Dow Jones.
So-called core CPI, which excludes food and energy prices, grew 0.2% month over month, slightly less than expected. Year over year, it expanded by 2.9%, matching estimates.
Prices for the 10-year treasury stumbled, boosting yields to 4.49% from Monday’s 4.43%. Treasury prices and yields move in opposite directions.
Oil prices lost 29 cents to $66.69 U.S. a barrel.
Gold prices lost $21.90 to $3,337.20 U.S. an ounce.
