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Indexes Slide by Noon Monday

Baystreet.ca
Stocks in Toronto tailed off a mite on Monday, as declines in energy shares and gold producers weighed ...

Stocks in Toronto tailed off a mite on Monday, as declines in energy shares and gold producers weighed on markets as commodity prices fell.

The S&P/TSX Composite Index shed seven points to greet noon at 15,570.81

The Canadian dollar gave back 0.16 cents to 77.89 cents U.S.

The energy group retreated, weighed by Suncor Energy, which fell 0.7% to $41.47, and Canadian Natural Resources, down 0.2% at $38.83.

The gold subsector further pressured the market, as Iamgold Corp fell 2.9% to $6.34, while Eldorado Gold Corp lost 3.1% to $1.41.

In Toronto, financial shares helped support the market. Bank of Nova Scotia was one of the biggest lifts on the index, edging up 0.4% to $81.03.

ON BAYSTREET

The TSX Venture Exchange skidded 4.85 points to 824.05

The 12 TSX subgroups were split down the middle between positive and negative, as consumer staples gained 0.4%, utilities inched up 0.3%, and information technology eked up 0.1%.

The half-dozen laggards were weighed most by energy, falling 0.6%, financials, poorer by 0.3%, and real-estate, off 0.1%.

ON WALLSTREET

The Dow Jones industrial average fell on Monday, erasing earlier gains, as investors worried a trade war could develop after President Donald Trump implemented tariffs on steel and aluminum imports.

The 30-stock index dished off 98.32 points to 25,237.42, after rising more than 100 points, with Boeing, Caterpillar and United Technologies all falling more than 2%. The Dow rose earlier as shares of Apple and Goldman Sachs reached all-time highs.

The S&P 500 gained 0.23 points to 2,786.80, with industrials as the worst-performing sector.

The NASDAQ composite Index stayed buoyant 37.19 points to 7,598.00, to reach an intraday record as Apple recovered its losses from last month's correction.

The U.S. Federal Reserve is scheduled to meet next week, with most market participants expecting the central bank to raise interest rates. Market expectations for a March rate hike stood at 86% on Monday

In corporate news, Andrew Liveris will step down from his post as executive chairman at DowDuPont in April. Jeff Fettig, co-lead independent director at DowDuPont, will take over the role upon Liveris' departure.

Analysts at Jefferies said in a note Monday that Steven Spielberg's "Ready Player One" movie could be a catalyst for both Nvidia and Advanced Micro Devices. In a note to clients, they said: "We believe that the movie will drive sales of VR headsets that require high-performance GPUs from NVDA and AMD."

Prices for the benchmark 10-year Treasury note were unchanged, keeping yields at Friday’s 2.89%.

Oil prices dropped $1.13 a barrel to $60.91 U.S.

Gold prices subtracted $5.50 to $1,318.50 U.S. an ounce.