TSX with Another Down Session

Equities in Canada’s largest centre saw their losing streak continue Tuesday, as the banking sector and other financial concerns took some blows.

The TSX dropped 93.66 points to answer the closing bell at 19,691.21.

The Canadian dollar slid 0.07 cents to 73.76 cents U.S.

Financials took the biggest wounds, as Nuvei sank 71 cents, or 3%, to $22.79, while goeasy stumbled $3.36, or 2.6%, to $124.09. Among consumer staples, George Weston handed back $1.89, or 1.3%, to $148.29, and Empire Company dipped 37 cents, or 1.1%, to $34.66.

In the health-care sector, Bausch Health Companies slumped 27 cents, or 2.4%, to $11.19, while Sienna Senior Living lost seven cents to $11.54.


Gold stocks tried to even out the score, with Seabridge pulling things up 36 cents, or 2.4%, to $15.65, while Alamos Gold acquired 30 cents, or 2%, to $15.68.

In materials, Filo Mining jumped 58 cents, or 2.8%, to $21.42, while Capstone Mining picked up 11 cents, or 1.8%, to $6.12.

Tech issues also pulled their weight, as Softchoice hiked a dollar, or 6.6%, to $16.20, while Celestica progressed $1.06, or 3.8%, to $29.11.

Canada's big bank results this week are expected to bring forth challenges faced by lenders in setting aside more funds for bad loans in a tough economy that has also led to a slowdown in deal-making and forced borrowers to rethink about fresh mortgages.


The TSX Venture Exchange handed back 3.1 points to 582.24.

Seven of the 12 TSX subgroups finished the day in the red, weighed by financials down 1.2%, while consumer staples and health-care were each off 0.7%%.

The five gainers were led by gold, ahead 0.8%, while information technology climbed 0.4%, and materials made their way north 0.2%.


Stock indexes slipped Tuesday as the momentum seen in the previous session fizzled, and declines in bank shares offset gains in tech names.


The Dow Jones Industrials dumped 174.66 points to conclude Tuesday’s trading at 34,289.03.

The S&P 500 index faded 12.12 points to 4,387.65. Hasbro was the top performer in the S&P 500 Tuesday afternoon.

Shares advanced 6.9% in midday trading after Bank of America raised its price objective on the toymaker. The Wall Street firm said Hasbro will get a boost in 2024 from royalties collected from its recent digital game launch in Monopoly Go.

The tech-heavy NASDAQ index managed to hang onto gains of 8.28 points to 13,505.87.

The financial sector was recently down 0.8%, making it the worst-performing sector of the S&P 500. KeyCorp and Comerica dropped nearly 4% each. Big bank JPMorgan Chase also fell 2.1%.

Dick’s Sporting Goods tumbled 24% and Macy’s fell by 13%, on cautious full-year forecasts. On the other hand, major tech-related names Netflix and Alphabet climbed.

Home sales declined at a faster pace than expected in July as prices pushed higher, the National Association of Realtors reported Tuesday.

Existing sales dropped 2.2% from June, against the Dow Jones estimate for a 0.2% decline. Sales totaled 4.07 million, against the estimate for 4.15 million, and were off 16.6% from a year ago.

Prices for the 10-year Treasury were a mite higher, reducing yields to 4.33% from Monday’s 4.34%. Treasury prices and yields move in opposite directions.

Oil prices fell 47 cents to $80.25 U.S. a barrel.

Gold prices inched higher $3.20 to $1,926.20 U.S. an ounce.