TSX Slides (Slightly) Down Chimney

Equities in Toronto edged lower on Tuesday in thin trading ahead of Christmas as gains in gold stocks were offset by losses in health-care and financial shares.

The TSX Composite Index slipped 31.61 points to begin Christmas Eve day at 17,128.71

The Canadian dollar sank 0.03 cents to 76.03 cents U.S.

CIBC cut the price target on Semafo to $3.65 from $5.50. Semafo shares acquired three cents, or 1.1%, to $2.67.

Cooperation with the Organization of the Petroleum Exporting Countries would continue "until the market requires it", Russian Energy Minister Alexander Novak, said in an interview on Monday.

Markets in Toronto close at 1 p.m. ET for Christmas Eve and is closed on Wednesday for Christmas and Thursday for Boxing Day. Friday is a regular trading day.

ON BAYSTREET

The TSX Venture Exchange added 1.64 points to 555.57

All but three of the 12 subgroups were lower, as health-care dropped 0.8%, while information technology and financials each fell 0.5%

The three gainers were co-led by gold and materials, up 0.7% each and energy gained 0.5%.

ON WALLSTREET

Stocks were flat on Tuesday, hovering near their record highs in muted Christmas Eve trading.

The Dow Jones Industrials stumbled 17.48 points to 28,534.05

Read: The Next Billion Dollar Trend In Entertainment

The S&P 500 subtracted 1.12 points to 3,222.89.

The NASDAQ slid 3.15 points to 8,942.50.

The three major averages all posted record closes on Monday. The S&P 500 has risen 2.6% for December and 8.3% for the quarter. It is also on pace for its best annual performance in six years, up 28.6% for 2019 through Monday’s close. If the benchmark ends the year up 31%, it will score the best year since 1997.

Investors cheered the news this week that China is taking action to stiumulate its economy. The country said it will boost imports by cutting tariffs on over 850 products.

Beijing also said it would study additional cuts in the bank reserve-ratio requirements. The moves come as China and the U.S. agreed on a phase one trade deal and the two sides are working to ink the agreement.

On the data front, Richmond Fed manufacturing surveys were due at 10 a.m. ET.

The U.S. stock market closes at 1 p.m. ET on Tuesday for Christmas Eve and will be closed on Wednesday for Christmas. Thursday and Friday will be regular trading days.

Prices for the 10-Year U.S. Treasury gained, lowering yields to 1.92% from Monday’s 1.93%. Treasury prices and yields move in opposite directions.

Oil prices gained 30 cents to $60.82 U.S. a barrel.

Gold prices hiked $8.60 at $1,489.00 U.S. an ounce.

Stocks Step Down from Records on Christmas Eve