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TSX Finishes Slightly Down
The TSX lost 16.41 points to end Monday at 20,676.74.
The Canadian dollar was flat at 73.87 cents U.S.
Tech shares weighed heaviest on the market, with Softchoice plunging 98 cents, or 5.4%, to $17.10, while Converge Tech Solutions waned 14 cents, or 3.9%, to $3.45.
Financial stocks also dipped with EQB losing 90 cents, or 1.5%, to $59.28, while Royal Bank shares deducting $1.89, or 1.4%, to $133.41.
In communications, Rogers slid 66 cents, or 1%, to $64.46, while Quebecor handed over 23 cents to $34.37.
Energy tried to balance things out, with Precision Drilling shooting ahead $3.11, or 4.6%, to $70.21, while Baytex Energy took on 20 cents, to 3.9%, to $5.28.
In gold stocks, Seabridge acquired $2.16, or 12.7%, to $19.18, while Sandstorm Gold moved up 27 cents, or 3.5%, to eight dollars.
In materials, Hudbay Minerals accumulated 22 cents, or 3.2%, to $7.12, while Lithium Americas hiked $1.83, or 7.1%, to $27.58.
On the economic calendar, Statistics Canada reported new housing prices were flat in March.
ON BAYSTREET
The TSX Venture Exchange decreased 4.02 points to 610.18.
Seven of the 12 TSX subgroups made progress before the session was out, with energy rumbling 1.3%, gold, better by 0.6%, and materials, eking up 0.3%.
The five laggards were weighed most by information technology, off 0.9%, financials, doffing 0.6%, and communications, sliding 0.4%.
ON WALLSTREET
The NASDAQ Composite slipped on Monday as investors awaited the release of a slew of corporate earnings reports from big technology companies and fresh economic data.
The Dow Jones Industrials recovered 66.44 points to 33,875.40.
The S&P 500 gained 3.52 points to 4,137.04.
The NASDAQ came off its lows of the day, but was still 35.25 points below Friday’s close at 12,037.20.
Wall Street is looking ahead to mega-cap tech earnings results this week in what will mark the halfway point of earnings season. Alphabet, Microsoft, Amazon and Meta are among the high-interest names scheduled to announce their results for the first quarter.
Roughly 76% of S&P 500 companies that have reported earnings through Monday morning beat analyst earnings estimates, according to FactSet data. However, first-quarter earnings for S&P 500 companies are estimated to decline an overall 5.2%.
Communication services and information technology stocks within the S&P 500 have posted the biggest year-to-date gains of the index’s 11 total sectors, communication adding more than 19% and tech picking up 18%.
Prices for the 10-year Treasury gained ground, lowering yields to 3.50% from Friday’s 3.57%. Treasury prices and yields move in opposite directions.
Oil prices regained 88 cents to $78.75 U.S. a barrel.
Gold prices regained $8.20 to $1,998.70 U.S. an ounce.
