Stocks Give Back Gains at Open

Equities in Canada’s main index gave way on Monday, dragged down by weakness in energy stocks, while rising tensions between the United States and China sapped appetite for risky assets. The TSX slid 36.89 points to Monday and the week at 17,484.08. The Canadian dollar shaved off 0.13 cents to […]

Equities in Canada’s main index gave way on Monday, dragged down by weakness in energy stocks, while rising tensions between the United States and China sapped appetite for risky assets.

The TSX slid 36.89 points to Monday and the week at 17,484.08.

The Canadian dollar shaved off 0.13 cents to 78.11 cents U.S.

Pot producer Aurora Cannabis fell 88 cents, or 6.3%, the most on the TSX, to $13.01. The second biggest decliner was oil producer Gibson Energy, down 69 cents, or 3.1%, to $21.76.

The largest percentage gainers on the TSX were OceanaGold, which jumped 60 cents, or 33%, to $2.42, and uranium producer Cameco Corp., which rose 66 cents, or 4.7%, to $14.78.

On the economic slate, Western University’s IVEY School of Business came out with its Purchasing Managers’ Index for November. The index moved lower to 52.7, from October’s 54.5, and way down from the 60 figure in November 2019.

ON BAYSTREET

The TSX Venture Exchange ballooned 8.69 points, or 1.1%, to 777.80.

Eight of the 12 TSX subgroups were negative in the first hour, with energy fading 2%, health-care sicker by 1.5%, and consumer discretionary, off 0.7%.

The four gainers were led by gold, forging 3.7%, materials, up 2.2%, and information technology, inching up 0.2%.

ON WALLSTREET

The Dow Jones Industrial Average and S&P 500 fell on Monday following a record-setting session as traders worried about rising coronavirus cases and searched for clues on additional fiscal aid.

The 30-stock index tumbled 153.34 points to 30,064.92. Chevron dumped 2%, while Intel lost 1.7%, the worst-performing Dow stocks.

The S&P 500 removed 3.28 points to 3,695.84. The energy sector led the S&P 500 lower, sliding more than 2%.

The NASDAQ moved higher, though, 54.97 points to 12,519.20, and hit a fresh record high. Facebook, Apple and Netflix all rose more than 1% to lead the Nasdaq higher. Tesla also contributed to the NASDAQ’s gains, advancing 2.9%.

Prices for the 10-Year Treasury revived, lowering yields to 0.93% from Friday’s 0.97%. Treasury prices and yields move in opposite directions.

Oil prices sank 59 cents to $45.67 U.S. a barrel.

Gold prices hiked $24.80 to $1,864.80.

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