AFTER THE BELL: TSX slips in red as energy, materials sector drop
It was a down day on the TSX as the index’s losing streak stretched to five sessions.
Canada’s stock exchange ended 33 points lower, despite big gains in many of its most actively traded companies.
Eight of the exchange’s 11 major sectors were in the green but were overshadowed by drops in energy and materials.
Also coming into play was cross-border trade uncertainty, with negotiations to remodel NAFTA dragging on.
In the U.S., increases by market movers Nike and Tesla were tempered by America’s ongoing tariff trade war with China, as Trump continues to threaten imposing an additional $267 billion of tariffs on Chinese imports.
This had investors fretting over how these proposed tariffs will weigh on North American companies, as the Dow lost 59 points.
Struggling tech stocks put some weight U.S. markets with Apple shares losing 1.3 percent and Amazon dropping more than half a percent, but the Nasdaq still ended on the plus side, breaking a four-day losing streak by ending the day up 21 points.
Oil initially rose Monday on fears of supply with U.S. sanctions against Iranian crude exports set to take effect in November, but then slipped on concerns over demand with a seasonal slowdown.
Oil slipped 20 cents to $67.55 US a barrel.
The loonie was flat, up 9/100ths of a cent to $.07599 US while gold finished 30 cents lower at $1,195 an ounce.