September 25, 2021

Equities in Toronto fought their way through the breakeven barrier, with real-estate and gold stocks

The TSX Composite index gained 8.39 points to 20,173.35

The Canadian dollar slumped 0.33 cents to 79.40 cents U.S.

Real-estate had the strongest showing, with Canadian Apartment Properties Real Estate Investment Trust units advancing $1.23, or 2{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $52.71, while Colliers International gained $3.66, or 2.5{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $152.06.

Gold took on some strength, as Barrick Gold jumped 31 cents, or 1.2{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $26.43, while OceanaGold acquired three cents, or 1.3{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $2.30.

In industrials, TFI International roared ahead $9.40, or 7.2{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $140.86, while Transcontinental took on 61 cents, or 2.5{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $94.65.

Health-care issues let the side down, though, with cannabis heavyweight Canopy Growth shedding $1.78, or 7.2{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $22.94, and Tilray faded $1.13, or 6.6{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $16.05.

In energy stocks, Suncor dipped $1.10, or 4.1{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $25.62, while MEG Energy dropped 32 cents, or 3.8{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $8.03.

In consumer discretionary stocks, Canada Goose Holdings fell from the sky $1.01, or 1.9{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $52.71, while Gildan Activewear slid 75 cents, or 1.7{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $42.49.

ON BAYSTREET

The TSX Venture Exchange docked 7.44 points to 898.81.

Seven of the 12 TSX subgroups had turned positive by the closing bell Tuesday, as real-estate surged 1{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, with gold brightening 0.7{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} and industrials 0.6{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} more solid.

The five laggards were weighed most by health-care, turning 3.4{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} lower, energy, 2.6{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} less energetic, and consumer discretionary, down 0.8{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}.

ON WALLSTREET

U.S. stocks fell for the first time in six days on Tuesday ahead of quarterly earnings reports from several megacap technology companies.

The Dow Jones Industrials dropped 85.79 points to 35,058.52.

The S&P 500 deducted 20.84 points to 4,401.46, led to the downside by consumer names, tech and energy.

The NASDAQ plummeted 180.14 points, or 1.2{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to 14,660.58.

The major averages all slipped from their respective records reached in the previous session, breaking their five-day winning streaks.

Shares of UPS tumbled roughly 7{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} as the shipping company’s domestic revenue came up shy of estimates. UPS beat on the top and bottom lines, however, as a surge in e-commerce orders continued.

Tesla erased earlier gains and fell 1.9{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} following a better-than-expected second-quarter earnings report. The electric vehicle maker passed $1 billion in quarterly net income for the first time.

The second-quarter earnings season kicked into high gear this week with Google-parent Alphabet, Microsoft and Apple reporting after the bell Tuesday. The trio of tech heavyweghts declined ahead of their numbers: Alphabet slid nearly 1.6{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, and Apple dropped roughly 1.5{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}. Microsoft was down nearly 0.9{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}.

So far, 88{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} of S&P 500 companies have reported a positive EPS surprise, according to FactSet. If 88{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} is the final percentage, it will mark the highest percentage since FactSet began tracking this metric in 2008.

Investors are awaiting the Federal Reserve’s update on its monetary policy as the central bank’s two-day meeting began. The Federal Open Market Committee will release a statement when the meeting concludes Wednesday, followed by Chairman Jerome Powell’s news conference.

The International Monetary Fund warned Tuesday that there’s a risk inflation will prove to be more than just transitory, pushing central banks to take pre-emptive action.

Prices for 10-Year Treasurys gained ground, lowering yields to 1.24{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} from Monday’s 1.30{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}. Treasury prices and yields move in opposite directions.

Oil prices fell 14 cents to $71.77 U.S. a barrel.

Gold prices eked up 70 cents to $1,799.90 U.S. an ounce.

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