Geopolitics, earnings factor in
The S&P/TSX composite index moved lower 27.55 points, to close at 15,187.71.
The Canadian dollar toppled
The Chinese survey indicated that growth in the services sector slowed sharply in July to near a nine-year low.
The continuing crises in the
Financials, the index's most heavily weighted sector, gave
back ground, Bank of Nova Scotia lost 0.2% to
Shares of energy producers followed oil prices lower, with Suncor Energy slipping 0.6% to
The gold-mining sector was pulled lower by weakness in the bullion price. Barrick Gold was down 0.6% at
Recent acquisitions helped Saputo post a higher quarterly profit on Tuesday. Shares of the dairy producer climbed 2% to
Eight of the 14 Toronto subgroups were higher, with consumer staples up 0.9%, industrials, ahead 0.7% and utilities, gaining 0.6%.
The half-dozen laggards were weighed mostly by health-care, down 2.9%, metals and mining stocks, off 0.9%, and energy, slipping 0.7%.
Geopolitical risk reared its ugly head once again, sending stocks down, down, down Tuesday. The Dow and S&P 500 are back at the levels they last saw in May.
The Dow Jones Industrials tumbled 139.81 points to 16,429.47
The S&P 500 lost 18.78 points to 1,920.21. The NASDAQ composite docked 31.05 points to 4,352.84.
The Dow is back in negative territory for the year, giving back all the gains it got from last week's good jobs numbers.
Energy stocks were getting especially hammered -- down more than twice the rate of the S&P 500 -- an indication of the role
Target reported that its holiday-season credit card breach cost
Dollar General, up 3.5% is weighing a bid for Family Dollar, which is trading 2% higher,
The dollar store industry is under a lot of pressure as working class families continue to struggle during the recovery. Whichever company fails to acquire Family Dollar will get stuck in a distant, dangerous second place.
Purse and accessory maker Coach impressed investors with a better-than-expected quarter, but
North American sales dropped 16% in that time, though increasing international sales softened the blow. The stock is up 4% and leading the S&P 500.
Nor were a couple of conflicting economic reports helping cheer investors up.
Prices for 10-year U.S. Treasuries were lower, raising yields to 2.48% from Monday's 2.50%. Treasury prices and yields move in opposite directions.
Oil prices sank
Gold prices recovered
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