Canada’s main stock index moved lower on Tuesday, with gold sector stocks leading the drop. This came despite consumer inflation data from both the US and Canada aligning with expectations, which helped ease investor concerns about inflation driven by tariffs.
Meanwhile, Wall Street markets, including the S&P 500 also edged lower, even though Nvidia (NASDAQ:NVDA) shares rose following new data showing a slight increase in June inflation. Investors were also processing earnings reports from major financial institutions. While Wells Fargo exceeded earnings expectations, its lowered forecast for net interest income caused its stock to fall by over 4 per cent.
| TSX | 27,054.14 | -144.71 |  |
| TSXV | 782.77 | -3.77 | |
| CSE | 126.94 | -1.88 | |
| DJIA | 44,023.29 | -436.36 | |
| NASDAQ | 20,677.80 | +37.47 |  |
| S&P 500 | 6,243.76 | -24.80 | |
The Canadian dollar traded for 72.87 cents US compared to 72.99 cents US on Monday.
US crude futures traded $0.67 lower at US$66.31 a barrel, and the Brent contract lost $0.56 to US$68.65 a barrel.
The price of gold was down US$20.18 to US$3,328.36.
In world markets, the Nikkei was up 218.40 points to ¥39,678.02, the Hang Seng was up 386.80 points to HK$24,590.12, the FTSE was down 59.74 points to ₤8,938.32, and the DAX was down 100.35 points to €24,060.29.
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