TSX Hangs onto Early Gains

Equities in Toronto spent much of the day in plus country, a status which did not change leading up to Monday’s closing bell.

The TSX Composite held onto 54.68 points to adjourn Monday at 19,709.15.

The Canadian dollar eased off 0.02 cents at 72.45 cents U.S.

Real-estate fell the hardest of the sectors which lost ground, and were in the majority. Crombie REIT sagged 32 cents, or 2.4%, to $13.05, while Canadian Apartment REIT dipped $1.04, or 2.3%, to $43.93.

In health-care. Bausch Health Companies dawdled 33 cents, or 3.5%, to $9.07, while Chartwell Retirement Homes gave back five cents to $10.40.

Utilities found the going rough, too, with Northland Power slipping 70 cents, or 3.3%, to $20.87, while Innergex Renewable Energy lost 26 cents, or 2.8%, to $8.94.

Tech stocks tried to make up lost ground, as Dye & Durham raced higher $1.36, or 12.6%, to $12.16, while Docebo hiked $2.26, or 3.6%, to $65.16.

In energy shares, MEG Energy grabbed 69 cents, or 2.6%, to $27.03, while Headwater Exploration took on 14 cents, or 1.9%, to $7.56.

Financials fared positively, as well, with Definity Financial amassing 67 cents, or 1.8%, to $37.64, while Intact Financial moved upward $1.98, or 1%, to $208.25.

ON BAYSTREET

The TSX Venture Exchange nicked up 0.83 points to 511.11.

Eight of the 12 TSX subgroups finished the day down, however, with real-estate off 1.3%, health-care trailing 1.2%, and utilities off 0.6%.

The four gainers were led by information technology, up 0.9%, energy, better 0.7%, and financials, ahead 0.4%.


ON WALLSTREET

The Dow Jones Industrial Average rose on Monday, as traders tried to move past Moody’s Investors Service lowering its U.S. credit rating outlook to negative from stable.

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The 30-stock index regained 54.77 points to 34,337.87.

The S&P 50 index fell 3.69 points to 4,411.55.

The NASDAQ slid 30.36 points to 13,767.74.

Leading the S&P 500 gains were DaVita, Insulet and Henry Schein, each up more than 7%. Shares of Boeing added more than 4% after Emirates announced a $52 billion order for 95 aircraft, giving the Dow a lift.

Moody’s on Friday underscored the U.S.' “very large” fiscal deficits and partisan gridlock in Washington as contributing factors for the cut.

The ratings agency reaffirmed America’s credit rating at AAA, the highest level. This comes three months after Fitch lowered the U.S. long-term foreign currency issuer default rating to AA+ from AAA, also citing expected fiscal deterioration, an increasing debt burden and political standoffs on fiscal and debt issues.

Investors are awaiting the release of fresh U.S. inflation data this week, with the latest reading on the consumer price index slated for release Tuesday.

Prices for the 10-year Treasury inched lower, raising yields to 4.63% from Friday’s 4.62%. Treasury prices and yields move in opposite directions.

Oil prices perked $1.34 to $78.51 U.S. a barrel.

Gold prices brightened $12.60 to $1,950.30.