TSX Slides as Sentiment Remains Uncertain Ahead of Key US Inflation Data
Investing.com | Author Ketki Saxena
Published Jan 09, 2024 13:16
By Ketki Saxena
Investing.com -- Canada’s main stock index, the S&P/TSX Composite, tracked the S&P 500 and Dow lower as rising US Treasury yields and hawkish Fed speak weighed on sentiment ahead of key inflation data due later this week.
Investing Pro Subscribers are the first to receive breaking news, analyst upgrades, and best buy ProPick recommendations. For an extra 10% discount , use Coupon: Canada2024.
Don’t miss the New Year’s sale, for up to 60% off.
Toronto Stock Market News/h2
K92 Mining (TSX:KNT) shares rose to the top of the TSX after reporting a record quarterly gold output. Record quarterly ore processed came in 151,908 metric tons or 1,651 tons/day, up 25% year over year. K92 also announced the appointment of a new chief operating officer.
Tilray (TSX:TLRY) reported revenue up 34% year over year, totalling US$193.8 million, up from US$144.1 million a year ago. The cannabis company posted a net loss for the quarter, reporting a net loss of US$46.2 million compared to a loss of US$61.6 million a year earlier.
Canopy Growth (TSX:WEED) meanwhile is under pressure after the company announced a US$30 million private placement earlier today, and was forced to sell shares at a 17% discount to yesterday’s closing price for much needed liquidity.
At the Canadian bank CEO conference, the top executives of Canada’s biggest banks expect to put more money aside for credit loss provisions in 2024, but remain divided on whether the worst is yet to come. RBC (TSX:RY) chief executive Dave McKay expects 2024 to be slightly worse, particularly in US commercial real estate. Scotiabank (TSX:BNS) chief executive Scott Thomson meanwhile sounded a more optimistic note, stating that lower rates on the horizon help provide a tailwind.
For upcoming earnings, view our
Toronto Stocks Moving Markets Today/h2
Top Gainers on the TSX Today:/h3
- K92 Mining Inc (TSX:KNT)
- NexGen Energy (TSX:NXE)
- Denison Mines (NYSE:DNN)
Top Losers on the TSX Today:/h3
- Tilray Inc (TSX:TLRY)
- Nutrien (TSX:NTR)
- Toronto Dominion Bank (TSX:TD)
- K92 Mining Inc (TSX:KNT)
- NexGen Energy (TSX:NXE)
- Denison Mines (NYSE:DNN)
Top Losers on the TSX Today:/h3
- Tilray Inc (TSX:TLRY)
- Nutrien (TSX:NTR)
- Toronto Dominion Bank (TSX:TD)
For all Canadian Stocks Moving Markets today, view our Canada Markets Page.
In Canadian Economics/h2
Canada Trade Balance for November fell from $3.2 billion in October to $1.57 billion in November, coming in below expectations.
Canadian Building Permits also fell more than expected in November, posting a decline of 3.9% compared to forecasts for a 1.7% decline.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.
Get The App
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.