TSX Retreats From Record High

(MENAFN- Baystreet)
Equity markets in this country on Tuesday retreated from the previous session's record high, weighed by technology shares, as investors turned cautious ahead of key economic data that could influence Bank of Canada's interest-rate path later this month.
The TSX Composite Index faltered 164.47 to begin a short week at 28,399.98.
The Canadian dollar sagged 0.25 cents to 72.49 cents U.S.
Markets on both sides of the border were closed Monday for Labour Day.
On the economic front, the S&P Global Canada Manufacturing PMI rose to 48.3 in August 2025 from 46.1 in the previous month, but continued to reflect a contraction in the Canadian private-sector factory activity.
It was the seventh consecutive month of decline in manufacturing, pressured by the series of tariffs slapped by the United States on Canadian goods and domestic retaliatory levies.
ON BAYSTREET
The TSX Venture Exchange hiked 5.38 points to 834.95.
All but two of the 12 TSX subgroups were lower in the first hour, with information technology stuttering 1.3%, while real-estate slid 0.8%, and financials were off 0.7%.
The two gainers were gold, up 0.7%, and energy, inching up 0.3%.
ON WALLSTREET
U.S. stocks were lower Tuesday, with investors weighing the latest developments on the trade front to kick off a seasonally poor month for equities. Rising yields also worried investors.
The Dow Jones Industrials lost 320.69 points to 45,224.19
The broader index lost 62.8 points to 6,397.06
The NASDAQ docked 62.8 points, or 1%, to 21,203
Investors took profits on bull market winners with the unofficial end of the summer season. Nvidia shares were off by nearly 2%. Palantir fell about 1%.
The moves come after a federal appeals court on Friday ruled that most of President Donald Trump's global tariffs are illegal. The U.S. Court of Appeals for the Federal Circuit determined in a 7-4 ruling that only Congress has the authority to apply sweeping levies.
Trump called the decision“Highly Partisan” and has said that he will appeal the ruling to the U.S. Supreme Court.
Prices for 10-year Treasury capsized Tuesday, lifting yields to 4.26% from Friday's 4.23%. Treasury prices and yields move in opposite directions.
Oil prices rumbled higher 99 cents to $65.00 U.S. a barrel.
Gold prices gained $35.10 at $3,551.20 U.S. an ounce.

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