Losses Minimized On TSX

(MENAFN- Baystreet)
Investors staged a valiant effort Tuesday to bring equities back to at least the breakeven point, while they awaited interest rate decisions from the U.S. Federal Reserve and the Bank of Canada later this week.
The TSX index came off its lows of the morning, but still trailed Monday's close by 18.14 points to adjourn Tuesday at 33,075.18.
The Canadian dollar surged 0.73 cents at 73.66 cents U.S.
In corporate news, investment fund La Caisse after the market closed on Monday said it will sell a part of its stake in telecom firm Cogeco Communications, whose shares dawdled $4.26, or 5.9%, to $67.50.
The information technology sector gained with electronics manufacturing services company Celestica rising $29.80, or 7.1%, to $452.26.
Consumer staples took the body blows Tuesday, primarily Metro, giving up $5.39, or 5.5%, to $92.93, while Alimentation Couche-Tard dipped
$1.39, or 2.4%, to $73.68.
In the health-care field, Curaleaf doffed 17 cents, 4.8%., to $7.34, while Bausch Health Companies let go of17 cents, or 2.1%, to $7.79.
In real-estate, FirstService shuttled lower $6.89, or 3.1%, to $214.04, while Altus Group surrendered $1.34, or 2.7%, to $48.33.
Energy proved to be one of the two subgroups that actually pointed upward, as Parex Resources grabbed $1.01, or 5.1%, to $20.71, while Tamarack Valley Energy gained 46 cents, or 5.2%, to $9.30.
In utilities, Transalta picked up $1.12, or 6.4%, to $18.74, while Capital Power jumped $1.88, or 3.1%, to $61.73.
ON BAYSTREET
The TSX Venture Exchange inched into positive country 1.8 points to 1,142.12.
All but two of the 12 TSX subgroups were lower on the day, weighed most heavily by consumer staples, diving 2.5%, while health-care sank 1.5%, and real-estate lost 1.9%.
The lone two gainers proved to be energy, up 1.1%. while utilities gathered 0.7%.
ON WALLSTREET
The S&P 500 rose to a fresh all-time intraday high on Tuesday, aided by gains in Big Tech, as traders awaited earnings from companies in the sector. Traders also looked ahead to the Federal Reserve's first policy decision of the year, due Wednesday.
The Dow Jones Industrials withered 409.11 points to close at 49,003.29
The much-broader index picked up 28.36 points to 6,978.59.
The NASDAQ hiked 215.74 points to 23,817.10, due largely to an 18% drop in UnitedHealth.
Apple advanced more than 1%, while Microsoft rose more than 2%. More than 90 S&P 500 will have reported earnings by the end of the week. Meta Platforms and Microsoft, as well as fellow“Magnificent Seven” giant Tesla, are all due Wednesday. Apple will share its results on Thursday.
Shares of several big-name health insurers were among the laggards Tuesday, plunging after the Centers for Medicare & Medicaid Services proposed raising payments to Medicare Advantage insurers by a net average of just 0.09% in 2027. Shares of Humana slid 19%, while CVS Health lost 13%.
Prices for the 10-year Treasury slid a bit, raising yields to 4.23% from Monday's 4.22%. Treasury prices and yields move in opposite directions.
Oil prices vaulted $1.83 to $62.46. U.S. a barrel.
Gold prices hiked $90.30 to $5,172.80.

MENAFN27012026000212011056ID1110659294