Mild gains, Charlie Munger dies

Tuesday began with the Bank of Scotia kicking off earnings season for Canadian banks. BNS‘ quarter disappointed as loan-loss provisions were heavier than expected, and its shares tumbled 4.45%. Financials and staples were the worst performers in Toronto, but gains […]

Cautious sell-off ahead of resumed US-China trade talks

Allan Tong Posted On October 7, 2019

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Cautious sell-off ahead of resumed US-China trade talks

New York indices slipped with ongoing, but measured, worries over the U.S.-China trade negotiations that will resume Thursday in Washington. On Monday, the S&P was -0.45%, the Dow -0.36% and the Nasdaq -0.33%.

The TSX closed slightly stronger at -0.17% at 16,421. One of Monday’s biggest gainers was beleagured SNC-Lavalin, up 3.89% to $17.38. SNC just announced a three-year contract to provide operating and maintenance services to Shell Australia’s upstream facilities.

Conversely, marijuana was the biggest TSX loser on Monday, with Green Organic Dutchman (-7.61%), Hexo (-6.64%) and Aurora (-5.82%) finishing in the bottom three. BMO‘s pessimistic report on the cannabis sector didn’t help these stocks. According to the North American Marijuana Index, the whole sector has plunged nearly 50% since Canada legalized pot on October 17, 2018.