Canada’s main stock index opened flat on Wednesday, as subdued prices of most metals weighed on the materials index, while gains in the consumer staples index offset losses.
The TSX Composite started Wednesday with a gain of 58.9 points, to 19,634.49.
The Canadian dollar sank 0.06 cents at 72.56 cents U.S.
On the economic docket, Statistics Canada reports building permits decreased 6.5% in September to $11.2 billion.
ON BAYSTREET
The TSX Venture Exchange lost 2.66 points to 515.49.
Eight of the 12 TSX subgroups were in the green first thing Wednesday, with real-estate scaling higher 1.3%, health-care better by 1.2%, and industrials up 0.8%.
The four laggards were weighed by energy, down 0.7%, while information technology lost 0.4%, and utilities, off 0.3%.
ON WALLSTREET
The S&P 500 rose slightly Wednesday as the benchmark, along with the NASDAQ Composite tried to extend its longest winning streak in about two years.
The Dow Jones Industrials gained 39.17 points to begin Wednesday at 34,191.77.
The much-broader index picked up 1.65 points to 4,378.38.
The NASDAQ faded 15.28 points to 13,624.58.
The S&P 500 clinched its seventh straight positive session Tuesday, while the Nasdaq advanced for an eighth day. Those marked the longest winning streaks for the indexes since November 2021. The Dow also posted a seven-day winning run.
These gains come after about 88% of S&P 500 companies have beaten earnings estimates this season, while slowing demand means that only 62% have also topped revenue expectations.
Shares of Rivian slipped nearly 2% even after posting better-than-expected results and production guidance, while Array Technologies tumbled 21% on weak full-year guidance for earnings and revenue. Robinhood sank nearly 13% after posting significant declines in trading volumes, while Roblox popped 19% on strong results.
Prices for the 10-year Treasury were static, keeping yields at Tuesday’s 4.57%.
Oil prices dipped 89 cents to $76.48 U.S. a barrel.
Gold prices sank $9.10 to $1,964.40.
