Stocks in Toronto did not ape their American cousins Monday, and so, remained in their negative state by the close, weighed by losses in real-estate and gold.
The S&P/TSX Composite finished the day down 69.78 points to 20,692.22.
The Canadian dollar faltered 0.14 cents to 77.65 cents U.S.
Real-estate stocks proved the biggest culprit, with Boardwalk REIT sliding $3.19, or 5.7%, to $53.18, while Dream Office REIT swooned $1.47, or 5.7%, to $24.53.
Utilities also were pounded, with ATCO taking it on the chin $1.15, or 2.5%, to $44.62, while Brookfield Infrastructure Partners fell $2.73, or 3.4%, to $77.40.
Gold also had a rough time of it, with Centerra Gold skidding 53 cents, or 4.5%, to $11.36, while Yamana Gold lost 25 cents, or 3.5%, to $6.84.
Tech stocks tried to pick up the slack, with Shopify screaming ahead $24.97, or 4.5%, to $574.50, while Docebo jumped $2.32, or 4.2%, to $57.33.
In the health-care field, Canopy Growth soared 32 cents, or 4.3%, to $7.73, while Tilray advanced 26 cents, or 4.1%, to $6.66.
In consumer discretionary stocks, Canada Goose Holdings raced 84 cents, or 3%, to $28.84, while BRP leaped $1.85, or 1.8%, to $105.92.
On the economic front, Markit Canada’s Manufacturing Purchasing Managers’ Index registered at 56.2 in April, down from March’s survey-record high of 58.9.
The TSX Venture Exchange stumbled 22.75 points, or 2.8%, to 791.68
All but three of the 12 TSX subgroups had lost ground on the session, with real-estate climbing 3.5%, utilities sinking 1.3%, and gold lower 1.2%.
The three gainers were information technology, progressing 1.2%, health-care, haler by 0.9%, and consumer discretionaries, up 0.3%.
U.S. stocks staged a late comeback on Monday, with the S&P 500 and NASDAQ Composite hitting new lows for the year before closing up for the day.
The Dow Jones Industrials recovered from its gully, gathering 84.29 points to 33,061.50.
The S&P 500 regrouped 23.45 points to 4,155.38,
The NASDAQ Composite rebounded with a vengeance, capturing 201.38 points, or 1.6%, to 12,536.02.
The wild trading session came on the heels of a rough April for stocks. The Dow and S&P 500 are coming off their worst month since March 2020, when the pandemic took hold. The NASDAQ had its worst month since 2008.
Tech was a particular weak point in April, but the group led the rebound on Monday. Netflix hiked 4.8% and Facebook-parent Meta Platforms jumped 5.3%. Microsoft and Google-parent Alphabet advanced more than 2% each.
Apple and Amazon closed up less than 1% after spending much of the session in negative territory.
Semiconductors and energy stocks were two areas of strength on Monday. Intel increased 2.2%, and Chevron rose 1.7%, to support the Dow.
Earnings season is now more than halfway finished, but a number of companies are set to post results in the coming week, including a host of consumer-focused restaurant and travel companies.
Expedia, MGM Resorts, Pfizer, Airbnb, Starbucks, Lyft, Marriott, Yum Brands, Uber, eBay and TripAdvisor are just some of the names on deck.
Of the more than 280 S&P 500 companies that have reported earnings so far, 80% have beat earnings estimates with 73% topping revenue expectations
Treasury prices shuttled lower, raising yields to 2.99% from Friday’s 2.92%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.10 to $105.79 U.S. a barrel.
Gold prices got pummeled $49.90 to $1,861.30 U.S. an ounce.