TSX Ends Marginally Down

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(RTTNews) - The Canadian market ended marginally down on Monday, despite recovering from early lows. Consumer discretionary, healthcare, energy and materials shares were the major losers.

The mood was cautious right through the day's session with investors looking ahead to the monetary policy meeting of the Federal Reserve, and a slew of crucial economic data, for direction.

The benchmark S&P/TSX Composite Index ended down 13.18 points or 0.06% at 20,318.36, recovering from a low of 20,209.28.

Healthcare stocks Tilray Inc (TLRY.TO) and Bausch Health Companies (BHC.TO) lost 4.2% and 2.1%, respectively.

Consumer discretionary stock Gildan Activewear (GIL.TO) plunged nearly 11% after the company announced leadership changes. The company announced that Glenn J. Chamandy has left his position as President and Chief Executive Officer and director of the Company. Vince Tyra has been appointed President and CEO effective February 12, 2024.

Aritzia Inc (ATZ.TO) ended 4.4% down, Park Lawn Corp (PLC.TO) drifted down 3.6%, Canadian Tire Corporation (CTC.A.TO) ended 2.7% down, and Brp Inc (DOO.TO) closed lower by about 2.4%.

Energy stocks Crescent Point Energy (CPG.TO), Parex Resources (PXT.TO), Baytex Energy (BTE.TO), Prairiesky Royalty (PSK.TO), Topaz Energy (TPZ.TO), Precision Drilling (PD.TO) and Tourmaline Oil Corp (TOU.TO) ended down 2.5 to 3.1%.

In the materials sector, Novagold Resources (NG.TO) and Lithium Americas Corp (LAC.TO) both lost about 8.9%. First Quantum Minerals (FM.TO), Ivanhoe Mines (IVN.TO), Orla Mining (OLA.TO), Ssr Mining (SSRM.TO), Hudbay Minerals (HBM.TO), MAG Silver Corp (MAG.TO), Capstone Mining Corp (CS.TO), Filo Mining (SIL.TO) and K92 Mining Inc (KNT.TO) ended lower by 3 to 5.3%.

ATS Corporation (ATS.TO), Molson Coors Canada Inc (TPX.B.TO), Waste Connections (WCN.TO), Methanex Corporation (MX.TO), Boyd Group Services (BYD.TO), goeasy (GSY.TO), Fairfax Financial Holdings (FFH.TO) and EQB Inc (EQB.TO) gained 1.3 to 3%.

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

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Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

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U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

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German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

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