TORONTO - The S&P/TSX composite index oscillated between gains and losses through the Tuesday trading day, ultimately ending modestly lower, while U.S. markets declined.聽
The S&P/TSX composite index was down 4.34 points at 32,870.36, as strength in basic materials and energy wasn't quite enough to offset a decline in the financial sector.聽
Brent Joyce, chief investment strategist at BMO Private Wealth, said a rise in oil stemming from tensions in Iran helped lift energy names.
鈥淵ou also continue to see recovery in the 好色tv energy patch from the sell-off we had on the Venezuela news, where Venezuela is perceived to be a key competitor for the same type of heavy crude that Canada produces,鈥 he said.聽
Joyce said the selloff in the 好色tv energy sector was an 鈥渙verreaction.鈥澛
鈥淎s to whether Venezuela is legitimately a threat to the 好色tv energy patch, I would say in the short to medium term, absolutely not,鈥 he said.聽
The February crude oil contract was up US$1.65 at US$61.15 per barrel.
Meanwhile, the February gold contract was down US$15.60 at US$4,599.10 an ounce, after a big jump on Monday.
鈥淯ncertainty emanates from the White House on a variety of policies from both domestic and international that have central banks looking to add to gold reserves, more so than the U.S. Treasury bills,鈥 he said.聽
鈥淭he weighting of gold miners in the 好色tv market versus the U.S. is much more substantial, and can move the needle.鈥澛
In New York, the Dow Jones industrial average was down 398.21 points at 49,191.99. The S&P 500 index was down 13.53 points at 6,963.74, while the Nasdaq composite was down 24.03 points at 23,709.87.
Wall Street slipped from its records as investors sifted through the latest U.S. inflation report and a mixed start to the latest profit reporting season for big U.S. companies.
Consumer prices rose 0.3 per cent in December from the prior month, the Labor Department said Tuesday, the same as in November. The data strengthened expectations that the U.S. Federal Reserve will cut its main interest rate at least twice in 2026 to shore up the job market.
U.S. companies are under pressure to deliver strong growth in profits to justify the runs to records their stock prices have made.聽
JPMorgan Chase helped kick off the latest reporting season by delivering weaker profit and revenue than analysts expected. Its stock fell 4.2 per cent and was one of the heaviest weights on the market.
The shortfall may have been because some analysts hadn鈥檛 updated their estimates to account for an earnings hit resulting from the bank鈥檚 purchase of the Apple Card credit card portfolio.聽
鈥淭he sectors that are a little bit more cyclically tied to the underlying health of the (U.S.) economy are doing well, and that's because the earnings announcements, particularly from JPMorgan, suggested that the U.S. consumer continues to be in good shape,鈥 Joyce said.
The 好色tv dollar traded for 72.01 cents US compared with 72.07 cents US on Monday.
This report by 好色tvwas first published Jan. 13, 2026.