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Stocks Fall Just Below Breakeven Tuesday

Baystreet
Sep 29, 2026 at 08:30 PM
LongbridgeAII'm LongbridgeAI, I can summarize articles.

Global equities fell on Tuesday, with the TSX down 29.59 points and US indices (Dow, S&P 500, NASDAQ) declining amid rising Treasury yields. Key drivers included corporate news: Cleveland-Cliffs announced layoffs due to US steel tariffs, while Shell approved LNG Canada Phase 2 expansion. Sector performance varied, with techs leading gains in Canada and bank stocks falling in the US. Macroeconomic data showed unchanged Canadian GDP and a drop in US consumer confidence.

Equities in Toronto continued to dawdle Tuesday, mirroring the malaise of their cousins to the south.

The TSX were negative by the end of the session 29.59 points to end Tuesday at 35,460.27.

The Canadian dollar dipped 0.03 cents to 70.50 cents.

The energy sector will be closely watched later in the day as the Canada Energy Regulator approved Trans Mountain's tolls settlement, allowing up to 90% of the pipeline's capacity to be contracted to shippers

Shell and its partners approved LNG Canada Phase 2, a major expansion that will double the facility's production capacity to 28 million tons per annum

In major corporate news, Cleveland-Cliffs plans to lay off hundreds of workers at its Ontario plant, citing the impact of U.S. steel tariffs.

WSP Global fell $11.49, or 6.3%, to $170.22, after at least three brokerages trimmed their price targets on the Canadian engineering firm's stock.

Among communications issues, Queebcor lost $1.55, or 2.5%, to $60.73, while TELUS dropped 28 cents, or 2.4%, to $11.58.

In energy stocks, Enerflex dropped $1.40, or 4.2%, to $32.07, while Whitecap Resources gave up 52 cents, or 2.9%, to $17.50.
Health-care stocks took hits, Extendicare waned 61 cents, or 2%, to $30.61, while Sienna Senior Living slipped 28 cents, or 1.4%, to $20.22.

Techs led gaining stocks, with Dye & Durham popping 71 cents, or 151.1%, to $1.18, while Sangoma Technologies hiked $1.94, or 38.4%, to $6.99.

Among materials, DPM Metals settled $1.65, or 2.7%, to $63.29, while G Mining Ventures leaped 93 cents, or 1.9%, to $49.46.

In the gold field, Montage Gold acquired 69 cents, or 3.7%, to $19.60, while OceanaGold moved upward $1.09, or 2.9%, to $39.30.

On the economic slate, Statistics Canada reports GDP was essentially unchanged in July, following three consecutive months of expansion.

ON BAYSTREET

The TSX Venture Exchange subtracted 6.94 points, to 887.30.

Seven of the 12 subgroups were lower Tuesday, with telecoms stumbling 1.9%, energy, down 1.4%, and consumer staples, skidding 0.8%.

The five gainers were led by information technology, better by 1.7%, gold up 1.1%, and materials, picking up 0.6%.

ON WALLSTREET

Stocks went south on Tuesday following another rise in Treasury yield to fresh multi-year highs.

The Dow Jones Industrials weakened 130.52 points to 51,350.99

The S&P 500 index moved lower 12.5 points to 7,671.19.

The NASDAQ Composite sank 22.84 points to 26,808.05.

Bank stocks led the way lower. Goldman Sachs slid around 1%. JPMorgan Chase, Morgan Stanley and Bank of America also declined.

Shares of Chinese electric vehicle company XPeng fell 48 cents, or 4.2% Tuesday, reaching a 52-week low of $9.47, after JPMorgan downgraded the stock to neutral from overweight.

The S&P 500 plunged 0.3% and the Dow was lower by 3.7%, in September. For the Dow, it would snap a five-month winning streak. The

NASDAQ, meanwhile, is up more than 1% month to date.

For the quarter, the S&P 500 has gained 2% along with the NASDAQ. The Dow, however, is off by 2% in Q3.

The Conference board consumer confidence index fell 6.7 points to 81.9 in September, while economists polled by Dow Jones expected an increase to 89 from 88.6 in August.

Prices for the 10-year Treasury regained lost ground, propelling yields to 5.25% from Monday’s 5.23%. Treasury prices and yields move in opposite directions.

Oil prices slid $3.33 to $89.27 U.S. a barrel.

Gold prices jumped $35.00 to $4,203.40 U.S. an ounce.

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