Equities in Canada's largest market edged lower in early trade on Tuesday as falling copper and other commodity prices weighed on mining stocks while shares of banks pushed higher at the tail end of their earnings season.
The S&P/TSX Composite Index fell back 38.29 points to open Tuesday at 15,930.74
The Canadian dollar inched up 0.03 cents to 78.91 cents U.S.
Bank of Montreal on Tuesday reported a decline in quarterly earnings due to higher reinsurance claims following hurricanes that hit parts of the United States and Puerto Rico.
BMO shares dipped 86 cents to $98.73.
Bank of Nova Scotia said on Tuesday that Banco Bilbao Vizcaya Argentaria S.A. (BBVA) has formally accepted its offer to buy the Spanish lender's stake in BBVA Chile for about $2.2 billion.
Scotiabank shares dropped 48 cents to $81.14.
Kinder Morgan Canada said on Monday the start-up of its Trans Mountain pipeline expansion could be delayed past September 2020 if it is unable to get more clarity around permitting and the judicial process by early next year.
Kinder shares fell 26 cents, or 1.5%, to $16.79.
Credit Suisse cut the rating on Lundin Mining to neutral. Lundin shares paled 30 cents, or 4.3%, to $6.76.
RBC raised the rating on First Quantum Minerals to outperform from sector perform. First Quantum shares lost 67 cents, or 4.4%, to $14.57.
BMO resumes coverage on Killam Apartment REIT with an outperform rating. Units of Killam surrendered two cents to $14.05.
BMO raised the rating on Tamarack Valley Energy to outperform from market perform. Tamarack shares edged lower two cents to $2.80.
Eight Capital cut the rating on National Bank of Canada to neutral from buy. National shares dipped 37 cents to $63.27.
On the data beat, Statistics Canada reported that Canada's international merchandise trade deficit with the world totaled $1.5 billion in October, narrowing from a $3.4-billion deficit in September. Exports were up 2.7% while imports decreased 1.6%
The TSX Venture Exchange faded 3.55 points to 783.89
Seven of the 12 TSX subgroups were higher, as information technology sprinted 1%, while consumer staple and discretionary stocks each inched up 0.1%
The five laggards were materials, down 0.8%, gold, surrendering 0.7%, and utilities faded 0.6%.
The NASDAQ composite traded higher on Tuesday as technology stocks rebounded from a selloff that started last week.
The Dow Jones industrials surrendered 9.88 points from Monday's all-time high to 24,280.17,
The S&P 500 added 2.57 points to 2,642.01,
The NASDAQ added 36.25 points to 6,811.61, as shares of Facebook, Amazon, Netflix and Google-parent Alphabet all traded higher.
Tech — the best-performing sector this year — has taken a hit recently, sliding about 4% over the past week.
A decline in Goldman Sachs shares offset gains in McDonald's for the Dow. McDonald's rose 1.5% after analysts at Jefferies upgraded the fast-food giant to buy from hold.
Losses in telecommunications, utilities and financials, meanwhile, washed out a 0.7% gain in the tech sector, pushing the S&P 500 slightly lower.
In corporate news, Snap shares shot 5.4% higher in the premarket after Barclays said the social media could hit a "turning point" in 2018.
AutoZone shares also ticked higher after the company reported better-than-expected quarterly results.
Prices for the benchmark 10-year Treasury note sagged, raising yields to 2.38% from Monday's 2.37%. Treasury prices and yields move in opposite directions.
Oil prices nosed up three cents a barrel to $57.50U.S.
Gold prices backtracked $9.90 to $1,267.80 U.S. an ounce.