US benchmarks mixed
Nasdaq up 41 pts
TSX loses ground
Heading into the close, the Dow Jones is down around 19 points at 24,855.
The S&P 500 is up around four points at 2,725.
The Nasdaq is up over 41 points at 7,372.
In Toronto, the TSX is up over four points at 15,545.
US crude - West Texas Intermediate - is down 0.19% to US$62.45 a barrel.
MID-SESSION
After a positive start, US shares lost momentum by mid-session and the Dow Jones is down around 53 points at 24,820.
But the broader based S&P 500 is up around three points at 2,724.
The tech heavy Nasdaq is up 35 at 7,365.
In Toronto, the TSX is up nearly 17 points at 15,558.
In Canada, big gold miners were heading north, helping to support the larger materials sector as gold prices firmed on the potential progress with North Korea.
The titan Goldcorp (CSE:G) rose 2.6% to C$16.99, while Teck Resources (CSE:B) advanced 1.3% to C$36.75 as gold futures rose.
On Wall Street, Target Corp (NYSE:TGT) was a notable laggard, with shares down 6.19% to US$70.49.
Elsewhere, Aemetis Inc (NASDAQ:AMTX) shares surged over 74% to US$1.13 after news that the firm had completed the operation of cellulosic ethanol integrated demonstration unit.
On the losing side, Marinus Pharmaceuticals Inc (NASDAQ:MRNS) plunged over 14% to US$4.48 as it reported a full year 2017 loss of US$0.80 per share, which was larger than analysts had expected.
The biotech company, which is developing therapeutics to treat epilepsy and neuropsychiatric disorders, posted a loss for 2017 of US$18.9mln, or 80 US cents a share.
Though the loss was smaller than the loss of US$28.6mln, or US$1.47 a share, that Marinus reported in all of 2016, it was greater than the loss of 71 US cents a share that was the average of estimates by two analysts who follow Marinus, according to Yahoo Finance.
OPEN
US benchmarks started Tuesday on the front foot, with the Dow Jones up over ten points at 24,885.
The Nasdaq added oer 99 points at 7,357, while the S&P 500 gained 3.98 at 2,724.
In Toronto, the TSX added over five points to stand at 15,546.
In London, FTSE 100 is up over 58 points at 7,174.
In stocks, Target Corp (NYSE:TGT) saw shares sink 3.67% as it missed profit estimates for the key holiday quarter.
PREVIEW
US stock futures pointed to a continuation of Monday’s strong gains on Wall Street, with the Dow Jones leaping over 336 points higher on Monday to close at 24,874 boosted by a push back against President Trump’s tariff plan from key Republicans such as House Speaker Paul Ryan.
Craig Erlam, senior market analyst at Oanda commented: “Investors may have been rattled by the prospect of a trade war after Donald Trump’s recent tariffs announcement, but equity markets are once again recovering as it becomes clear that the US President does not have the full backing of his party of this one.”
He added: “Some Republicans, including House Speaker Paul Ryan, have warned against starting a trade war that could damage the economy and undo the benefits of the recently passed tax reforms, highlighting that Trump is lacking the full support of his party on this particular issue.
“Trump’s comments linking the tariffs to NAFTA negotiations also suggested that they could be dropped if a new agreement is signed, suggesting he may simply be using the threat of tariffs to put pressure on others to deliver what he considers to be fair and reciprocal trade.”