(RTTNews) - The Canadian market climbed to a new high after a slightly weak start Monday morning, but retreated swiftly and spent the rest of the session in negative territory as investors turned cautious, looking ahead to a slew of crucial U.S. economic data.
The benchmark S&P/TSX Composite Index, which advanced to 21,449.92 in early trades, ended down by 88.84 points or 0.41% at 21,324.31.
Utilities, real estate, materials and communications shares were among the prominent losers. Consumer discretionary and financials shares also were mostly subdued. Technology and energy stocks found some support.
Newmont Corporation (NGT.TO), Brookfield Infrastructure Corporation (BIPC.TO), Onex Corporation (ONEX.TO), Bombardier Inc (BBD.B.TO) and Cogeco Communications (CCA.TO) lost 2.3 to 4%.
Cargojet (CJT.TO) ended down 3%. The company reported fourth-quarter loss of C$34.9 million or C$2.04 per share compared with earnings of C$2.6 million or C$0.15 per share in the last year.
Emera Incorporated (EMA.TO) shores dropped 3.4%. The company reported 2023 fourth-quarter net income of $175 million, or $0.63 per common share, compared with $249 million, or $0.93 per common share, in the fourth quarter of the previous year.
Magna International (MG.TO), West Fraser Timber (WFG.TO) and Bank of Montreal (BMO.TO) ended down 1 to 2%.
Hut 8 Corp (HUT.TO) zoomed nearly 18%. Celestica Inc (CLS.TO) gained 3.35 percet, and GFL Environmental (GII.TO) ended higher by 3.2%.
TFI International (TFII.TO), Toromont Industries (TIH.TO), goeasy (GSY.TO) and Fairfax Financial Holdings (FFH.TO) climbed 1 to 3.5%.
On the economic front, Canada\'s manufacturing sales likely rose 0.4% in January, rebounding from a 0.7% fall in the previous month, according to preliminary estimats. Meanwhile, wholesale sales likely shrank by 0.6% month-over-month in January, after a 0.3% increase in the previous month, preliminary estimates showed.