TSX falls as Shopify drags tech sector; investors await US midterms
SHOP•Canada’s S&P/TSX Composite fell 0.3% to 35,669.85 points as Shopify dropped 7.8% after third-quarter revenue slightly missed estimates, weighing on the technology sector.
1. Shopify weighs on TSX
Canada’s main stock index fell on Tuesday, with Shopify down 7.8% after its third-quarter revenue slightly missed estimates. Shopify was the benchmark’s biggest drag, and the technology sector fell 1.9%.
2. Other market moves
Thomson Reuters fell 6.6% as some investors raised concerns that higher AI spending could weigh on profit. Healthcare shares rose 1.9% and utilities gained 0.4%.
3. Investors watch US vote
Investors were watching the US midterm elections and were also due to hear from Bank of Canada Governor Tiff Macklem before a House of Commons finance committee. Brent crude fell nearly 1% after President Donald Trump said the United States would end billions of dollars of annual military support to Israel after the end of the year.
