Negative Start to Short Week for TSX

The TSX barreled ahead 252.74 points, or 1.3%, to close Friday at 20,545.36. The gain on the week was 709 points, or 3.58%.

September futures dipped 0.2% Tuesday.

The Canadian dollar tumbled 0.24 cents to 73.29 cents U.S.

Markets throughout North America were shuttered Monday for Labour Day

ON BAYSTREET

The TSX Venture Exchange gained 4.92 points Friday to 591.52, for a gain on the week of 10.3 points, or 1.8%.

ON WALLSTREET

Stock futures slipped Tuesday to start a holiday-shortened week.

Futures for the Dow Jones Industrials doffed two points to 34,879.

Futures for the S&P 500 fell 5.75 points, or 0.1%, to 4,515.75.

Futures for the NASDAQ dumped 46.25 points, or 0.3%, to 15,470.

The moves follow an upbeat week for Wall Street, with the Dow and the NASDAQ notching their best performances since July. The 30-stock Dow added 1.4%, and the NASDAQ added about 3.3% for the week. The S&P 500 gained 2.5% to register its best week since June.

Goldman Sachs encourages investors to buy shares of potato products maker Lamb Weston, anticipating a comeback for the stock after a difficult few months.

Chip designer Arm filed an updated regulatory filing for a U.S. initial public offering, setting a range between $47 per share and $51 per share.
SoftBank, which owns Arm, plans to sell 95.5 million shares. This all implies a valuation of up to $54.5 billion.

Investors could also be looking at a challenging month ahead for stocks. September is historically the weakest month for equities, and investors will be sifting through economic reports—including fresh inflation data—ahead of the Fed’s September policy meeting. Central bank policymakers will have a two-day meeting starting Sept. 19 and announce their interest rate decision Sept. 20.

In Japan, the Nikkei 225 index gained 0.3% Tuesday, while in Hong Kong, the Hang Seng dropped 2.1%.

Oil prices fell 28 cents to $85.27 U.S. a barrel.

Gold prices handed back $10.00 to $1,957.10 U.S. an ounce.