Canadian Stocks Show Modest Move To The Downside

(RTTNews) - Canadian stocks moved slightly lower during trading on Tuesday, giving back ground after moving modestly higher over the two previous sessions.

The benchmark S&P/TSX Composite Index climbed off its worst levels of the day but still closed down 38.94 points or 0.2 percent to 20,221.19.

The modest pullback on the day partly reflected ongoing concerns about the outlook for U.S. interest rates ahead of the release of some key economic data in the coming days.

However, most of the major sectors showed only modest moves on the day, as traders seemed reluctant to make more significant bets.

Energy stocks saw notable weakness despite a sharp increase by the price of crude oil, while materials, gold and healthcare stocks moved to the upside.

In Canadian economic news, a report from Statistics Canada said real gross domestic product was nearly unchanged in the fourth quarter following five consecutive quarterly increases.

Statistics Canada said slower inventory accumulations along with declines in business investment in machinery and equipment and housing offset higher household and government spending and improved net trade.