TSX Retreats After Hitting Fresh Record High; Materials Stocks Among Major Losers

(RTTNews) - The Canadian market is down in negative territory on Tuesday, weighed down by concerns about tariffs, and uncertainty about any monetary easing by the Bank of Canada following sticky inflation data.

Consumer staples, materials and energy stocks are among the notable losers.

The benchmark S&P/TSX Composite Index, which climbed to a new record high of 27,239.48 earlier in the session, was down 159.07 points or 0.59% at 27,039.78 a little while ago.

Canopy Growth Corp is down 5.6% and Tilray is declining 4.4%. Teck Resources, First Majestic Silver Corp, Richelieu Hardware, Kinross Gold, Endeavour Mining, Franco-Nevada, Aurora Cannabis and Wheaton Precious Metals are down 2 to 3%.

Ero Copper, Barrick Gold, Pan American Silver, Lundin Gold, Nutrien, Agnico Eagle Mines, Celestica, George Weston, Loblaw Companies, Canadian Natural Resources and ARC Resources are among the other major losers.

Corus Entertainment is soaring more than 11%. Brookfield Renewable is gaining 5.8%. PrairieSky Royalty, Ballard Power Systems, Badger Infrastructure Solutions, Wesdome Gold Mines, Bausch Health Companies, Canada Goose Holdings, Ivanhoe Mines, Enghouse Systems and Methanex are up 1 to 3%.

Data from Statistic Canada showed Canadian inflation rate increased to 1.9% annually in June, from 1.7% a month earlier. Core consumer prices in Canada increased 2.7% in June over the same month in the previous year.

The Consumer Price Index increased 0.1% in June over the previous month. MoM, core inflation rate decreased to 0.1% in June from 0.6% in May of 2025.

A separate data from Statistics Canada showed manufacturing sales in Canada decreased by 0.% in May from -2.8% in April.

Another data from Statistics Canada said car registrations in Canada increased to 194,524 units in May 2025, up 5.0% from May 2024.