Stocks Open Flat Amid Fresh Trump Tariffs

Indices in this country opened subdued on Tuesday, as renewed tariff threats from U.S. President Donald Trump dampened investor sentiment ahead of the Federal Reserve's monetary policy decision meeting.The TSX Composite Index dumped 78.49 points to kick off Tuesday at 24,875.03. The Canadian dollar nicked ahead 0.18 cents at 72.52 cents U.S. The governors of six U.S. states said on Monday they have invited Canadian provincial leaders to discuss the impact of the tariffs while being critical of the measures taken by the U.S. president.Separately, Prime Minister Mark Carney said last week he was expecting "difficult but constructive" talks with Trump on Tuesday.The focus will be on the Fed's two-day meeting, scheduled to start later in the day, with the central bank widely expected to stay put on interest rates. Investors will closely monitor policymakers' comments for any hints of potential monetary policy easing this year.In the economic docket, our merchandise trade, Canada's merchandise exports decreased 0.2% in March, while imports were down 1.5%. As a result, Canada's merchandise trade deficit with the world narrowed from $1.4 billion in February to $506 million in March.Moreover, the IVEY School of Business published its PMI Report Tuesday, which registered at 47.9 in April, down from a 51.3 reading in March, and way off the 63.0 level in April 2024.ON BAYSTREET The TSX Venture Exchange edged up 1.07 points to 657.11.Seven of the 12 subgroups were lower in the first hour Tuesday, with information technology down 1.4%, real-estate lower by 1.1%, and financials off 0.8%.The five gainers were led by gold, brighter 1.4%, materials stronger 1.2%, and health-care improving 0.4%. ON WALLSTREET Stocks slipped Tuesday as investors awaited the Federal Reserve’s policy decision and watched for signs of progress in global trade deals.The Dow Jones Industrials fell 210.62 points to 41,008.21.The much broader index skidded 36.12 points, to 5,614.26.The NASDAQ Composite faded 151.15 points to 17,693.09Tech giants Nvidia and Meta Platforms lost more than 1%. Shares of Tesla shed more than 2% after the company’s new car sales in Britain and Germany fell to their lowest in more than two years in April, even though demand for electric vehicles grew. Goldman Sachs shares also declined to pull the Dow lower.Trump is scheduled for meetings with Prime Minister Mark Carney on Tuesday, marking the start of negotiations between the two leaders since Carney assumed office in March. The meeting comes after Treasury Secretary Scott Bessent said on Monday that “we’re very close to some deals,” echoing comments from Trump on Sunday that agreements could come as early as this week. A Bloomberg report citing people familiar also said that India has proposed zero tariffs on certain goods. Prices for the 10-year Treasury hesitated, raising yields to 4.36% from Monday’s 4.34%. Treasury prices and yields move in opposite directionsOil prices jumped $2.32 to $59.45 U.S. a barrel. Prices for gold skyrocketed $83.60 to $3,405.90 U.S.