North American stocks ended mixed on Tuesday, with retail stocks and gold producers moving higher but financials taking a step back after Monday's Basel-inspired rally.
The Dow Jones industrial average closed at 10,526.49, down 17.64 points or 0.2 per cent. The broader S&P 500 closed at 1121.10, down 0.8 point or less than 0.1 per cent. In Canada, the S&P/TSX composite index closed at 12,192.98, up 43.12 points or 0.4 per cent.
U.S. retailers were generally strong after a better-than-expected reading on retail sales in August and a jump in quarterly earnings from Best Buy Co. Inc. Best Buy rose 6 per cent, J.C. Penney Co. Inc. rose 7.4 per cent and Gap Inc. rose 3.9 per cent.
Large-capitalization technology stocks also moved higher. Cisco Systems Inc., which announced it would begin to pay a quarterly dividend by the end of its fiscal year, rose 0.9 per cent, while Intel Corp. rose 1 per cent and Hewlett-Packard Co. rose 2.6 per cent.
However, financials backtracked a day after investors drove shares higher in a relief rally related to new international rules, called Basel III. Citigroup Inc. fell 1.3 per cent and Bank of America Corp. fell 1.9 per cent.
In Canada, the TSX has been driven higher by surging gold producers, which reacted to a rise in the price of gold. Gold hit $1271.70 (U.S.) an ounce, up $24.60 to a new record high. Barrick Gold Corp. rose 2.2 per cent and Goldcorp Inc. rose 3.6 per cent.