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TSX ends down 0.1% at 33,776.50

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Financial stocks fall 1.4% ahead of bank earnings

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Shopify ( SHOP ) shares lose 7.1%

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Materials group gains 3.4% as gold prices climb

(Updates at market close)

By Utkarsh Hathi and Fergal Smith

Feb 23 (Reuters) - ​Canada's main stock index pulled back

on Monday from ‌an earlier record high as investors weighed an

uncertain outlook for U.S. trade policy and turned ⁠attention to

the start of bank earnings season.

The S&P/TSX Composite Index ended ⁠down 41.01

points, or 0.1%, at 33,776.50, after touching ‌a record intraday

high of ‌33,998.51. On Friday, the index posted a record closing

high.

Wall Street stocks tumbled, led by ​losses in software and

financial shares, as risk ‌appetite was dampened by U.S.

President Donald Trump's erratic statements on trade policy

after the U.S. Supreme Court struck down his ​emergency tariffs

on Friday.

Canada's largest banks ​are expected ‌to report another

quarter of strong earnings, supported by strength in their

capital markets and wealth management businesses, but slow loan

growth and consumer ⁠weakness could put pressure on the lenders'

profits.

Bank of Nova Scotia ( BNS ) will ⁠kick off the first-quarter

earnings on Tuesday.

"Bank stocks are near all-time highs and susceptible to a

pullback," said Allan Small, senior investment advisor at Allan

Small Financial Group with iA Private Wealth. "If earnings are

good but not great, ⁠you could ‌see a selloff."

Financials, the most heavily weighted sector ‌on

the TSX by far, lost 1.4%. Shares of consumer finance company

goeasy Ltd ⁠ended 7.8% lower.

Technology was down 3.2%, with shares of e-commerce

company Shopify Inc ( SHOP ) falling 7.1%, while industrials

declined 1.7%.

Four of the 10 major sectors ended higher.

The materials group, which includes metal mining shares,

added 3.4% as a fresh wave of safe-haven demand bolstered gold

prices.

Loblaw ( LBLCF ) said it will invest C$2.4 billion ($1.75

billion) this year to boost ​its store network and supply chain,

and help create about 9,700 jobs related to retail and

construction.

Shares of the retailer gained 3%, boosting the consumer

staples sector ​which ended 2.4% higher.