CLOSING BELL: TSX can’t build off Monday’s momentum
It was a disappointing one on Bay Street as the TSX couldn’t string two positive days in a row together.
Canada’s main stock market closed down 25 points to 15,216 after putting up its biggest one day gain since 2016 yesterday. Industrial and energy stocks led today’s decline
Investors are a little calmer this week as the VIX fell below the 25 point mark today after hitting 50 during last week’s tumultuous trading. The VIX is a measure of the stock market’s current volatility. That, however, could change tomorrow when the U.S. releases consumer price data, which will give investors a better picture of the inflation rate.
Oil was up early before hitting a two-month low today on the back of a report that the world’s supply of crude will be higher than demand later this year. It’s sitting at $59.17 U.S. per barrel, down 12 cents.
Meanwhile gold is up $5.20 to $1331.60 an ounce and the loonie is down a tenth of a per cent to 79.39 cents U.S.