CLOSING BELL: TSX up again as oil rises; Dow breaks losing streak
Markets in both Toronto and New York were up today with oil and technology leading the way.
A couple big movers on the TSX were Magna International, which announced a $200 million deal with Lyft for self-driving cars, and BlackBerry which announced an extension to 2023 for its CEO John Chen. It closed the day 17 points higher at 15,670.
In New York the Dow Jones snapped a three day losing streak. It was up thanks in part to comments from White House trade adviser Peter Navarro that the new tariffs could be put in place without touching off a trade war. It finished at 24,873, up 115 points.
The household debt problem in Canada seems to be improving. New Stats Canada numbers show the debt to income ratio fell 0.1 per cent in the fourth quarter last year to 170.4. That means Canadians owe $1.70 for every dollar of disposable income.
Toys “R” Us has confirmed it’s looking to sell off the Canadian branch of its business while looking to close up shop in the U.S. MGA Entertainment said yesterday it’s put a bid in for the company.
At press time oil is up 25 cents to $61.21, U.S per barrel, gold is down $9.10 to $1316.50 an ounce, and the loonie is down half a cent to 76.61 cents U.S.