CLOSING BELL: Markets start strong but give up gains throughout day
It was back to business on Bay Street today after a shortened session on Friday.
TSX owner TMX Group says the early market close was caused by a data storage equipment failure, and was not a cyber-attack. Things started off with a bang in Toronto as the TSX touched a six-week high early on the backs of the industrial and financial sectors, but it gave those gains back as the day went on. The TSX closed at 15,607, down 61 points.
Similar story on Wall Street as the ongoing strength of this earnings season and a flurry of deals pushed the markets higher initially. The gains faded down the stretch though and the Dow Jones ended 148 points lower to 24,163.
Investors are looking to see what the Federal Reserve will do when it comes to interest rates, with the central bank set to announce its decision on Wednesday. Apple is set to release quarterly results tomorrow with most analysts expecting the company to confirm that the iPhone X disappointed, and how it plans to address that.
At press time oil is up 29 cents to $68.39 U.S. per barrel, gold is down $6.90 to $1316.50 an ounce, and the loonie is down a hair to 77.91 cents U.S.