CLOSING BELL: Another flat day on Bay Street while Dow makes back some ground
Things were mostly flat on Bay Street for the second day in a row today, and Wall Street made up a little bit of the ground it lost yesterday.
Materials and industrials were up, but that didn’t help get Canada’s main stock market much higher. There was also good news in the manufacturing world, with Stats Canada reporting higher than expected sales in March, which gave the Canadian dollar a shot in the arm. The TSX closed up just 10 points, at 16,108.
In New York the Dow Jones finished the day at 24,768, a gain of 62 points, with the retail and tech sectors leading the charge.
Kinder Morgan shares got a brief boost today on news that the federal government would financially back the Trans Mountain pipeline. Shares were up more than two per cent at one point, but actually ended the day a quarter of a per cent lower.
At press time oil is up 14 cents to $71.45 U.S. per barrel, gold is down 30 cents to $1,290 an ounce, and the loonie is up two-thirds of a cent to 78.14 cents U.S.