CLOSING BELL: TSX falls on resource stock decline
Canada’s main stock market slipped today, while the Dow Jones got a lift.
On Bay Street, resource stocks fell dragging the TSX down with them. The heavyweight energy sector was down as was materials. On top of that analysts say the worries over the growing trade dispute between the United States and its biggest trade partners are still weighing on investors’ minds. The TSX closed at 16,179, a loss of 51 points.
On Wall Street, tech stocks rebounded as did financial shares. Financials were on a 13-day skid. Losses by drug distributors kept the gains in check though, as the sector took a beating after Amazon announced it was getting into the trade. The Dow Jones ended the day 98 points higher at 24,216.
At press time oil is up 55 cents to $73.31 U.S. per barrel, gold is down $6.50 to $1,249.60 an ounce, and the loonie is up more than half a cent to 75.37 cents U.S.