CLOSING BELL: Oil prices power TSX to record high
It was a record day on Bay Street.
Higher oil prices helped pump up the heavyweight energy sector which in turn pumped up Canada’s main stock market. The TSX closed the day at 16,548, up 96 points. Although that beat the previous record, which was only set yesterday, the TSX is up just 1.4 per cent on the year.
On Wall Street, things were up today as well as energy shares and PepsiCo did well. Analysts are saying investors are also expecting positive earnings reports from the U.S.’s big banks later this week. The Dow Jones closed at 24,919, up 143 points.
At press time oil is up 20 cents to $74.05 U.S. per barrel, gold is down $3.30 to $1,256.30 an ounce, and the loonie is down a shade to 76.23 cents U.S.