Canada Stocks Close Higher; Tests All-time Highs; Healthcare Drives Gains


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Canada stocks closed higher on Tuesday, notching up its 4th consecutive gain. Sectors were mixed, with Health Care and Utilities driving upward momentum but Energy bucked the trend.

For the second consecutive session, the benchmark index passed its record closing high of 15,073.13 before falling back below its June 18, 2008 record. Support on the TSX is seen near the 10-day moving average at 14,911.

Of commodities, crude oil prices moved lower for the 2nd consecutive trading session, closing at $106.17 per barrel. Prices were on the defensive following news that President Barack Obama is set to discuss Iraq with congressional leaders on Wednesday amid mounting concerns over the U.S. response to rising violence in the country.

Canadian government bond yields closed below session highs following an early jump higher alongside Treasuries that was triggered by hotter than expected U.S. CPI.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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