TSX Closes Down 30 Pts, About Half Way Between Day Highs and Lows; Fed Dictates Biggest Session Moves

By Midnight Trader,  June 20, 2012, 04:04:37 PM EDT

Canada's main stocks market had a particularly eventful second half to the day -falling to session lows early afternoon on worries that the U.S. Fed wouldn't at least extend monetary stimulus, but then quickly regaining all those losses to turn positive and hit session highs shortly after 1pm ET on relief that the Fed did act as expected.

From there, the market then lost half its earlier strong gains as Fed officials cut their estimates for 2012 growth in the U.S., only for the market to recover some ground again before the close on bargain hunting.

Gold for August delivery on the COMEX settled down US$7.40 at $1,615.80 an ounce as traders were largely not surprised by today's Fed decision to extend its Operation Twist program. Crude oil for July delivery on the New York Mercantile Exchange settled down US$2.23 at $81.80, the lowest close since early October. Again, traders didn't find much encouragement from the Fed.




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


This article appears in: Investing, Commodities

Referenced Stocks:



Latest News Video

Sexual Assault Scandals Rock Military as House Panel Acts
Sexual Assault Scandals Rock Milita...
Shock Over London Killing
Shock Over London Killing           


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.31 0.13  0.97%
PFE $ 29.30 0.52  1.81%
GE $ 23.86 0.20  0.85%
F $ 14.97 0.02  0.13%
MSFT $ 34.61 0.24  0.69%
QQQ $ 73.65 0.62  0.83%
MU $ 10.92 0.31  2.76%
INTC $ 24.07 0.08  0.33%