Markets

Canada Stocks Close Down 70 Pts. It Might Have Been Worse But For Some Late Buying

Canada's main stock market, the Toronto Stock Exchange, today lost most of Wednesday's gains made on news of a U.S. fiscal deal as investors and traders now prepare for the resulting slowdown in the U.S. economy - which could have a negative knock on impact here as it is Canada's largest trading partner.

The TSX closed down 70 points but recovered from being 100 points lower with about 30 minutes left, which suggests that investors and traders still see value in the market and aren't entirely shrouded in doom and gloom.

Sectors were roughly evenly mixed with Metals & Mining the biggest loser in percentage terms and Healthcare the biggest gainer under the same criteria.

Crude oil futures settled lower Thursday, below US$93 a barrel, as the dollar strengthened in the wake of the Federal Reserve's Open Market Committee's release of its December meeting minutes, MarketWatch reported. February crude oil fell 20 cents to settle at $92.92 a barrel on the New York Mercantile Exchange.

Gold futures finished lower Thursday, pulling back after a two-session climb of 2%, MarketWatch reported. February gold settled at US$1,674.60 an ounce on the Comex division of the New York Mercantile Exchange, down $14.20.

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

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