Markets

Earlier signs of a possible TSX recovery unfounded, index down 70 Pts

Earlier signs of a possible recovery in the TSX have proven unfounded, with the index down around 70 points at 1.30 pm. The TSX was down around 50 points after about an hour of trading, but had recouped some ground to stand 44 points lower around noon. But lower commodities futures and negative economic sentiment in Canada after the Bank of Canada cut its growth forecasts for this year and next continue to pull stocks lower.

Brent crude, gold, copper and silver futures are all lower as investors buy the U.S. dollar following a surprise interest rate rise in China. To a lesser extent, disappointing U.S. earnings results are weighing on Canadian stocks.

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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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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