Markets

TSX May Start Higher As Gold Shines

An image of a man at his desk working using two monitors
Credit: Shutterstock photo

Canada's benchmark index looked set for a strong open on Thursday, coming back from a two-day Christmas break, with gold prices rising to their highest level in six months.

The rise came as the U.S. dollar faltered, with the ICE dollar index last seen down 0.25 points to 96.76. The metal benefited as a big gains for stocks on Wednesday looked to be a one-day wonder, with futures pointing to a lower opening on most North American markets.

Energy stocks, however, may keep gains in check after a decline in oil prices . Action Economics said in a research note that the drop is "correcting some of yesterday's near 8% surge. The sharp gain, exacerbated by the seasonal thinness of the market, was an invitation to sell amid an ongoing narratives about supply and demand imbalances."

The TSX lost 155 points on Monday in a shortened trading day.

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) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Stocks

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More