Tenuous calm settles in on TSX after week of jitters

TORONTO -- North American investors were experiencing a calmer day Friday after days of upheaval in China where trading was pre-emptively halted twice this week amid heavy market losses.

See Full Article

Canada's main stock market index, the S&P/TSX Composite, was up 26.29 points at 12,474.50 at noon Friday after briefly falling into the red. The index is still about 20 per cent below an all-time high set in September 2014.

In New York, the Dow Jones average of 30 stocks was up 7.16 points at 16,521.26, after falling nearly 400 points on Thursday. That benchmark had been as low as 16,434.25 earlier Friday, about 80 points below its Thursday close.

The broader S&P 500 index was up a paper-thin 0.74 point at 1,942.35, while the Nasdaq was up 13.4 points at 4,319.19. Both those U.S. indexes had also been in the red shortly before noon and major European markets closed Friday with losses.

The Canadian dollar remained below 71 cents U.S. near 12 1/2-year lows.

It was at 70.78 cents U.S., down 0.16 of a cent from Thursday's close at 70.94 cents U.S.

On the commodity markets, the February gold contract fell $5.80 to US$1,102.00 an ounce and the February crude contract was down 16 cents at US$33.43 per barrel.



Advertisements

Latest Economic News

  • From condoms to caskets: merchandise marks Canada's 150th birthday

    Economic CBC News
    It's been said that Canadians are not brash about their patriotism, but you wouldn't know it from the variety of merchandise, big and small, being snapped up in advance of Canada's 150th birthday July 1. From T-shirts to hats, flags to flasks, condoms to caskets, goods adorned with celebratory logos are popping up faster than you can say sesquicentennial. Source
  • Canadian lumber producers brace for second round of softwood lumber duties

    Economic CTV News
    MONTREAL -- Canada's softwood lumber industry is bracing for a second wave of U.S. duties expected to come Monday that could put further pressure on producers, particularly smaller ones, to cut jobs. The U.S. Source
  • Warning labels might be coming to cheese: CBC's Marketplace consumer cheat sheet

    Economic CBC News
    Miss something this week? Here's the consumer news you need to know from CBC-TV's Marketplace. Get this in your inbox every Friday. Sign up here. Fake drugs American prosecutors accuse CanadaDrugs.com and its CEO Kris Thorkelson of selling unapproved and counterfeit cancer drugs to U.S. Source
  • Debt, protectionism could drag down improving global economy

    Economic CTV News
    FRANKFURT -- The global economy has picked up and prospects for the next few months are the best in a long time. But the recovery is maturing and faces risks from populist rejection of free trade and from high debt that could burden consumers and companies as interest rates rise. Source
  • Air bag maker Takata bankruptcy expected Monday

    Economic CTV News
    DETROIT -- Drowning in a sea of lawsuits and recall costs, Japanese air bag maker Takata Corp. is expected to seek bankruptcy protection in Tokyo and the United States early Monday. Takata was done in by defective air bag inflators that can explode with too much force, spewing out shrapnel. Source
  • How Sears' troubles could hasten radical change in Canada's malls

    Economic CBC News
    Sears' plan to shut down 59 of its locations is grim news for the chain's landlords across Canada. Could it also spell doom for the nation's neighbourhood malls? Anchor tenants — typically big department stores — have always been a critical component of mall design. Source
  • Proposed rules for CRA amnesty program could expose more tax-cheat advisers

    Economic CBC News
    The Canada Revenue Agency is tightening its amnesty program for tax cheats, including a proposed rule that could expose more of the shady advisers who set up dodgy tax schemes to help clients hide their money. Source
  • Italian PM 'guarantees' savers' accounts in 2 troubled banks

    Economic CTV News
    ROME -- Italy's premier says holders of accounts in two troubled Italian banks will have their savings guaranteed despite insolvency proceedings. Premier Paolo Gentiloni was referring to Veneto Banca and Banca Popolare di Vicenza, each struggling with unpaid loans. Source
  • Forget the poop scooping: who will pay the bills for your pet?

    Economic CBC News
    The scene is so common, it's cliché: Your adorable child looks longingly into your eyes, begging for a pet. You somehow navigate the emotionally fraught minefield of cat vs. dog. Then it's time to talk chores. Source
  • 'Eventually, many will run out': How an LCBO strike could impact restaurants and bars

    Economic CBC News
    A long drawn-out strike by liquor store workers could have a significant impact on Ontario's restaurants, wine importers, bars and consumers — but it may offer a boon to some local wineries. "Eventually, many [restaurants and bars] will run out, if not all, if it goes into a month, two months," said Tony Elenis, president and CEO of the Ontario Restaurant Hotel and Motel Association. Source