Loonie, U.S. markets join TSX in morning declines

TORONTO -- Canada's dollar and U.S. stock indexes began the second week of 2016 on a positive note Monday but later took a dive and joined the Toronto Stock Exchange in negative territory.

See Full Article

The S&P/TSX Composite index was down 148.84 points or 1.2 per cent at 12,415.75. The index lost 4.3 per cent of its value last week, and is down more than 20 per cent from an all-time high set in September 2014 -- signalling a bear market.

In New York, the major indexes started positive but were down about a half a percentage point after 90 minutes of trading. The Dow Jones average of 30 stocks was down 38.55 points at 16,307.90, the broader S&P 500 index fell 8.13 points to 1,913.90 and Nasdaq dropped 20.54 points to 4,250.24.

Major European equity indexes had begun the day but turned negative. London's FTSE 100 and Paris CAC 40 were slightly lower and Germany's DAX was up a bit. Asian markets closed mostly lower before North America trading began, with China's Shanghai suffering another major decline, falling about 5.3 per cent.

The Canadian dollar was at 70.48 cents US, down 0.20 cent from Friday's close but had been up earlier.

On the commodity markets, the February gold contract rose $3.30 to US$1,101.20 an ounce, the February crude contract was down $1.36 at US$31.80 per barrel and the February contract for natural gas was down eight cents at US$2.39.



Advertisements

Latest Economic News

  • Amazon workers in Germany, Italy stage Black Friday strike

    Economic CTV News
    BERLIN -- Workers at a half dozen Amazon distribution centres in Germany and one in Italy walked off the job Friday, in a protest timed to coincide with "Black Friday" to demand better wages from the American online giant. Source
  • Sobeys to cut 800 office jobs as part of reorganization

    Economic CTV News
    STELLARTON, N.S. -- The Sobeys grocery business will be cutting about 800 office jobs across Canada. Its chief executive, Michael Medline, says the job cuts are part of efforts to create one national organization out of five regional businesses. Source
  • Online sales surge in U.S. on eve of Black Friday

    Economic CBC News
    U.S. shoppers had splurged more than $1.52 billion US online by Thanksgiving evening, and more bargain hunters turned up at stores this year after two weak holiday seasons as retailers opened their doors early on the eve of Black Friday. Source
  • Black Friday begins as consumers flock to stores and online

    Economic CBC News
    U.S. shoppers had splurged more than $1.52 billion US online by Thanksgiving evening, and more bargain hunters turned up at stores this year after two weak holiday seasons as retailers opened their doors early on the eve of Black Friday. Source
  • Looking for bargains online? Who you are can affect what you pay

    Economic CBC News
    Ever notice how after online shopping or browsing, the advertisements you see on every website seem to have been personalized to include whatever you were looking for? A Marketplace investigation reveals it's not just ads that your browsing history can affect — it's also the price you're charged. Source
  • Asian stocks drop after big sell-off

    Economic CTV News
    HONG KONG - Asian stock markets were mostly lower Friday with investors finding little guidance with Wall Street closed for the Thanksgiving holiday and Chinese markets in focus after a big sell-off the previous day. Source
  • World stocks rise amid upbeat European data, U.S. holiday

    Economic CTV News
    HONG KONG -- World stock markets were mostly higher Friday after more upbeat economic data in Europe, though trading was still subdued due to the U.S. Thanksgiving holiday. Investors were monitoring Chinese shares, which stabilized after an early tumble. Source
  • Stores hope deals, excitement draw shoppers for Black Friday

    Economic CTV News
    NEW YORK - Stores are hoping deals and excitement bring shoppers to stores and to their sites for Black Friday, one of the biggest shopping days of the year. But Black Friday has morphed from a single day when people got up early to score doorbusters into a whole season of deals, so shoppers may feel less need to be out. Source
  • After weeks of deals, U.S. stores aim to draw Black Friday crowds

    Economic CTV News
    NEW YORK -- Retailers are hoping deals and excitement bring shoppers to stores and to their sites for Black Friday, one of the biggest shopping days of the year. But Black Friday has morphed from a single day when people got up early to score doorbusters into a whole season of deals, so shoppers may feel less need to be out. Source
  • TransCanada: Over 24K gallons of oil recovered from spill

    Economic CTV News
    AMHERST, S.D. -- TransCanada Corp. says it has recovered more than 24,000 gallons of oil from the site of a pipeline leak discovered last week in South Dakota. The company said 24,450 gallons of oil had been recovered as of Wednesday. Source