Loonie, stock indexes lose strength after positive start; oil and gold up

TORONTO -- The weak Canadian dollar was again hovering near 70 cents US as North American stock markets edged lower Wednesday.

See Full Article

The Canadian dollar trading at 70.08 cents US, down 0.06 of a cent from Tuesday's close after it fell briefly below 70 cents US for the first time in nearly 13 years before closing at 70.14 cents US.

North American stock markets began Wednesday's trading session on a positive note but slipped into the red mid-morning.

The Toronto Stock Exchange's S&P/TSX composite index was down 6.98 points at 12,366.92. On Tuesday, the index added 54.65 points, its first positive result since the Christmas break.

The Dow Jones average of 30 stocks was down 44.85 points at 16,471.37, the broader S&P 500 index was down 5.49 points at 1,933.19 and the Nasdaq dropped 15.22 points to 4,318.495. .

Major stock indexes in Asia mostly closed higher, except the Shanghai index which fell about 2.4 per cent. European markets remained mostly higher as the North American indexes turned negative.

On the commodity markets, the February gold contract was up $1.60 at US$1,086.80 an ounce and the crude contract was up $1.04 at US$31.48 per barrel. On Tuesday, crude futures dipped below US$30 for the first time in years.



Advertisements

Latest Economic News

  • U.S. economy expanded at weakest pace in 3 years in first quarter of 2017

    Economic CTV News
    WASHINGTON -- The U.S. economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. The result fell far short of President Donald Trump's ambitious growth targets and underscores the challenges of accelerating economic expansion. Source
  • Montreal landlord fined after tenants rent out condo illegally

    Economic CTV News
    A Montreal landlord says he’s been fined more than $1,200 because the tenant living in his condo listed the space on Airbnb without his knowledge. Gerry Galiatsatos said his unit came with tenants when he purchased it less than a year ago. Source
  • Swedish cows in a great moooo-d as summer pastures open

    Economic CTV News
    DROTTNINGHOLM, Sweden -- Despite a cold wind and chilling temperatures, spring has come to Sweden. At least, spring for the milk cows. In an annual event that warms hearts across the country, "koslapp" -- the cow release -- has become a popular family outing for urban residents. Source
  • Trump to spend Day 100 in office talking trade

    Economic CTV News
    WASHINGTON -- U.S. President Donald Trump is marking his 100th day in office by talking tough on trade.Trump's first 100: Day-by-day highlights Analysis: We've read all President Trump's tweets, so you don't have to The White House says the president will sign an executive order Saturday that will direct his Commerce Department and the U.S. Source
  • Trump says he's brought 'profound change' to Washington

    Economic CTV News
    WASHINGTON -- U.S. President Donald Trump on Saturday marked his 100th day in office by saying he had brought "profound change" to Washington and reaffirming that "my only allegiance" is to those he governs.Trump's first 100: Day-by-day highlights Analysis: We've read all President Trump's tweets, so you don't have to During an evening trip to Pennsylvania, one of the states that propelled his unlikely election victory, Trump planned to sign an executive order directing the Commerce Department…
  • 'Not for the faint of heart': Why getting a marijuana producer licence is a long shot

    Economic CBC News
    The regulatory gates to Canada's legal marijuana regime are open, but only a crack. Health Canada has received 1,630 applications for licences to grow or sell medical cannabis as of March 31. Only 43 licences have been approved so far, representing just 2.6 per cent of the total applications. Source
  • Trump will zero in on trade agreements during 100th day

    Economic CTV News
    WASHINGTON -- U.S. President Donald Trump will spend his 100th day in office talking tough on trade in one of the states that delivered his unlikely win. The president is expected to sign an executive order Saturday that will direct his Commerce Department and the U.S. Source
  • B.C. leader could drag Canada into unwanted battle with U.S. on softwood: expert

    Economic CTV News
    BURNABY, B.C. -- A vow by British Columbia's Liberal leader to fight American tariffs on softwood lumber may force the federal government to wage an unwanted battle with the United States, an international trade expert says. Source
  • Hacker threatens to release stolen copies of Netflix series

    Economic CTV News
    SAN FRANCISCO -- A hacker claims to have stolen the upcoming season of Netflix's hit series "Orange Is The New Black," and is asking for an unspecified ransom to not release the entire fifth season online. Source
  • Hacker releases stolen copies of Netflix series

    Economic CTV News
    A hacker claims to have followed through on a threat to release several episodes from the upcoming season of Netflix's hit series "Orange Is The New Black." The hacker, which goes by the name The Dark Overlord, announced the move on Twitter early Saturday. Source