It was another day on the ropes for Canada’s main stock index on Thursday, but despite an attempted comeback, the TSX ended squarely in the red.
Weak company earnings doused investor sentiment and concerns of aggressive interest rate hikes from the Federal Reserve put pressure on commodity prices. Gold prices bounced back after falling in early trading, but gains were kept in check.
South of the border, US stocks slid into the red while bond yields moved higher, but bitcoin rallied to its best performance in six months as investors digested another round of economic data.
Today in the Markets TSX 20,606.42 -113.97 TSXV 627.22 +3.97 CSE 201.31 +4.34 DJIA 33,696.85 -431.20 NASDAQ 11,855.83 -214.76 S&P 500 4,099.31 -48.29
The Canadian dollar traded for 74.30 cents US, compared to 74.61 cents US on Wednesday.
US crude futures traded $ 0.60 lower at $ 77.99 a barrel, and the Brent contract lost $ 0.74 to $ 84.64 a barrel.
The price of gold was up 1.48 to US$ 1,837.97.
In world markets, the Nikkei was up 194.58 points to 27,696.44, the Hang Seng was up 175.50 points to 20,987.67, the FTSE was up 14.70 points to 8,012.53, and the DAX was up 27.30 points to 15,533.64.
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The post @ the Bell: Despite market slump, gold scores solid rebound appeared first on The Market Herald.
@ the Bell: Despite market slump, gold scores solid rebound