@ the Bell: TSX bounces off the ropes to victory

Canada’s main stock index defied the odds on Thursday and closed out in positive territory. Losses in metals and gold issues were cancelled out by health-care and industrial gains. Fears of a global banking meltdown continued to worry investors and dragged the TSX in earlier trading. A common theme or the week, as Canadian stocks have lost nearly all of their yearly gains in the last few days. Canadian wholesale trade increased by 2.4 per cent in January from December.

US stocks also rebounded in the fallout of the collapse of Silicon Valley Bank and Signature Bank, which ignited concerns in global financial stocks. Amid the ongoing crisis, regional bank shares made a comeback on potential support.

Today in the Markets TSX 19,539.01 +160.17 TSX TSXV 602.20 +5.68 CSE 182.28 -0.43 TSXV DJIA 32,246.55 +371.98 NASDAQ 11,717.28 +283.23 S&P 500 3,956.72 +64.79

The Canadian dollar traded for 72.86 cents US, compared to 72.66 cents US on Wednesday.

US crude futures traded $ 0.80 higher at $ 68.41 a barrel, and the Brent contract gained $ 1.06 to $ 74.75 a barrel.

The price of gold was down 1.74 to US$ 1,919.82.

In world markets, the Nikkei was down 218.87 points to 27,010.61, the Hang Seng was down 335.96 points to 19,203.91, the FTSE was up 65.58 points to 7,410.03, and the DAX was up 231.84 points to 14,967.10.

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The post @ the Bell: TSX bounces off the ropes to victory appeared first on The Market Herald Canada.

@ the Bell: TSX bounces off the ropes to victory