AFTER THE BELL: China/US relations set pace on TSX, Dow
Global trade dictated North American markets today.
Optimism over trade talks between China and the U.S. helped push the Dow to near triple digit territory.
But overall, investors were tempered by America slapping another $16-billion of tariffs on Chinese goods later this week, along with China’s expected retaliatory measures.
On Bay Street, the TSX edged up seven points with five of the index’s major sectors in positive territory.
The Dow finished 89 points in the green while the Nasdaq ended four higher.
International relations also impacted oil today, with supply fears over U.S. sanctions on Iran balanced by worries over a slowdown in the global economy.
Oil moved up 65 cents to $66.56 US a barrel.
The loonie was relatively flat, up 10/100ths of a cent to $0.7666 US, while demand drove gold prices higher, up $12.00 to $1,189 an ounce.
Meanwhile, the wildfires burning through 443 hectares of British Columbia land are being linked to a rise in both lumber prices and the value of stocks of lumber companies, with the toll taken from wildfires raising concern over lumber supplies.