The Toronto stock market closed slightly higher amid a mixed bag of economic data while traders kept a close eye on how U.S. budget negotiations are progressing.
The S&P/TSX composite index gained 36.19 points to 12,239.04. The TSX Venture climbed 2.52 points to 1,220.9 with traders unwilling to make big commitments while Democrat and Republican leaders wrangle over ways to avoid steep spending cuts and significant tax increases from kicking in automatically in January if there's no deal.
"No one is wanting to step in and take a position ahead of seeing if there's a resolution with the fiscal cliff," said Jennifer Dowty, portfolio manager at Manulife Asset Management.
"In order to get the markets moving, we need to see a fiscal cliff resolution. Until that time, the markets, I think, are just going to lack momentum and continue to trade sideways."
The Canadian dollar was down 0.09 of a cent to 100.64 cents US as the economy stalled out during September. Statistics Canada reported there was no growth in gross domestic product during that month following a 0.1 per cent dip during August.
Read more Business News
- Did a terrorist run over soldiers?Canada - 5:39 am
- Family condemns RCMP BC
- Child pornography sentencePenticton / S. Okanagan
- Bobbitt hearing continuesPenticton / S. Okanagan
|QHR Technologies Inc||1.12||+0.01|
|Anavex Life Sciences||0.191||+0.001|
|Copper Mountain Mining||1.99||+0.05|
|Sunrise Resources Ltd||0.06||0.00|
|Mission Ready Services||0.45||0.00|
This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...
Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...
The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...