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
- Boonstock beginsPenticton / S. Okanagan - 2:11 pm
- Pro-Palestinians protestWest Kelowna - 3:07 pm
- Standing up for Israel?Poll - 5:00 pm
- YLW runway clearKelowna - 1:02 pm
|QHR Technologies Inc||1.20||-0.01|
|Anavex Life Sciences||0.255||-0.007|
|Copper Mountain Mining||2.67||-0.08|
|Sunrise Resources Ltd||0.035||+0.005|
|Mission Ready Services||0.155||+0.005|
On March 6, 2010 a bridge in Turku, Finland bent 56 inches (143 centimeters) due to structural failures of both piers. No one was injured. The bridge had to be demolished 4 months later. Our infrast...
Eighty percent of our success in learning from other people is based on how well we listen. Other people’s experience can be enormously helpful. With it we can often overcome time restraints and...
Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...