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
- Store owner fed up with theftPenticton / S. Okanagan - 7:04 pm
- Naming Kelowna's new hotel?Poll - 5:00 pm
- Borba testimony concludesPenticton / S. Okanagan - 5:05 pm
- Medical issue sends SUV into creekKelowna - 3:55 pm
|QHR Technologies Inc||1.19||0.00|
|Anavex Life Sciences||0.25||+0.01|
|Copper Mountain Mining||2.93||+0.02|
|Sunrise Resources Ltd||0.025||0.00|
|Mission Ready Services||0.245||-0.005|
Apple has taught many entrepreneurs the importance of design, how to create buzz when introducing new products to the marketplace, how to pioneer new technology and the importance of superior quality....
Move over “big guys” there’s a new brokerage in town featuring local expertise, long standing experience and a fresh boutique approach. Kelowna, August 31 2014 – You may have...
There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...