The Toronto stock market was higher early Friday as prices rose for key commodities while data suggested a cooling of the Canadian housing market.
The S&P/TSX composite index gained 55.80 points to 12,799.91 shortly after markets opened.
The Canadian dollar was up 0.19 of a cent at 98.01 cents US, coming off a three-week high of 98.22 reached earlier in the morning.
The Canadian Real Estate Association reported that home and condo resales fell 2.1 per cent in February from the previous month, when they logged a small gain.
On a year-over-year basis, last month's activity was down 15.8 per cent
Meanwhile, U.S. markets gave back some of the enthusiastic gains from recent sessions, when the Dow surged to a record high, while the S&P neared its own record mark.
The Dow industrials dropped 34.99 points off its new high to 14,504.15.
The Nasdaq was down 4.75 points to 3,254.18 and the S&P 500 index slid 2.97 points to 1,560.26.
In commodities, the April crude contract on the New York Mercantile Exchange added 56 cents to US$93.59 a barrel, while the TSX energy sector gained 0.6 per cent.
Gold stocks were up 0.4 per cent as April bullion rose 90 cents to US$1,591.60 an ounce. May copper gained 0.7 of a cent to US$3.54 a pound.
Meanwhile, in the U.S. a spike in gas prices drove up expenses in February. The Labor Department says consumer prices increased a seasonally adjusted 0.7 per cent last month from January, the biggest rise since June 2009. Three-fourths of the increase reflected a 9.1 per cent surge in gas prices.
Read more Business News
- Sun win one for fallen mateBCFC
- New cell tower?West Kelowna
- Social media thwarts shoplifterPenticton / S. Okanagan
- New Sockeye hatcheryPenticton / S. Okanagan
|QHR Technologies Inc||1.37||+0.05|
|Anavex Life Sciences||0.223||-0.0031|
|Copper Mountain Mining||2.66||-0.02|
|Sunrise Resources Ltd||0.02||-0.005|
|Mission Ready Services||0.29||-0.01|
“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...
Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...
There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...