Monday, October 5th0.6°C

New York tepid after storm closure

The Toronto stock market was positive Wednesday in a fifth day of advances, led by rising mining stocks as commodity prices gained ground.

But New York indexes were weak as markets reopened for business after superstorm Sandy forced a two-day shutdown of U.S. financial markets.

The S&P/TSX composite index gained 63.11 points to 12,440.16.

The TSX Venture Exchange was 7.95 points higher to 1,310.88.

The Dow Jones industrials found early support from the latest earnings report from General Motors Corp. and home improvement giant Home Depot, but at mid-afternoon the blue chip barometer was down 17.47 points to 13,089.74.

The Nasdaq dipped 13.08 points to 2,974.87, reflecting a one per cent drop in Apple Inc. shares. The S&P 500 index gave back 1.21 points to 1,410.73.

Analysts pointed out that the New York markets had little to react to over the past couple of days with no major economic reports, while many companies postponed the release of earnings reports.

"I would expect the markets really to take their lead from tomorrow and the following days as we get more economic data and more earnings releases," said Jeff Bradacs, portfolio manager at Manulife Asset Management.

He pointed out that traders are looking to the latest reading on the Chinese manufacturing sector Wednesday night and the U.S. non-farm payrolls report for October, which comes out Friday.

"Really the key is actually the next couple of days."

Traders also looked ahead to a U.S. election Tuesday that is too close to call and the approaching fiscal cliff.

The Canadian dollar gave up early gains as the latest reading on economic growth missed expectations.

The loonie was down 0.02 of a cent to 100.05 cents US after Statistics Canada reported that gross domestic product edged down 0.1 per cent in August, the first monthly decline since February 2012. A 0.2 per cent rise had been expected.

The Canadian Press

Read more Business News

Recent Trending

Today's Market
S&P TSX13339.74+97.85
S&P CDNX525.56-0.33
S&P 5001951.36+27.54
CDN Dollar0.7634+0.0032
Natural Gas2.448-0.003

Okanagan Companies
Pacific Safety0.215+0.000
QHR Technologies Inc1.19+0.01
Metalex Ventures0.06+0.00
Russel Metals21.48-0.07
Copper Mountain Mining0.42+0.03
Colorado Resources0.08+0.01
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.095+0.005
Decisive Dividend Corp3.49+0.45
Diamcor Mining0.90+0.02



23229281233 Lund Road
5 bedrooms 3 baths
more details
Click here to feature your property
Please wait... loading

Perfect (reno’d) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council