TSX heads into weekend a little higher
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
- Paddlers descend on city hallKelowna - 5:00 am
- Fire crews take out the trashKelowna - 6:14 am
- Mystery weed identifiedKelowna
- Double rainbow showKelowna
|QHR Technologies Inc||1.23||+0.01|
|Anavex Life Sciences||0.185||0.00|
|Copper Mountain Mining||2.51||-0.01|
|Sunrise Resources Ltd||0.065||+0.045|
|Mission Ready Services||0.335||-0.005|
Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...
Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...
Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...