Canada, U.S. stock markets rebound on Friday, with the Dow Jones topping 50K
BNN Bloomberg
Stock markets in Canada and the U.S. saw gains on Friday as the Dow Jones industrial average topped 50,000 for the first time to end the week.
“Today feels like a little bit of a rebound from what was a volatile week,” said Adam Ludwick, the director of asset allocation at NEI Investments.
The S&P/TSX composite index was up 476.38 points at 32,470.98.
Many of the gains in the Canadian stock market came from the basic materials sector. He said that the price of precious metals has seen a lot of movement recently, but has still been strong so far this year.
“That’s given a boost to the Canadian mining stocks, so we’re seeing a positive tilt today,” said Ludwick.
Prices in the metals market also calmed a bit following their own wild swings. Gold rose 1.8 per cent, while silver added 0.2 per cent. The April gold contract was up US$90.30 at US$4,979.80 an ounce.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Another climb for oil prices sent the U.S. stock market sharply lower, as hopes collapsed for a possible cut to interest rates by the Federal Reserve.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Jurors wade through daunting evidence in high-stakes Meta trial about social media risks to children
A stream of testimony and evidence has been presented in a New Mexico case exploring what Meta knew about the effects of its platforms on children.
Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Statistics Canada says retail sales were up 1.1 per cent at $70.7 billion in January, led by sales at motor vehicle and parts dealers.
As Qatar reels from an Iranian attack that has hobbled its giant natural gas company, its boss, who doubles as the country’s energy minister, says he had warned officials and executives of just such a danger should Iran’s own sites be hit.
Top Picks from Greg Newman, Senior Wealth Advisor & Portfolio Manager, Newman Group, ScotiaMcLeod