Canadian stock market rebounds from early losses to hit record high
Global News
The S&P/TSX composite index closed up 37.98 points to a record 21,594.52.
Canada’s main stock index rebounded from early losses to climb yet again while U.S. markets dipped from record highs.
The S&P/TSX composite index closed up 37.98 points to a record 21,594.52.
In New York, the Dow Jones industrial average was down 112.24 points at 36,319.98. The S&P 500 index was down 16.45 points at 4,685.25, while the Nasdaq composite was down 95.82 points at 15,886.54.
Colin Cieszynski, chief market strategist at SIA Wealth Management, says investors were mainly pausing and taking the time to reassess things.
“We’ve just had a big run in markets in the last few months and everybody’s just kind of stopping to catch their breath and look around and see where we’re at,” he said in an interview.
The energy sector slipped despite a 2.7 per cent increase in crude oil prices.
It lost 0.3 per cent as share decreases by oil and gas producers were partially offset by gains for oilfield services and equipment companies.
The December crude contract was up US$2.22 at US$84.15 per barrel and the December natural gas contract was down 44.8 cents at US$4.98 per mmBTU.
