MID-DAY: Wall Street and Bay Street continue US jobs report boost; Loonie dips with oil price drop
The momentum created by a stable February US jobs report last week is carrying over to Monday.
The Dow rallied above 25,000 this morning and is down slightly to 25,321. On Bay Street, the TSX is up to 15,577 with a bit of weight coming from the gold and material sector according to analysts. Gold has slipped to 1,318 after getting a boost from nervous investors last week. This comes ahead of a Federal Reserve meeting in the US where policymakers are expected to announce an interest rate increase, one of three predicted to come this year.
Crude production is expected to be high in the US this year according to recent reports, which has weighted the price of oil down to 61.26. Oil prices are also holding back the Loonie, which has fallen below the 78 cent mark to 77.98 cents US.