CLOSING BELL: TSX makes back early losses while energy weighs
It was a fairly flat day on Bay Street while Wall Street took some losses.
The TSX was lower this morning, weighed down by the energy sector, but it made up ground later in the day to close at 15,604, as gold helped push it 26 points higher. Ongoing concerns over climbing U.S. production compared to OPEC keeping up supply cuts are taking their toll on oil prices.
In New York the Dow Jones was higher early but steadily gave those gains up as the day went on, ending down 157 points to 25,178. Experts are saying some of the recent gains from positive jobs data is being overshadowed by lingering concerns over tariffs. Investors will have lots to digest this week as numbers for American inflation and retail get released.
Texture has been sold. Apple is buying up the popular magazine app that puts more than 200 magazines right in the palm of your hand. Texture was launched eight years ago. Apple didn’t release the sale price.
At presstime oil is down 69 cents to $61.35 U.S. per barrel, gold is up 10 cents to $1324 an ounce, and the loonie is down a tenth of a cent to 77.90 cents U.S.