MID-DAY: Dow slides on poor retail numbers in US; Valeant Pharmaceuticals shares boosted by approval of new psoriasis drug
Wall Street is taking a hit following a report on US retail sales. The numbers slid 0.1 per cent in February as Americans cut back on major purchases like new cars. The Dow is down to 24,961. This has given rise to the Loonie though, which is up to 77.22 cents US as its counterpart Greenback falls.
The TSX is continuing gains from this morning, up to 15,678.
The price of oil has seen some growth thanks to a boost in the commodities market. This comes on the news of a booming Chinese economy. The price of crude is up to 61 dollars a barrel.
Gold is down to 1,325 an ounce.
Valeant Pharmaceuticals shares are getting a boost after Health Canada approved the use of a new psoriasis drug in the country. Shares jumped 4.1 per cent to $21.72.