CLOSING BELL: TSX, Dow both close week up; loonie continues to struggle
Markets in Toronto and New York both had a positive end to the week. The TSX got a boost thanks to the energy sector. Rising oil prices pushed it up 40 points to close the day at 15,711, its seventh straight winning session.
On Wall Street financials were higher on the back of data showing good numbers for U.S. factory production and that consumers are looking more positive. Production was up 1.1 per cent last month and the University of Michigan’s initial consumer sentiment index reading beat expectations as it rose to 102, a 14-year-high.
The Dow Jones closed at 24,946 up 72 points. That makes it back-to-back winning days after starting the week off down three days in a row.
The loonie kept on taking hits today with the slumping housing market in Canada a big contributing factor to that. At press time tt’s down a quarter of a cent to 76.36 cents U.S., oil is up $1.01 to $62.20 U.S. per barrel, and gold is down $4.10 to $1313.70 an ounce.