CLOSING BELL: Middle East tensions ease, oil loses but markets see gains
Bay Street was higher today while Wall Street saw good gains as investors took in earnings season data and tensions in the Middle East eased.
In Toronto industrials were up as fears of further military action in Syria lightened, but energy losses kept things in check.
One energy company that saw a good day though is Kinder Morgan. Shares were up more than two per cent after Prime Minister Trudeau committed both financial and legislative help to ensure the Trans Mountain pipeline expansion gets built. The TSX closed at 15,300, up 26 points.
In New York the markets rallied on the backs of the health, tech, and banking sectors as investors are keeping their eyes on what’s expected to be a very good earnings season. The Dow Jones ended the day 212 points higher at 24,573.
There’s progress on the NAFTA front, with the president of Mexico saying over the weekend that his country as well as Canada and the United States will be speeding up negotiations in hopes of getting a new agreement signed within a few weeks.
At press time oil is down $1.02 to $66.37 U.S. per barrel, gold is up $1.10 to $1349 an ounce, and the loonie is up a third of a cent to 79.53 cents U.S.