CLOSING BELL: North American rallies come to an end as TSX, Dow Jones slip
The North American markets’ recent winning streaks came to an end today.
In Toronto, losses in the financial and consumer cyclical sectors sent Canada’s main stock market lower. Things could have been worse, but energy gains tempered the losses. The TSX closed the day at 15,454, losing 75 points, after hitting a four-week high yesterday, snapping a streak of five straight winning sessions.
In New York technology stocks led the dive. Apple one of the hardest hit today, down more than 2.75 per cent, on the back of a lack of demand for the iPhone 8. The Dow Jones lost 83 points, ending the day at 24,664.
The Mutual Fund Dealers Association of Canada is looking to make its business more transparent for investors when it comes to fees. The organization released a discussion paper today asking for ideas from industry members on how to do just that.
At press time oil is down 20 cents to $68.27 U.S. per barrel, gold is up $5.80 to $1,347.70 an ounce, and the loonie is down a quarter of a cent to 78.98 cents U.S.