CLOSING BELL: Energy weighs TSX while Dow gets post-July 4th lift
Investors on Wall Street didn’t seem overly concerned today with another round of impending tariffs.
The US is planning on slapping China with tariffs on $34 billion worth of goods tomorrow. But, the Dow Jones actually closed higher, at 24,356, gaining 181 points, after being closed yesterday for American Independence Day. This comes as the Federal Reserve plans to stay the course of raising interest rates gradually this year.
It was a different story on Bay Street as the energy sector weighed Canada’s biggest stock market down, thanks to lower oil prices. It closed at 16,266, losing 38 points. At press time oil is down $1.12 to $73.02 U.S. per barrel, gold is up $3.90 to $1257.40 an ounce, and the loonie is up close to a tenth of a cent to 76.12 cents U.S.