MID-DAY: TSX tanks on poor tech stocks; Loonie pushes ahead
Despite some economic uncertainty hitting other currencies, the Loonie is getting a local boost. The Canadian currency is up to 76.10 cents US after StatCan reported factory sales, primarily in autos, pushed .2 per cent higher in September. Brexit stress and a weak Greenback also helped the Loonie.
And the price of crude isn’t hurting either as US oil gains to 57.85 a barrel. The TSX isn’t reflecting positive Loonie vibes, as the Bay Street index is in the red down 16 points to 15,128. The weight comes from the constant beating the tech sector is taking as Nvidia weights the markets following in the footsteps of Apple this week.
The Dow is still blazing ahead despite this tech sector dip gaining 72 points to 25,361.