“The Tolerance of Differences is the Measure of Civilization” -Vincent Massey
Best Week for TSX in 7 Months
Canada’s main stock index fell on Friday due to a drop in shares of gold and energy producers, but the U.S. Federal Reserve’s support for monetary stimulus helped the index post its biggest weekly gain in more than seven months. The Toronto market eased after recording gains in the previous four sessions and hitting a one-month high earlier in the day. It still ended the week up 2.7%. The S&P/TSX composite index fell 31.09 points to 12,462.17. The TSX had jumped nearly 200 points in the previous session in the wake of reassurances from U.S. Federal Reserve chairman Ben Bernanke that the central bank was in no hurry to curtail key economic stimulus measures. The Canadian dollar was off 0.1 of a cent at 961.19 cents US.
Boeing dragged the Dow lower after news of a fire on board an empty 787 Dreamliner plane at London’s Heathrow Airport. Also, Thomson Airways says one of its Boeing 787s travelling from England to the U.S. had to turn back after experiencing a technical issue. Boeing shares fell 4.65 per cent to $101.91 (U.S.) a barrel. The Nasdaq gained 21.78 points to 3,600.08 and the S&P 500 moved 5.17 points higher to a record high close of 1,680.19.
Market Update as of July 12 2013
The TSX closed at 12462, up 327 points or 2.69% over the past week. YTD the TSX is down -0.63%.
The DOW closed at 15464, up 328 points or 2.17% over the past week.YTD the DOW is up 18.01%.
The S&P closed at 1680, up 48 points or 2.94% over the past week.YTD the S&P is up 17.81%.
The Nasdaq closed at 3600, up 121 points or 3.48% over the past week.YTD the Nasdaq is up 16.47%.
Gold closed at 1284, up 62.00 points or 5.07% over the past week.YTD gold is down -23.57%.
Oil closed at 106.04, up 2.84 points or 2.75% over the past week.YTD oil is up 14.55%.
The USD/CAD closed at 1.0397, down -0.0179 points or -1.69% over the past week.YTD the USD/CAD is up 5.28%.
Sources: Bloomberg; Investment Executive; advisor.ca