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Major North American Markets Post Weekly Gains
The Toronto Stock Exchange’s S&P/TSX Composite Index closed up slightly Friday by 3.78 points, or 0.02 per cent, to 15,197.82. The TSX was up 186.82 points for the week, good for a weekly gain of 1.24 per cent.
Markets south of the 49th saw the Dow Jones Industrial average and NASDAQ post their largest weekly gains in nearly seven years. The S&P 500 also posted its largest weekly gain in six years.
Oil continues to face downward pressure as concerns of oversupply persisted; however, losses were mitigated somewhat by the possibility of the Organization of the Petroleum Exporting Countries (OPEC) and Russia agreeing to a production cut in the next week.
The oil pullback certainly weighed on the TSX Friday.
In Free Trade news, the U.S., Canada and Mexico signed the USMCA (NAFTA 2.0) agreement, a positive sign for the Canadian economy going forward.
Sources: Advisor.ca, Globe Advisor
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