“It’s never too late to start saving” – Anonymous

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

This information is provided for general information purposes only. It does not constitute professional advice. Please contact a professional about your specific needs before taking any action.