Solid corporate earnings couldn’t keep investor sentiment afloat for Canada’s main stock index on Thursday. A tumble in telecom shares led to a series of losses that ended in a broad decline.
Wall Street also saw red as the Treasury market made new recession signals. With equity bullishness on the rise, traders aren’t as optimistic as they were a few days ago. Government bond investors pushed two-year yields above 10-year yields by the widest margin since the early 1980s.
Today in the Markets
The Canadian dollar traded for 74.29 cents US, compared to 74.40 cents US on Wednesday.
US crude futures traded $0.87 lower at $77.60 a barrel, while the Brent contract lost $1.01 to $84.08 a barrel.
The price of gold was down US$16.22 to US$1,859.21.
In world markets, the Nikkei was down -22.11 points to 27,584.35, the Hang Seng was up 340.84 points to 21,624.36, the FTSE was up +25.98 points to 7,911.15, and the DAX was up +111.37 points to 15,523.42.
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