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CLOSING BELL: TSX gives up early energy gains as day goes on, closes slightly higher

Patrick Grapes
By Patrick Grapes

Canada’s main stock market got an early boost today from energy shares, but it couldn’t keep up the pace. Higher oil prices pushed the heavyweight energy sector higher and the TSX was up over 60 points, but that slowly eroded and it closed at 16,192, up just eight points.

In New York the Dow Jones was up with McDonald’s shares playing their part in the jump. There’s a report out that the company is planning layoffs, which saw the restaurant’s share prices go up by more than four per cent today. The Dow closed at 25,241, 95 points higher.

Investors will be on the lookout for any more signs of a possible global trade war as G7 leaders meet in Quebec this weekend. Cannabis stocks could be in for a good day tomorrow as the senate makes its final decision on legalization tonight.

And oil is up $1.19 to $65.92 U.S. per barrel, gold is down 50 cents to $1300.90 an ounce, and the loonie is down three tenths of a cent to 77.01 cents U.S.

Patrick Grapes
Patrick Grapes

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