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TSX, New York markets mixed amid lower oil

Posted on Sep 1, 2016 by in Scarborough | 0 comments

TSX, New York markets mixed amid lower oil

TORONTO — The Toronto stock market was little changed in late morning trading while the Canadian dollar climbed despite falling crude prices.

At the Toronto Stock Exchange, the S&P/TSX composite index climbed 8.76 points to 14,606.71 after two hours of trading.

The Canadian dollar was up 0.16 of a cent at 76.40 cents US.

The October crude contract lost 97 cents at US$43.73 per barrel.

New York stock markets were also in the red, with the Dow Jones industrial average down 73.11 points at 18,327.77, the broader S&P 500 composite index declining 9.41 points to 2,161.54 and the Nasdaq composite losing 10.95 points to 5,202.27.

The U.S. Labor Department reported that slightly more Americans applied for unemployment benefits last week, but overall levels remain at historic lows — suggesting that the pace of hiring was solid in August.

Commodities were mixed as the December gold contract climbed $4.80 to US$1,316.20 an ounce and the October natural gas shed nine cents to $2.80 per mmBTU.

The December copper contract was unchanged at US$2.08 a pound.

By The Canadian Press

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