Money North American stock markets recover

16:21  07 february  2018
16:21  07 february  2018 Source:   msn.com

Canada suffers biggest job loss in nine years

  Canada suffers biggest job loss in nine years Dismal Canadian job numbers Friday capped off a week of rough financial news, including jaw-dropping volatility on stock markets in Canada and around the globe.Statistics Canada reported record part-time job losses in January that gave Canada’s labour market its biggest one-month drop since the last recession in 2009 — after which stock markets began their bull run.The loss of 137,000 part-time positions was led by Ontario, which hiked its minimum wage by 20 per cent on Jan. 1.A tumultuous week of trading continued Friday, with Toronto’s TSX off more than five per cent since last week and 8 per cent from its all-time high.

The Toronto Stock Exchange had experienced a longer six-day decline prior to Tuesday's close, but drops have not been as steep as in U.S. markets . It ended last week down four per cent before closing down another

The Toronto Stock Exchange had experienced a longer six-day decline prior to Tuesday's close, but drops have not been as steep as in U.S. markets . It ended last week down four per cent before closing down another

TORONTO - Canada's main stock index managed to eke out a minor gain Tuesday as U.S. stocks closed sharply higher after another volatile day.

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TSX, U.S. markets post minor losses

  TSX, U.S. markets post minor losses TORONTO - North American stock indexes finished the day with minor losses, after another up and down day of high-volume trading amid easing volatility and slumping oil prices. The Toronto Stock Exchange's S&P/TSX composite index was down 33.35 points, or 0.22 per cent, to 15,330.58 — about the same amount it rose at the opening of markets — with the influential energy and materials sectors leading decliners. In New York, the Dow Jones industrial average fell 19.42 points, or 0.08 per cent, to 24,893.35, after moving up more than 326 points earlier in the session.© Provided by thecanadianpress.comMeanwhile, the S&P 500 index was down 13.48 points, or 0.

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The Toronto Stock Exchange's S&P/TSX composite index was ahead 29.12 points or 0.19 per cent at 15,363.93, led by strong gains in the health-care and base metals sectors.

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Trading was choppy in the early going Tuesday, after the TSX plunged in initial trading before paring its losses to 61.64 points or 0.4 per cent by mid-afternoon.

In New York, the Dow Jones industrial average finished the trading session up 567.02 points or 2.33 per cent at 24,912.77 — coincidentally, about the same amount it plunged at the opening of markets. The Dow had posted its biggest percentage decline since August 2011 on Monday.

Dow free-falls, erases gains for the year

  Dow free-falls, erases gains for the year TORONTO - North American stock indexes extended last week's slump, as the Dow Jones industrial average plunged nearly 1,600 points during Monday's trading session — bringing an end to a period of record-setting calm in the market. In New York, the Dow finished the day down 1,175.21 points to 24,345.75, or 4.6 per cent, erasing its gains for the year. The S&P 500 index fell 113.19 points to 2,648.94 and the Nasdaq composite index dropped 273.42 points to 6,967.53.The Dow's point loss would be its biggest of all time, though in percentage terms, its 5.6 per cent decline wasn't as big as its worst drop during the financial crisis.

North American stock markets recovered from early losses as investors seemed to believe the U.S. government will come through with a bailout package for the Detroit Big Three automakers despite the recent failure in the U.S. Senate.

North America 's Stock Exchanges . Canada also enjoys the benefits of several great stock markets , with the two most notable being that of the Toronto Stock Exchange and the Montreal Stock Exchange .

Meanwhile, the S&P 500 — a broader market barometer that is comparable to the TSX — was up 46.20 points or 1.74 per cent at 2,695.14. The Nasdaq composite index was up 148.35 points or 2.13 per cent at 7,115.88.

"I'm not sure anything can surprise me at this point, however I do wish I had a degree in psychology ... because so much of this market is being led by the psychology of investing," said Craig Jerusalim, portfolio manager of Canadian equities at CIBC Asset Management.

"At least today, earnings are quite robust and it's all price that's coming down."

While many market observers say a correction was expected after a decade-long bull run, the trigger that sparked the sudden downturn is thought to be U.S. figures released last Friday that suggested long-anticipated wage growth has started to kick in, resulting in inflation and a greater potential for the U.S. Federal Reserve to raise interest rates.

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North American stocks recovered losses to rally on late Wednesday afternoon, shaking off a rocky start as the world's two biggest economies 'Risk-off' bias. But market watchers were hesitant to say that equities had overcome trade war fears as investors started focusing on company earnings.

Toronto stocks in the red, while U.S. stocks bounce back after big drop. View Site.

An increase in interest rates pushes bond yields higher and makes such fixed-income investments more attractive and thus, bets on corporate earnings and dividends less attractive.

The Toronto Stock Exchange had experienced a longer six-day decline prior to Tuesday's close, but drops have not been as steep as in U.S. markets. It ended last week down four per cent before closing down another 1.7 per cent Monday as the downward pressure on markets around the world took Canada's largest exchange down with it.

"The TSX was already trading at a discount to the U.S. markets so there wasn't that much to correct," said Jerusalim.

The commodity-heavy index's continued selloff is an indication that after a long period of market stability, investors are getting re-acquainted with volatility, says Kash Pashootan, CEO and chief investment officer at First Avenue Investment Counsel Inc. in Toronto.

"Monday was the first taste of meaningful volatility that we’ve had in over six years and so investors were trying to figure out what to do and how to handle it."

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Find information on American stock markets , including price, performance over time, technical analysis summaries and key fundamental information. Information on North and South American stock markets .

In particular, investors have fretted that tariffs could be met with retaliatory measures by major trading partners, or about the uncertainty that could come should the U.S. withdraw from the North American Free Trade Agreement. Such factors could result in heavy market downside

Federal Finance Minister Bill Morneau addressed the recent volatility in comments made to the press on Tuesday.

“I understand that people are concerned about their investments, their pensions,” he said. “I think it’s important to separate the real economy from the stock market. Our real economy is doing fine.”

Morneau added that stock market fluctuations won’t affect budget planning.

The steep drops Friday and Monday wiped out the gains the Dow and S&P 500 made since the beginning of the year, but both remain higher over the past 12 months. The Dow is up 24 per cent over that time, the S&P 500 18 per cent.

Even after Tuesday's gain, the S&P 500 is still down 6.2 per cent from the recent record high it set on January 26. That's less than the 10 per cent drop that is known on Wall Street as a "correction."

Corrections are seen as entirely normal during bull markets, and even helpful in curbing excessive gains and allowing new and allowing new investors to buy into the market at lower prices.

In currency markets, the Canadian dollar closed at an average trading value of 79.81 cents US, down 0.30 of a U.S. cent. The loonie has slipped 1.57 cents U.S. since Friday as jittery investors seek the U.S. greenback as a safe haven in times of distress.

On the commodities front, the March crude contract was down 76 cents to US$63.39 per barrel and the March natural gas contract was up one cent to US$2.76 per mmBTU.

The April gold contract was down US$7.00 to US$1,329.50 an ounce and the March copper contract was down three cents to US$3.19 a pound.

— With files from the Associated Press

Markets plunge, Dow enters correction territory .
North American stock indexes plunged steadily throughout the trading session on Thursday, with losses on the Dow Jones industrial average and the Standard & Poor 500 entering correction territory. In New York, the Dow was down 1,032.89 points, or 4.15 per cent, to 23,860.46, and the S&P 500 index was down 100.66 points, or 3.75 per cent, to 2,581.00. The Nasdaq composite index was down 274.82 points, or 3.90 per cent, to 6,777.16. define("homepageFinanceIndices", ["c.deferred"], function () { var quotesInArticleFormCode = "PRMQAP"; var config = {}; config.

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