The outlook for the Canadian Stock Market for Friday was for the market to try to retake 14800 but instead oil prices fell following comments from Saudi Arabia which cast doubt on the ability of OPEC to stabilize oil output. The Canadian dollar fell along with most commodities as the US dollar rose.
Meanwhile retail data showed a decline in consumer spending. Canadian bank stocks also fell on Friday.
TSX Composite Index Falls 99.25 Points
Friday marked the end of the 4 day rally for the TSX Composite Index. The decline of 99.25 points left the index at 14,697.93 for a decline of 0.67% on Friday.
However for the week, the TSX Composite Index rose 185.72 points for a gain of 1.25%.
Here is the Canadian Stock Market outlook for Monday Sep 26 2016 and an update to the TSX Market Direction Portfolio. I have also included 4 trade ideas I am considering for Monday……………………the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for Sep 26 2016
FullyInformed Members can log in through this link to read the latest Canadian Stock Market Outlook for tomorrow for the TSX Composite Index or they can sign in to the full members site here. Non-members can join here or review the benefits of a membership.
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