The Canadian Stock Market outlook for Tuesday August 2 2016 was for a lower close. The primary drop in the TSX Composite Index was caused by the decline of oil to close below $40 a barrel (WTI). This marks a drop of about 22 percent from the most recent run-up in oil which appears to have ended early June. The drop below $40, places crude oil prices back into a bear market.
That send the TSX lower in what was a broad decline on Tuesday.
TSX Composite Index Falls 105.73 Points
The decline on Tuesday ended with the TSX Composite Index down 0.73% to close at 14,477.01. This marks another failed rally to the 14500 level. Intraday on Tuesday the TSX fell to 14,428.23 but recovered from those lows. A variety of stocks participated in the decline but aside from energy stocks, the most influential were the financial sector stocks. In particularly Bank Of Nova Scotia Stock and Royal Bank Of Canada Stock………………the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for August 3 2016
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