TSX Composite Index – Canadian Stock Market Outlook for June 13 2016

Jun 12, 2016 | TSX Composite Index - Canadian Stock Market Outlook

The Canadian Stock Market outlook for Friday June 10 was for the TSX Composite Index to turn lower and end the day negative. By the end of the day, the TSX had been pressured lower by 1.42% as oil fell back below $50 a barrel and the US dollar rose pressuring many commodities.

Canadian Bank stocks also pulled back on Friday as did the insurers. With so many analysts pushing the insurers as a “better bet” than the banks, I have reservations about them being right. Each time the analysts have switched from Canadian banks to insurers they have been wrong. I think once again, if the financials pullback, the insurers will do worse.

TSX Composite Index Falls 202.48 Points

Friday saw the largest decline in weeks with the index starting the day with a plunge to 14130.90 and then falling for the remainder of the day. At one point late in the afternoon, the TSX Composite Index reached 14003.74 and appeared ready and able to break back below 14000.

The last hour saw the market try to rally but by the close it was down 202.48 points and closed at 14037.54…………..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.

TSX Composite Index – Canadian Stock Market Outlook for June 13 2016

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