The outlook for the Canadian Stock Market for Tuesday was for stocks to continue their advance. Instead the US dollar rose and energy prices as well as metals fell back. The drop in the US markets affected Canadian investors who took the US sell-off as a signal to take profits. With lower Chinese growth back in the outlook, small regional Canadian Western Bank (CWB) plunged 6.85% as they announced taking $33 million in provisions for non-performing oil and gas loans. This tumbled the entire banking sector as investors once again worried about the Canadian Banking Sector and the impact lower oil may have.
TSX Composite Index Falls 157.95 Points
The TSX Composite Index fell back triple digits on Tuesday closing down 1.14% to 13,707.68……..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for May 4 2016
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