The outlook for the Toronto Stock Exchange for Monday Nov 17 was for stocks to be mixed but move higher. This is what happened but overall the move higher was unimpressive to say the least and in the end the TSX was ahead by 39.40 points haven given back much of the day’s rally.
While most sectors were ahead, much of the bounce in the miners was just from such a deeply oversold condition. There really is nothing new here to report. The financials headed higher in the early going but then gave most it back into the close.
The Canadian dollar drifted a little bit lower during the day and oil followed it closing down just 18 cents at $75.64. Oil enthusiasts are pointing out a million reasons why oil should be at $90 a barrel, but the reality is the world is awash in oil just now and the US dollar’s rise is directly linked to oil’s decline.
At one point today the TSX was up at 14,950.53 before closing at 14,882.50.
The rest of this TSX market direction outlook article is for Canada Members.
TSX Market Direction Outlook for Nov 18 2014
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