he outlook for the Canadian Stock Market for Friday was for the TSX Composite Index to face some selling pressure. A negative day was anticipated for Canadian stocks. By the close of the day the TSX moved slightly lower.
TSX Composite Index Falls 28.69 Points
The TSX composite Index spent much of the day on Friday trading in negative territory and by the close of the day, it ended at the low. It closed down 14,725.86.
Brent Oil prices fell on Friday, which was expected following a rally pinned to an OPEC deal to cap oil production levels, that had still to be detailed out. West Texas Intermediate prices rose 18 cents. For the quarter, oil prices were down 0.2% but had risen 8.5% from their quarter low.
Despite the slight drop on Friday, the TSX Composite Index ended the quarter with a gain of 4.5% and many stocks on average historically overvalued. Unless earnings improve for listed Canadian corporations the TSX is left sitting precariously high into the end of the year.
Here is the Canadian Stock Market outlook for Monday Oct 3 2016 and an update to the TSX Market Direction Portfolio along with 3 trade ideas for Monday……………………..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for Oct 3 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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