With Remembrance Day being observed today, government offices, banks and Treasury markets were closed. This resulted in a reasonably quiet day of trading and for stocks to move higher. The outlook had been sideways with a bias to continue the move higher. Surprisingly, investors were buying beaten up gold stocks. The gold sector led stocks higher with a 4 percent rise in the sector.
Meanwhile RONA released their earnings which showed no improvement in revenue numbers. $1.167 billion versus $1.169 billion for the same period last year. This remains a stock I do not trade in preferring Home Depot and Lowes stocks in the US for home improvement.
The Canadian dollar rose by about 0.35 of a cent to $88.27 US.
The rest of this TSX market direction outlook article is for Canada Members.
TSX Market Direction Outlook for Nov 12 2014
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