P.M. market numbers: July 24, 2009

By Staff | July 24, 2009 | Last updated on July 24, 2009
2 min read
| North American markets | International markets | Bonds | Currency | Commodities |

The Toronto stock market closed slightly higher Friday as oil prices resumed their climb amid investor optimism that the recession is over, at least in Canada.

The S&P/TSX composite index edged up 12.22 points to finish the week at 10,687.90. The index was u 3% on the week, its second positive week in a row.

Investors are in "wait-and-see mode" following a string of better-than-expected U.S. earnings reports and a prediction from the Bank of Canada that the economy will grow this quarter for the first time in nine months, said Kate Warne, Canadian market strategist at Edward Jones in St. Louis.

The index is only 26 points away from passing the 10,714 mark, its highest level for 2009.

However, the market has now factored in the fact that the economy is improving and there will be more volatility ahead, said John Johnston, chief strategist for the Harbour Group at RBC Dominion Securities.

"When government officials start talking about the end of the recession, it’s an indication that it’s very well discounted amongst investors," Johnston said. "We’ve had a nice long streak of gains in the marketplace, but the market never goes in one direction for that long."

The Nasdaq composite index fell 7.64 points to 1,965.96, weighed by shares in Microsoft and Amazon, which fell $7.38 or 7% to US$86.49.

The Dow Jones industrial average edged up 23.95 points to 9,093.24, while the S&P 500 index added 2.97 points to 979.26. The loonie continued its upward flight Friday, adding 0.30 cent to 92.34 cents U.S, while the September crude contract on the New York Mercantile Exchange gained 89 cents to US$68.05 a barrel.

The TSX Venture Exchange moved up 5.63 points to 1,143.42.

In Toronto, the financial sector added 1.8% while the base metals sector gained 0.7%.

The gold sector was 0.7% lower as the August bullion contract on the Nymex lost $1.70 to US$953.10.

(THE CANADIAN PRESS)

North American markets Back to Top
Close Change YTD
Dow Jones 9,093.24 +23.95 or +0.26%% +3.61%
S&P 500 979.26 +2.97 or +0.30% +8.42%
NASDAQ 1,965.96 -7.64 or -0.39% +24.66%
TSX Composite 10,687.90 +12.22 or +0.11% +18.92%

International markets Back to Top
Close Change YTD
Nikkei 9,944.55 +151.61 or +1.55% +12.25%
Hang Seng 19,982.79 +165.09 or +0.83% +38.89%
SENSEX 15,378.96 +147.92 or 0.97% +59.41%
FTSE 100 4,576.61 +16.81 or +0.37% +3.21%
CAC 40 3,366.45 -7.27 or -0.22% +4.61%
DAX 5,229.36 -17.92 or -0.34% +8.71%

Bonds Back to Top
Bonds $Current $Previous %Yield
Cdn. 10-year bond

101.68

101.83

3.55

Cdn. 30-year bond

115.65

115.79

4.06

U.S. 10-year bond 95.63 95.43 3.66
U.S. 30-year bond 95.26 94.81 4.54

Currency Back to Top
BoC Close Today Previous
Canadian $ 0.9232 0.9204
US $ 1.0832 1.0865

Euro Spot Rate Today Previous
Canadian $ 0.6494 0.6483
Euro 1.5399 1.5424

Commodities Back to Top
Gold AM PM
London Gold Fix ($US)

$949.75

$951.50

Oil Close Change
WTI Crude Future (US) $70.28 +$1.03 or +1.49%

(07/24/09)

Advisor.ca staff

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.