P.M. market numbers: July 29, 2009

By Staff | July 29, 2009 | Last updated on July 29, 2009
2 min read
| North American markets | International markets | Bonds | Currency | Commodities |

Investors continued to rein in their optimism on Wednesday, and sent the Toronto stock market lower, driven by weaker oil prices and a renewed sense of caution about the economic recovery.

The S&P/TSX composite index moved back 115.21 points to close at 10,455.33, making it the second consecutive session of triple-digit losses for the TSX. The main index fell 187 points on Tuesday.

The pullback suggested investors aren’t convinced that the economy won’t experience more turbulence in the short term. The Canadian dollar closed at 91.68 cents U.S., down 0.65 of a cent.

On the TSX, the energy sector backed off 2.8% as a weekly report from the U.S. Energy Department showed that inventories rose more than expected last week. The light, sweet crude for September delivery fell $3.88 to US$63.35 a barrel on the New York Mercantile Exchange.

The lower price of commodities has been having a negative impact on the results of several Canadian companies.

On Wall Street, the Dow Jones industrials were down 26 points to 9,070.72. The Nasdaq composite dipped 7.75 points to 1,967.76 while the S&P 500 index gave back 4.47 points to 975.15.

Bill Harris of Avenue Investment Management said the downturn over the past two days is largely tied to U.S. housing numbers released Tuesday.

The S&P/Case-Shiller Home Price index indicated that home prices posted their first monthly increase since the summer of 2006, giving the markets some hope that a recovery is developing.

He said that’s having an impact on gold stocks in the short term, and contributing to the downturn in resource stocks. The price of gold for the August delivery closed down $11.90 to $927.20 on the Nymex.

(THE CANADIAN PRESS)

North American markets Back to Top
Close Change YTD
Dow Jones 9,070.72 -26.00 or -0.29% +3.35%
S&P 500 975.15 -4.47 or -0.46% +7.96%
NASDAQ 1,967.76 -7.75 or -0.39% +24.78%
TSX Composite 10,455.33 -115.21 or -1.09% +16.33%

International markets Back to Top
Close Change YTD
Nikkei 10,113.24 +25.98 or +0.26% +14.15%
Hang Seng 20,135.50 -489.04 or -2.37% +39.95%
SENSEX 15,173.46 -158.48 or -1.03% +57.28%
FTSE 100 4,547.53 +18.69 or +0.41% +2.56%
CAC 40 3,365.62 +34.65 or +1.04% +4.59%
DAX 5,270.32 +95.58 or +1.85% +9.57%

Bonds Back to Top
Bonds $Current $Previous %Yield
Cdn. 10-year bond 101.76 101.65 3.54
Cdn. 30-year bond 115.84 115.89 4.05
U.S. 10-year bond 95.59 95.42 3.66
U.S. 30-year bond 95.00 95.00 4.51

Currency Back to Top
BoC Close Today Previous
Canadian $ 0.9016 0.9232
US $ 1.0831 1.0831

Euro Spot Rate Today Previous
Canadian $ 0.6533 0.6515
Euro 1.5307 1.5349

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

$935.50

$931.00

Oil Close Change
WTI Crude Future (US) $62.86 -$4.37 or -6.50%

(07/29/09)

Advisor.ca staff

Staff

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