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Stockhouse @ the Bell: “Green” day on the markets, despite cannabis dip

Stockhouse Editorial
0 Comments| October 16, 2018

On the eve of adult-use cannabis legalization in Canada, marijuana producers actually saw a bit of downturn on Tuesday. Aurora Cannabis Inc. was down 7.2%, Canopy Growth Corp. lost 6.9% and Aphria Inc. fell 6.1%. It wasn’t all down news; Canada’s main stock index posted a triple-digit gain. Financial stock led the gainers, rising 1% and RBC grew 1.3%. Stocks rallied on Wall Street, closing 2% higher after positive earnings reports from major players like Goldman Sachs.  The S&P 500 recorded its largest daily percentage gain in seven months.
The S&P/TSX Composite Index was up 170.27 points to 15,579.74, the TSX Venture Exchange was down 11.55 points to 699.81.
The Canadian dollar was up $0.0029 remaining at 77 cents.
Crude oil prices were up $0.14 to $71.92.
The price of gold was down $2.57 to $1,224.17.
In U.S. markets; the Dow rallied up 547.87 points to 25,798.42, the S&P 500 gained 59.13 points to 2,809.92, and the NASDAQ jumped 214.75 points to 7,645.49.
In world markets; the Nikkei rose 218.41 points to 22,549.24, the Hang Seng climbed 17.17 points to 25,462.26, the FTSE added 30.31 points to 7,059.40, and the DAX was up 164.66 points to 11,776.55.


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