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Stockhouse @ the Bell: Crude oil hits 2019 high

Stockhouse Editorial
0 Comments| March 18, 2019

Rising crude oil prices hit four-month highs on Monday, continuing its push of the energy shares higher (+2.3%) as Canada’s main stock index kicked off the trading week on a positive note. The loonie was flat on the eve of the federal budget and the U.S. Federal Reserve’s policy meeting, where the central bank is expected to remain “patient” on interest rate hikes. Financials, sensitive to interest rates were higher (+0.9%), as were health care stocks (+2.3%) on the back of success seen by cannabis trading.
The S&P/TSX Composite Index was up 111.02 points to 16,251.37, the TSX Venture Exchange was up 4.82 points to 632.59.
The Canadian dollar was flat, remaining at 75 cents.
Crude oil prices were up $0.47 to $59.29.
The price of gold was up $1.96 to $1,302.49.
In U.S. markets; the Dow rose 65.23 points to 25,914.10, the S&P 500 added 10.46 points to 2,832.94, and the NASDAQ gained 25.95 points to 7,714.48.
In world markets; the Nikkei jumped 134.48 points to 21,584.50, the Hang Seng rallied 402.18 points to 29,409.01, the FTSE increased 71.61 points to 7,299.19, but the DAX lost 28.56 points to 11,657.06.


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