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Stockhouse @ the Bell: Bond market riles recession fears

Stockhouse Editorial
0 Comments| August 7, 2019

Markets on Bay and Wall Streets pared early losses on Wednesday after nervous investors dumped stocks and shoved money into bonds as the trade war between the US and China intensified. Despite this worry over a global economic recession, worldwide markets supported a broad rally. Benchmark 10-year Treasury yields fell to their lowest levels since October 2016, while gold shot up to a six-year high. Meanwhile, precarious assets like stocks and oil prices took a nosedive. The tumble in energy shares brought Canada’s main stock index lower in early trading but the TSX rallied before market’s close to a triple-digit gain in the green.
The S&P/TSX Composite Index was up 115.73 points to 16,265.22, and the TSX Venture Exchange was up 2.64 points to 597.33.
The Canadian dollar traded at an average of 75.12 cents US, down from an average of 75.45 cents US on Tuesday.
Crude oil prices were down $1.35 to $52.28.
The price of gold was up $25.19 to $1,497.59.
In U.S. markets; the Dow gave up 22.65 points to 26,006.87, the S&P 500 added 2.21 points to 2,883.98 and the NASDAQ increased 29.56 points to 7,862.83.
In world markets; the Nikkei lost 68.52 points to 20,516.56, the Hang Seng added 20.81 points to 25,997.03, the FTSE gained 27.11 points to 7,198.70, and the DAX grew 82.77 points to 11,650.15.


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