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Stockhouse @ the Bell: Recession fears keep North American markets mainly flat

Stockhouse Editorial
0 Comments| 10 days ago

Markets in Canada and the US managed to pull slightly ahead on Thursday, clawing some gains after spending much of the day trading in the red. Traders grew even more concerned about an economic slowdown, given expectations that the US would continue to outperform other major economies and put pressure on the Federal Reserve to slow its interest rate cutting cycle were dampened after weak manufacturing and service sector surveys. The Dax was on pause as markets in Germany were closed for Unity Day.

The S&P/TSX Composite Index was up 58.06 points to 16,369.03, and the TSX Venture Exchange was up 2.94 points to 557.78.

The Canadian dollar traded for 75.04 cents US compared with an average of 75.22 cents US on Wednesday.

Crude oil prices were down $0.41 to $52.23.

The price of gold was up $5.06 to $1,506.06.

In US markets; the Dow rose 122.76 points to 26,291.38 the S&P 500 was up 23.02 points to 2,910.63 and the NASDAQ climbed 87.02 points to 7,872.27.

In world markets; the Nikkei fell 428.11 points further to 21,341.74, the Hang Seng grew 67.80 points to 26,110.31, the FTSE shrunk another 44.62 points to 7,077.64, and the DAX remained at 11,925.25.


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