The mar­kets to­day

The Prince George Citizen - - Money -

TORONTO (CP) — While U.S. mar­kets set record highs, Canada’s main stock in­dex ended the week lower as the loonie hit a nine-month high.

The S&P/TSX com­pos­ite in­dex closed down 39.78 points to 16,488.12 af­ter hit­ting an in­tra­day high of 16,525.70. Shopify Inc. drove tech­nolo­gies lower, while util­i­ties, con­sumer sta­ples and fi­nan­cials also fell.

En­ergy was marginally lower as the Au­gust crude con­tract was up one cent at US$60.21 per bar­rel and the Au­gust nat­u­ral gas con­tract was up 3.7 cents at US$2.45 per mmBTU. Con­sumer dis­cre­tionary, in­dus­tri­als, ma­te­ri­als and real es­tate ended the day higher. Shares of sev­eral min­ers climbed, in­clud­ing Ya­mana Gold Inc. and Bar­rick Gold Corp, as the price of gold rose. The Au­gust gold con­tract was up US$5.50 at US$1,412.20 an ounce and the Septem­ber cop­per con­tract was up 0.7 of cent at US$2.69 a pound.

The Canadian dol­lar traded for an av­er­age of 76.70 cents US, the high­est level since Oc­to­ber and com­pared with an av­er­age of 76.51 cents US on Thurs­day. Amer­i­can mar­kets set record highs Fri­day as the prospect of in­ter­est rate cuts so­lid­i­fied with the com­ments from the gover­nor of the Fed­eral Re­serve Bank of Chicago that the cen­tral bank’s fo­cus is to pre-empt de­fla­tion.

In New York, the Dow Jones in­dus­trial av­er­age was up 243.95 points at 27,332.03, a record close and slightly lower than the in­tra­day peak of 27,333.79. The S&P 500 in­dex was up 13.86 points at 3,013.77, a tad lower than the high set ear­lier in the day, while the Nas­daq com­pos­ite was up 48.10 points at 8,244.14.

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