The mar­kets to­day

The Prince George Citizen - - Money -

North Amer­i­can mar­kets fell to start the trad­ing week Tues­day fol­low­ing the im­po­si­tion of new tar­iffs by the U.S. and China and weak man­u­fac­tur­ing data. The U.S. im­posed tar­iffs on more than US$110 bil­lion worth of Chi­nese im­ports on Sun­day, while China put du­ties on U.S. crude oil.

The in­ten­si­fied trade war be­tween the world’s two largest economies is look­ing more and more like a pro­longed sit­u­a­tion with U.S. Pres­i­dent Don­ald Trump even sug­gest­ing talks could drag into his sec­ond term.

In ad­di­tion, U.S. fac­tory ac­tiv­ity shrank in Au­gust for the first time since Au­gust 2016 while Cana­dian man­u­fac­tur­ing ac­tiv­ity slowed in Au­gust as new work re­ceived by firms slumped to the low­est level in nearly four years, pres­sured by trade ten­sions.

The S&P/TSX com­pos­ite in­dex closed down 42.84 points at 16,399.23 as the heavy­weight en­ergy, con­sumer, fi­nan­cial and in­dus­trial sec­tors weighed on the mar­ket. The ris­ing price of gold helped Canada’s main stock in­dex to out­per­form U.S. mar­kets.

The De­cem­ber gold con­tract was up US$26.50 at US$1,555.90 an ounce and the De­cem­ber cop­per con­tract was down 2.35 cents at US$2.53 a pound.

In New York, the Dow Jones in­dus­trial av­er­age was down 285.26 points, or 1.1 per cent, at 26,118.02. The S&P 500 in­dex was down 20.19 points at 2,906.27 while the Nas­daq com­pos­ite was down 88.72 points at 7,874.16.

On the TSX, con­sumer dis­cre­tionary fell 1.5 per cent with Mart­in­rea In­ter­na­tional Inc. down 2.8 per cent and Li­na­mar Corp. off 2.7 per cent.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.