MID-DAY: TSX weighted by gold, but could be boosted by big banks
The TSX is feeling pressure from a few sectors with gold weighing it down heavily with a 1.1 per cent loss. The precious metal is down 15.70 to 1,340 an ounce.
The Loonie isn’t helping either as the Canadian currency is down to 79.26 cents US.
But, Bay Street is expected to be bolstered by the financial sector as CIBC and RBC quarterly results will be released on Thursday and Friday. Analysts expect the big banks to be at or within five per cent of their all time highs.
The Dow is down 183 points to 25,036 weighted by a dismal earnings report from Walmart. The retailer came in lower than expected for its annual earnings as it struggled to compete with Amazon in online sales.
Oil is seeing gains as supply and demand in the energy market balances out. Crude is up 0.10 to 61.65 a barrel.