MID-DAY: North American markets off to good start on energy, financials
North American investors seem to be happier today than they have been over the last few days.
On Bay Street the heavyweight energy sector is powering a gain so far, but it’s levelled-off a bit as we reach mid-day. Oil prices are rising on the backs of supply cuts by OPEC and lower U.S. supplies.
The TSX is up 87 points, sitting at 16,153. This comes after two straight days of losses, including a really rough session on Friday.
In New York, financials and tech stocks are pushing things higher. This comes after back-to-back days of losses as investors pumped the brakes over concerns about the economic growth slowing on a global scale. The Dow Jones is up 249 points, sitting at 25,766.
At press time, oil is up $1.10 to $59.92 U.S. per barrel, gold is down $8.10 to $1,314.50 an ounce, and the loonie is up a tenth of a cent to 74.70 cents U.S.