It was a robust day on Bay Street as Canada’s main stock market hit a three-week high.
There were gains almost across the board with the commodities, financial and energy sectors leading the TSX to close up 76 points at 15,714.
Wall Street continued its recovery from the recent sell-off that was sparked by interest rate increases. The Dow Jones closed the day at 25,709 up 399 points.
We could see a good amount of movement on the markets tomorrow once the federal Liberal government tables its third budget.
Standard & Poor’s says it’s expecting to see more mortgage fraud in Canada. The credit rating agency says it’s seeing more and more reports of phony information, such as the applicant’s income, being given as debt and house prices continue to soar.
A J.D. Power survey released today shows that Canadians aren’t getting something they want from the country’s big five banks. 87 per cent of respondents say they want financial advice from their bank, but only 33 per cent say they get it.
And in afterhours trading at presstime oil is up 45 cents to $64.00 U.S. per barrel, gold is up $4.80 to $1335 U.S. an ounce, and the loonie is down a quarter of a cent to 78.88 cents U.S.