By MarketsFarm
WINNIPEG, Nov. 15 (MarketsFarm) – The Canadian dollar finished stronger on Friday, after dabbling around 75.4 U.S. cents earlier in the week.
The dollar finished the day at US$0.7558 or US$1=C$1.3231, compared to Thursday when it closed at US$0.7543 or US$1=C$1.3258.
The TSX, S&P 500, NASDAQ and Dow finished at record highs following news that the Trump administration was close to signing a trade deal with China. Strong domestic economic data was also supportive of financial markets. “In absence of any major, negative news on trade, the market is poised to begin the Santa Claus rally early and should leave markets even higher by year end,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, to Yahoo Finance.
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The TSX Composite Index closed higher by 56.29 points at 17,028.47. The S&P 500 gained 23.83 to close at 3,120.46. The Dow Jones was up by 222.93 to finish at 28,004.89, a “psychologically important” amount. The NASDAQ was up 61.81 to finish at 8,540.83.
Benchmark oil prices were stronger in response to the positive economic turn. Brent crude oil was up by US$1.07 to close at US$63.35 per barrel. West Texas Intermediate (WTI) crude oil was up by US$1.04 to close at US$57.81 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries unch at $ 3.60
Linamar Corp. dn $ 0.33 at $ 45.09
Maple Leaf Foods dn $ 0.01 at $ 23.13
Nutrien Ltd. unch at $ 65.33
Ritchie Bros Auctioneers Inc. dn $ 0.29 at $ 55.90
Rocky Mountain Dealerships Inc. dn $ 0.01 at $ 6.49
(All figures are in Canadian dollars.)
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