Energy and bank stocks carried the TSX today, while shares in marijuana producers came down from highs earlier in the week.
Energy moved up more than three quarters of a percent while financials and industrials also traded higher, offsetting losses in the health care, tech, and materials sectors as the TSX edged nine points higher.
Leading the energy surge was Chinook Energy’s 13.5 percent rise and a one percent increase in Suncor shares.
On the other side of the ledger, there was a sharp sell-off of cannabis stocks as Aurora dropped 3.3 percent, Aphria lost 1.3 percent, and Cronos tumbled 9.9 percent.
In New York, a fast food giant led the Dow higher. McDonald’s stock jumped 2.7 percent, fueled by the company lifting its quarterly dividend.
The Dow capped a positive week by moving up by 86 points.
The tech-heavy Nasdaq slipped 41 points into the red, weighted mostly by a 2.8 percent tumble in Micron Technology’s stock after the U.S. chipmaker predicted lower than expected Q1 earnings.
Gold lost $7.90 to $1,198 while the loonie slipped 8/100ths of a cent to $0.7741 US against a strengthening greenback.
Oil rose 52 cents to $70.84 US a barrel, despite reports of OPEC looking at raising output to 500,000 barrels a day to offset an expected supply shortage, due to upcoming U.S. sanctions against Iran.
Meanwhile, StatsCan has reported that Canada’s Inflation rate eased to 2.8 percent in August compared to three percent in July, as rising gas prices advanced at a more moderate pace.
