Sunday, 1 October 2023


Canadian stock index drops while U.S. markets show mixed results By

Carlyle’s Rubenstein Says Savvy Investors Will Seize Market Drop

© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect

On Monday, the S&P/TSX composite index, Canada’s main stock index, experienced a significant decline due to losses in technology and base metal stocks. The index fell by almost 130 points to close at 20,492.83, following a midday drop of over 150 points.

Meanwhile, U.S. stock markets demonstrated mixed results. While the and the both recorded gains, up 28.78 points at 34,647.02 and 5.81 points at 4,456.13 respectively, the showed a flat performance by the end of the trading day despite being up 28.75 points at 13,737.09 in late-morning trading.

In terms of commodities, the November crude contract was up $1.05 at $91.07 per barrel and the October contract increased by seven cents to $2.71 per mmBTU. The December gold contract also saw an increase of $2.40 to stand at $1,948.60 an ounce. However, the December contract fell three cents to $3.77 a pound.

The Canadian dollar traded for 74.09 cents US compared with 73.93 cents US on Friday.

Despite the gains in U.S markets earlier in the day, they lost steam midway through the trading day to essentially end flat. This contrasted with Canada’s main stock index which suffered a broad-based decline led by technology and base metal stocks.

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