CLOSING BELL: Gold gains, energy loses, markets close flat
Neither Bay Street nor Wall Street could keep up yesterday’s momentum as markets ended flat for the day.
Gains in gold and the marijuana sector did just enough to offset energy losses as the TSX closed at 15,545, an increase of just three points.
In New York the Dow Jones gave up early gains that came after South Korea said North Korea was willing to negotiate with the U.S. about denuclearization. It closed up only nine points at 24,884.
Tensions over a potential trade war that sprung up last week over U.S. President Donald Trump’s plan to put big tariffs on imported steel and aluminum have eased though as experts say it’s clear it’s just a tactic to get Canada and Mexico to ink a new NAFTA deal.
Blackberry is suing Facebook. The issue is patent infringement when it comes to WhatsApp and Instagram. The Canadian company claims Facebook copied a variety of the features it innovated with BlackBerry Messenger.
At presstime oil is down 14 cents to $62.43 U.S. per barrel, the loonie turned around from an eight month low, up half a cent to 77.63 cents U.S., while gold is up $15.30 to $1335.20 an ounce.