MID-DAY: Gold boosts Bay Street; Dow dips on mixed corporate earnings
As gold becomes a hot buy for investors, Bay Street is benefiting from the boost. The TSX is up 44 points to 15,528 as gold pushes to 1,327 an ounce.
The price of US crude is gaining as well to 55.18 a barrel, which is also providing some strength to the Canadian index.
The old news of a slight dip in November’s GDP is not concerning investors too much. The Loonie is slipping slightly to 75.98 cents US.
Across the border a different story for Wall Street as the Dow drops 69 points to 24,945 despite a bevy of positive earnings reports. Experts say the dip in the Dow is likely investors catching up with a mix of downbeat earnings that came in yesterday.
Also from shutdown to freeze out, the US economy is back under pressure again. Experts say many public services and industries are shutdown in the US Midwest due to the extreme cold in the area.