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The leading benchmark index of the Toronto Stock Exchange, S&P/TSX Composite Index, traded ~90 points or 0.57% lower against the previous trading session and ended at 15,580.64 on Friday. From the weekly return standpoint, the index slumped approximately 4.4% against a week ago, the highest negative weekly return since June 2020. The index is down approximately 9% year-to-date.
5-day Price Chart (as on October 30th, 2020); Source: Refinitive (Thomson Reuters)
The index entered the bearish zone again, trading below its crucial long-term and short-term support levels of 200-day and 50-day simple moving averages (SMAs) at the closing bell. The index ended below its immediate support levels of 5-day, 10-day, 20-day, and 30-day SMAs, another negative technical indicator.
The Moving Average Convergence Divergence (MACD) of the index is falling and oscillating below its nine-day SMA signal line, and the difference between 12-day and 26-day EMAs is negative, another unfavorable technical indicator.
The 14-day and 9-day RSI is hovering close to the oversold territory.
At the closing, S&P/TSX Composite Index was featuring a dividend yield of 3.75% and traded at a Price-to-Earnings (PE) multiple of 18.20x.
Sector Summary*
Source: EODHD/Others (Thomson Reuters)
Top Movers: MEG Energy Corp (up 7.05%), Imperial Oil Ltd (up 6.36%) and OceanaGold Corp (up 4.82%).
Bottom Movers: SNC-Lavalin Group Inc (down 9.82%), Canadian Utilities Ltd (down 6.32%) and Canada Goose Holdings Inc (down 6.17%).
Volume Leaders: Enbridge Inc., Bombardier Inc., and Suncor Energy Inc.
On Wall Street: Broader indices of the NYSE traded in red with the Dow Jones plummeting 0.59% to 26, 501.60, the S&P 500 index losing 1.21% at 3,269.96. Technology heavy Nasdaq Composite settled ~274 points or 2.45% lower at 10,911.59, respectively.
Commodity & Forex News*
Gold December Futures traded 0.64% higher at US$1,879.90/oz.
The international crude oil benchmark Brent Oil traded 0.50% lower at US$ 37.46/bbl and WTI Crude Oil traded 1.05% lower at US$ 35.79/bbl.
USD/CAD traded 0.05% lower at 1.3317. Dollar Index traded 0.61% higher at 93.77.
*Details on market close (October 30, 2020)
