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ON TSX: The S&P/TSX Composite Index continued in the red territory on Wednesday, ending 48.68 points or 0.29% lower at 16,577.38. Healthcare and energy sector stocks dragged index lower, with S&P/TSX Capped Healthcare Index ending 0.90% lower at 51.24 and S&P/TSX Energy Index declining by 0.33 points or 0.39% at 83.53.
Five-day S&P/TSX Composite Chart (as on August 19th, 2020). Source: EODHD/Others (Thomson Reuters)
S&P/TSX Composite Index traded above its long-term and short-term crucial support levels of 200-day, 100-day, 50-day, 20-day and 10-day Simple Moving Averages (SMAs); however, traded below its five-day SMA support level. The leading momentum indicator- 14-day Relative Strength Index (RSI) hovering in neutral territory was, however, mostly oscillating near overbought zone.
The leading index of the Toronto Venture Index, S&P/TSX Venture Composite Index, settled 11.05 points or 1.47% lower at 739.95.
52W H/L: West Fraser Timber Co, Norbord Inc, Canfor Corporation and Trillium Therapeutics Inc, are among the stocks that registered a new 52-week high on the Toronto Stock Exchange. On the other side, Wall Financial Corporation, General Moly Inc, Just Energy Group Inc and Nevada Copper Corp are the among the stocks that registered a new 52-week low on the TSX.
ON Wall Street: Equity markets on the Wall Street fell on Wednesday following US Federal Reserve’s latest meeting minutes that expressed concern over the country’s economic outlook. After recording record high on Tuesday, the S&P 500 Index doffed all the gains it accumulated and traded 0.44% lower at 3,374.85. The Dow Jones slumped for the third straight day and ended 0.31% lower at 27,692.88. Nasdaq, the technology benchmark index declined 0.57% lower at 11,146.46.
TSX Cues
Stocks Cues
Top Movers: Spark Power Group Inc. warrants (up 0.07 cents or 54.17% to CAD 0.19), Prairie Provident Resources Inc. (up 0.1 cents or 33.33 % to CAD 0.02), and Resolute Forest Products Inc. (up 1.13 cents or 23.20% to CAD 6.0).
Bottom Movers: General Moly Inc. (down 43.06% to CAD 0.205), Nickel Creek Platinum Corp. (down 23.08% to CAD 0.10) and D-Box Technologies Inc. (down 17.07% to CAD 0.17).
Volume Leader: D-Box Technologies Inc. Class A, Suncor Energy Inc., B2Gold Corp.
Commodity Cues
Gold*: Gold futures gave up 2.13% against the previous close to US$ 1970.30/oz.
Crude Oil*: WTI crude futures up 0.09% to US$ 42.93/bbl and Brent Crude futures down 0.20% to US$ 45.37/bbl.
Forex*: Dollar Index traded 0.78% lower at 92.98 and CAD/USD (down 0.36% to 0.756)
*As on August 19th, 2020 (after the markets close)
