TSX ends week in green with energy up, commodities regain

The TSX Composite Index grew to a record 21,216.15 points by market close Friday, October 22. Though just by 3.46 points or 0.02 per cent, it was another close in the green for the index nonetheless. The streak now at 13 consecutive days, is reportedly the longest since 1985.

The energy and industrial sectors gained over one per cent each and financials 0.5 per cent but IT fell 1.83 per cent and healthcare was down 2.38 per cent. Commodities also regained Friday.

One-year price chart (October 22). Analysis by Kalkine Group

Volume active

The most traded stock was TC Energy Corporation with 5.39 million shares exchanging hands. It was followed by B2Gold Corp where 5.09 million shares exchanged hands, and the Bank of Montreal with 4.52 million shares exchanging hands.

Movers and laggards

Wall Street update

Federal Reserve Chair Jerome Powell said Friday he thought it was time to taper asset purchases although not raise interest rates noting that he felt inflation should ease next year with the reduction of effects from the pandemic. The main indices plummeted around noon and marginally recovered.

The S&P 500 lost 0.11 per cent or 4.88 points to 4,544.90 points. The Dow was up 0.21 per cent or 73.94 points to 35,677.02 points and the Nasdaq was down 125.50 points or 0.82 per cent to 15,090.20 points.

Commodity update

Gold gained 0.81 per cent and traded at 1,796.30. Brent oil rose 1.09 per cent to US$ 85.53/bbl, while crude oil gained 1.53 per cent to 83.76/bbl.

Currency news

The loonie fell against the US dollar on October 22, while USD/CAD ended in the green at 1.2367, up 0.02 per cent.

The US Dollar Index was worse off against the basket of major currencies Friday and ended at 93.64, down 0.14 per cent.

Money market

Friday saw the US 10-year bond yield fall 3.43 per cent and end at 1.638.

The Canada 10-year bond yield fell 3.12 per cent on October 22 and ended at 1.648.

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