Canada's Stock Market Dips as U.S. Markets Mixed

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Canada's Stock Market Dips as U.S. Markets Mixed
STOCK MARKETCANADAUNITED STATES

Canada's main stock index fell nearly one percent Monday, pulled down by losses in energy, technology, and utilities sectors. Meanwhile, U.S. markets showed mixed performance with the Dow Jones industrial average rising, while the Nasdaq composite declined.

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TORONTO — Canada's main stock index fell almost one per cent Monday, weighed down by losses in energy, technology and utilities, while U.S. markets were mixed.In New York, the Dow Jones industrial average was up 358.67 points at 42,297.12. The S&P 500 index was up 9.18 points at 5,836.22, while the Nasdaq composite was down 73.53 points at 19,088.10.

“Markets are just absorbing a few pieces of news,” said Anish Chopra, managing director with Portfolio Management Corp.Friday saw a stronger than expected U.S. jobs report, signalling the continued strength of the economy despite higher interest rates. “Those are big pieces of information that have an impact on long-term interest rates short-term interest rates,” he said.In Canada, investors continue to grapple with the uncertainty of Donald Trump’s upcoming inauguration and the tariffs he’s threatened as well as a leadership vacuum after the resignation announcement of Prime Minister Justin Trudeau, said Chopra.The Canadian dollar traded for 69.39 cents US compared with 69.34 cents US on Friday.

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