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TSX recap: Markets fluctuate as energy stocks fall - BNN Bloomberg

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The TSX fluctuated between gains and losses on Thursday as weakness in energy and materials stocks was met with strength in industrials and tech.

The S&P/TSX Composite Index closed up slightly Thursday as gains in industrials and real estate offset losses in energy.While the overall index climbed, energy stocks were down 2.15 per cent as oil prices fell.

Thursday’s trading marks the biggest three-day gain on the S&P 500 since May 27. However, despite some positive signs in U.S. markets, Chad Morganlander, a senior portfolio manager at Washington Crossing Advisors, said there are still hurdles ahead for equity markets. “We would push more into defensive sectors, like consumer staples as well as healthcare. We think that healthcare is appropriately valued at this inflection point, based on the economic backdrop that we're looking at over the next six to 12 months,” Morganlander said in an interview.

 

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