Canada's main stock index pushed further into record high territory Tuesday even as U.S. markets were mixed on continued trade tariffs of Chinese goods.
Last Updated Tuesday, January 14, 2020 6:15PM ESTTORONTO -- Canada's main stock index pushed further into record high territory Tuesday even as U.S. markets were mixed on a report of lingering tariffs on Chinese goods.
In New York, the Dow Jones industrial average was up 32.62 points at 28,939.67. However, the S&P 500 index was down 4.98 points at 3,283.15, and the Nasdaq composite was down 22.60 points at 9,251.33. The negative tariff headlines kickstarted algorithm program traders to sell off even though the news was previously known, said Allan Small, senior investment adviser at HollisWealth.
"The techs really took it on the chin and started to sell off on that news which in my opinion is not valid. So it was a tech-led day until the announcement. Techs have sold off and that's brought the whole market down." The February gold contract was down US$6.20 at US$1,544.40 an ounce and the March copper contract was up 0.40 of a cent at US$2.86 a pound.
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