BNN Bloomberg's closing bell update: June 4, 2020
4:30 p.m. ET - North American markets lose ground on Thursday
North American equity markets slid into the close of Thursday's trading session, with the S&P/TSX Composite Index down 0.3 per cent, the S&P 500 falling 0.34 per cent, the Nasdaq Composite Index down 0.69 per cent and the Dow Jones Industrial Average essentially flat, up 0.05 per cent.
In Toronto, six of the eleven TSX subgroups finished lower, with information technology, consumer staples and consumer discretionary stocks leading the way lower.
Oil prices were flat, with U.S benchmark West Texas Inermediate trading at US37.30 per barrel.
1:15 p.m. ET: North American markets continue slide into midday
North American equity markets continued to slide in the midday trade, with the S&P/TSX Composite Index down two-tenths of a per cent, the S&P 500 half a per cent lower, the Dow Jones Industrial Average losing a quarter of a per cent and the Nasdaq Composite Index 0.6 per cent lower.
In Toronto, seven of the 11 TSX subgroups traded in negative territory, with consumer staples, consumer discretionary and information technology stocks posting the largest percentage declines. Materials, health care and real estate stocks pushed higher.
Oil fell modestly, with U.S. benchmark West Texas Intermediate down half a per cent to US$37.10 per barrel. Alberta’s Western Canadian Select fell 2.6 per cent to US$27.48 per barrel.
The Canadian dollar was essentially unchanged against its American counterpart to trade at 74.03 cents U.S.
9:35 a.m.: North American equity markets slide into early trading
North American equity markets were on track for their first down day of the week in early Thursday trading, with the S&P/TSX Composite Index flat-lining, the S&P 500 down 0.4 per cent and the Dow Jones Industrial Average and Nasdaq Composite Index both a quarter of a per cent lower.
The declines follow a similar move in Europe, where most major indices fell.
Gold once again posted gains as investors pulled money from risk assets like stocks, sending the precious metal almost a full per cent higher to US$1,720 per ounce.
Oil prices were once again lower, as concerns mount over whether the OPEC+ group can even make it to the negotiating table to discuss an extension of its record-shattering output cuts. U.S. benchmark West Texas Intermediate fell 1.3 per cent to US$36.80 per barrel.
The Canadian dollar was lower against almost all of its major market peers, and slipped about 0.15 cents against the U.S. dollar to 73.96 cents U.S.