BNN Bloomberg's closing bell update: August 7, 2020
North American equity markets capped off the week in mixed territory, as investors weighed the prospects of a massive U.S. stimulus bill, a strong resurgence in U.S. unemployment and concerns over global trade tensions as U.S. President Donald Trump took renewed aim at China.
The S&P/TSX Composite Index slipped 0.21 per cent, the Nasdaq Composite Index fell 0.87 per cent, the S&P 500 rose a modest 0.06 per cent and the Dow Jones Industrial Average finished the day 0.17 per cent higher.
The S&P 500 and Dow’s narrowest of gains extended the rally for both indices to six straight trading sessions, while the Nasdaq’s drop snapped a seven-session winning streak.
In Toronto, five of the 11 TSX sectors finished the day in negative territory, led lower by health care, information technology and materials.
Crude prices were under some pressure, with U.S. benchmark West Texas Intermediate down one per cent to US$41.55 per barrel. Alberta’s Western Canadian Select fell 1.1 per cent to US$29.58 per barrel.
The Canadian dollar lost ground against its American counterpart, falling 0.4 cents to 74.75 U.S. cents.