This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with your daily market wrap for August 5, 2008.
Investors needed to hold onto their hats today, as commodities fell out of favour.
Oil closed below 120 for the first time since May, and Toronto sold off in response...although many sectors were up.
North American markets went different directions again today...this time, the Dow finished up 332 points. The NASDAQ up 64 points, and the S&P finished up 36 points...The TSX shed 254 points, driven by energy and materials, while financials surged ahead over 2 percent. Oil ended at 118.61 dollars per barrel, and the Canadian dollar slid to 95.91 cents US. Gold closed at $879 per ounce
This is for information purposes only, Best efforts have been made to furnish accurate data...Performance data does not represent future performance. ScotiaMcLeod s a division of Scotia Capital, member CIPF.
Tune in Saturdays at 8:30 AM, for Beyond Funds Market Weekly, for further information on the markets, visit my blog on AM 980's website, or at www.beyondfunds.ca
Tuesday, August 5, 2008
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