TSX Closes Flat as Oil Prices Retreat from Highest Levels in More Than a Year
The Toronto Stock Exchange finished flat, as crude oil retreated from its highest level in more than a year and Wall Street slid on disappointing corporate news.
The S&P/TSX composite index fell 16.66 points to 14,549.60, after the market was closed on Monday for the Thanksgiving holiday.
In New York, the Dow Jones industrial average lost 200.38 points, or 1.09 per cent, at 18,128.66, while the broader S&P 500 composite index declined 26.93 points, or 1.24 per cent, to 2,136.73. The Nasdaq composite pulled back 81.88 points to 5,246.79.
The Canadian dollar was up 0.25 of a cent at 75.52 cents U.S., while the November crude contract fell 56 cents at $50.79 U.S. per barrel.
Oil had closed at $51.35 (U.S.) a barrel on Monday — its highest level since July 2015 — after Russian President Vladimir Putin said Russia supports OPEC’s efforts to cut oil production.
In other commodities, November natural gas dropped 4 cents to $3.24 (U.S.), the December gold contract was down $4.50 to $1,255.90 (U.S.) an ounce, and December copper contracts fell a penny to $2.19 (U.S.) a pound.