Canadian Financial Close: Trump tweet creates more gloom on stock markets

By Commodity News Service Canada

WINNIPEG, Dec. 24 (CNS Canada) – The Canadian dollar was down at market close Monday along with the major stock markets.
The dollar closed at US$0.7359 or US$1=C$1.3589, which compares with Friday’s close of US$0.7371 or C$1.3566.
Closing early for Christmas, the S&P/TSX Composite Index closed Monday at 13,780.19 down by 155.25 points or 1.11 percent. Also down were the Dow Jones at 2.28 per cent, the S&P 500 fell 2.11 per cent and NASDAQ lost 1.45 per cent.
Fueling the drop was a tweet today by United States President Donald Trump in which he blamed the U.S. Federal Reserve for the decline. Trump claimed the central banks’ increase of interest rates last week misread the markets. Also, there were reports the president considered firing Jerome Powell, the bank’s chief.

Oil was down Monday as West Texas Intermediate crude oil fell by US$1.54 to close at US$44.05 per barrel.
Gold was up Monday by US$14.30 to US$1,272.20 per ounce.
The stock markets will be closed Dec. 25 and trading in the U.S. will resume Dec. 26, while the TSX resumes Dec. 27.

Canada’s agricultural sector faired as follows:

AGT Food and Ingredients———dn $ 0.31 at $ 15.67
Buhler Industries—————-unchanged at $ 3.60
Linamar Corp.——————–dn $ 1.32 at $ 42.38
Maple Leaf Foods—————–dn $ 0.04 at $ 26.48
Nutrien Ltd.———————dn $ 2.00 at $ 59.97
Ritchie Bros Auctioneers Inc.—-dn $ 0.34 at $ 42.38
Rocky Mountain Dealerships Inc.–dn $ 0.14 at $ 8.29

(All figures are in Canadian dollars.)

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