Daily Wrap-up: Oil, gold drag TSX lower

Daily Wrap-up: Oil, gold drag TSX lower

Daily Wrap-up: Oil, gold drag TSX lower Oil, gold drag TSX lower
Commodities were under pressure Thursday with oil down almost 4 per cent and metals also declining. The overall resources sector dragged the main index of the TSX lower.

World markets were generally lower with commodities, the Fed and Brexit in focus.

Wall Street was the exception, with the three main indexes closing higher.
The S&P/TSX Composite Index closed down 41.04 (0.29 per cent)
The Dow Jones closed up 92.93 (0.53 per cent)
Oil is trending lower (Brent $47.15, WTI $46.13 at 4.55pm)
Gold is trending lower (1283.50 at 4.55pm)
The loonie is valued at U$0.7715
Trudeau hints at measures to tackle hot housing markets
The prime minister has hinted that there may be new measures on the way to curb the growing price of housing in the hottest markets.

Justin Trudeau said Thursday that the cost of housing in Vancouver and Toronto, which have made home unaffordable for many, is a “very significant crisis.”

While no details of any specific measures were given, Mr Trudeau acknowledged that the government needed to take action but without damaging weaker markets elsewhere in the country.
Foreign investment in Canadian securities remains strong
Foreign investment in Canadian securities remained relatively strong for a fourth consecutive month in April, Statistics Canada reported Thursday. The $15.5 billion total was led by investment in debt securities.

Canadian investors added $4.7 billion of foreign securities to their holdings in April, the third consecutive month of investment led by acquisitions of foreign debt instruments.
OSC to offer up to $5 million to whistle-blowers
The Ontario Securities Commission will open its new ‘whistle-blowers’ office on July 14 and will offer up to $5 million to those giving information about crimes within the securities markets if it leads to a successful prosecution. The new program will be led by a former deputy enforcement head, Kelly Gorman.