Daily Wrap-up: TSX drops 1 per cent on Trump slump

Daily Wrap-up: TSX drops 1 per cent on Trump slump

Daily Wrap-up: TSX drops 1 per cent on Trump slump TSX drops 1 per cent on Trump slump
World markets continued their decline Monday as a backlash against Donald Trump’s immigration ban escalated. Meanwhile, US oil production concerns hit crude prices.

The energy sector of the main TSX index declined more than 2.5 per cent and led all ten sectors lower.

On Wall Street, political concern saw the Dow slip below the 20,000 it hit last week and the S&P500 and Nasdaq also closed with losses. European and Asian indexes were all lower.
 
The S&P/TSX Composite Index closed down 170.7 (1.10 per cent)
The Dow Jones closed down 122.6 (0.61 per cent)
Oil is trending lower (Brent $55,25, WTI $52.66 at 4.40pm)
Gold is trending higher (1197.30 at 4.40pm)
The loonie is valued at U$0.7624
 
OSC warns of binary options ads using Kevin O’Leary image
The Ontario Securities Commission says that businessman and Conservative candidate Kevin O’Leary has not backed several schemes that are using his image.

Adverts for binary trading software claim that the products are endorsed by O’Leary but the regulator says this is not the case and that he is not promoting or otherwise associated with any such software.

The products the OSC is warning about include The Millionaire(s) Blueprint, Play It on Point, Eurostreet Money and Boss Capital.

The CSA has also warned that no business is currently authorized to market or sell binary options in Canada.
 
Outlook improves for oil, gas
This year is looking better for Canada’s oil and natural gas industries, the PSAC said Monday.

The petroleum industry body said that it has boosted its outlook of the number of wells drilled in 2017 by 23 per cent, bringing the total expected to 5,150.

The group expects pricing to rise for the oil sector services industry will also improve, following the lower levels of the past 2 years which it said could not be sustained.