​TSX plunges on oil futures before some recovery

​TSX plunges on oil futures before some recovery

​TSX plunges on oil futures before some recovery The market opened and started a downward slide almost immediately hitting a trough around mid-morning before recovering some of its losses after lunch. Oil was again the reason for the downbeat tone as an OPEC spokesman again dashed any hopes of the cartel cutting production. Canadian jobs data was also a worry and even south of the border -where job numbers were up - there is concern that wages are not. There have been some highs and lows this week for the Toronto Stock Exchange but the week has ended with losses overall.

The S&P/TSX Composite Index closed down 72.80 (0.50 per cent)

The NYSE closed lower

Oil is trending lower

Gold is trending higher

The loonie is up against the US dollar (84.28 cents at market close)