TSX takes sharp drop as oil continues to weaken

TSX takes sharp drop as oil continues to weaken

TSX takes sharp drop as oil continues to weaken Weaker oil prices continued to weigh on the Toronto Stock Exchange Friday and even some stronger showing from the gold miners failed to stop the drop.

Wall Street also suffered from the oil decline while solid but unremarkable jobs data left the question mark over interest rates; although many analysts still believe the result was enough to prompt action from the Fed in September.

Asian markets were higher on expectation that Beijing may announce further stimulus measures this weekend.

European indexes closed lower as investors decided that US interest rates will be on the rise sooner rather than later.
 
The S&P/TSX Composite Index closed down 103.2 (0.72 per cent)
The NYSE closed lower (Dow down 46.37/ 0.27 per cent)
Oil is trending lower (Brent $48.56, WTI $43.81 at 4.25pm)
Gold is trending higher (1092.30 at 4.25pm)
The loonie is valued at U$0.7613 (at 4.25pm)