The US dollar has given Canadian investors a helping hand today; the greenback weakened against the Euro and Wall Street has surged with triple-digit gains for the Dow, despite declining oil prices. The Toronto Stock Exchange has tracked the gains and domestically there was a boost to Valeant Pharmaceuticals stocks as its increased offer for Salix was accepted. Globally there is anticipation ahead of the Fed’s meeting this week and the big question on whether the US central bank will continue to be ‘patient’ on interest rates.
The S&P/TSX Composite Index closed up 131.3 (0.89 per cent)
The NYSE closed higher (Dow up 228.1)
Oil is trending lower (Brent $53.38, WTI $43.76 at 4.20pm)
Gold is trending higher
The loonie is valued at U$0.7823 (at 4.20pm)