{"id":104594,"date":"2017-05-30T01:33:43","date_gmt":"2017-05-30T05:33:43","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=104594"},"modified":"2017-05-30T01:33:43","modified_gmt":"2017-05-30T05:33:43","slug":"toronto-stock-index-makes-small-gain-led-by-bank-and-industrial-sectors","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/05\/30\/toronto-stock-index-makes-small-gain-led-by-bank-and-industrial-sectors\/","title":{"rendered":"Toronto stock index makes small gain, led by bank and industrial sectors"},"content":{"rendered":"

\"Canada's<\/a>
Canada’s main stock index barely advanced Monday amid a quiet trading session while U.S. markets took the day off for Memorial Day. (Photo by Halava (Own work) [CC BY-SA 3.0<\/a>)<\/figcaption><\/figure>TORONTO \u2014 Canada’s main stock index barely advanced Monday amid a quiet trading session while U.S. markets took the day off for Memorial Day.<\/p>\n

In Toronto, the S&P\/TSX composite index inched up 4.98 points to 15,421.91 as bank and industrial stocks made gains.<\/p>\n

Craig Fehr, a Canadian markets strategist at Edward Jones in St. Louis, says the financials sector is still benefiting from the strong earnings reported last week by most of Canada’s six biggest banks.<\/p>\n

TD Bank (TSX:TD), Royal Bank (TSX:RY) and CIBC (TSX:CM) all reported positive results while the Bank of Montreal (TSX:BMO) disappointed slightly.<\/p>\n

\u201cThe earnings we got from the banks last week gave a little bit of comfort to the market,\u201d said Fehr, noting recent concerns about Canada’s housing market.<\/p>\n

\u201cThe banks still have the ability to earn through that environment,\u201d he said. \u201cThat provides a little bit of support to the domestic market.\u201d<\/p>\n

Scotiabank (TSX:BNS) is slated to report Tuesday and National Bank (TSX:NA) is scheduled to release earnings on Wednesday.<\/p>\n

The Canadian dollar climbed 0.05 of a U.S. cent to an average price of 74.37 cents US.<\/p>\n

With Wall Street closed for Memorial Day, traders will return this week to a full slate of U.S. economic reports including the ISM index for U.S. manufacturing and U.S. private and official payroll numbers.<\/p>\n

The reports will be carefully watched to see if employment and hiring is strong enough to continue to bolster the U.S. Federal Reserve’s plan to gradually raise interest rates again.<\/p>\n

In electronic trading, the July crude contract was up 19 cents at US$49.99 a barrel and the July natural gas contract was down 10 cents at US$3.21 per mmBTU.<\/p>\n

The June gold contract pulled back $1.60 to US$1,266.50 an ounce and the July copper contract was unchanged at US$2.57 a pound.<\/p>\n","protected":false},"excerpt":{"rendered":"

TORONTO \u2014 Canada’s main stock index barely advanced Monday amid a quiet trading session while U.S. markets took the day …<\/p>\n","protected":false},"author":33,"featured_media":86188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,43],"tags":[10891],"class_list":["post-104594","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-stock-markets","tag-toronto-stock-exchange","mauthors-linda-nguyen","mauthors-the-canadian-press"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/104594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=104594"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/104594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/86188"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=104594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=104594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=104594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}