Canadian stocks weaker and Dow pushes higher

The Dow and S&P have powered to new highs, but he commodity heavy TSX has not been graced with similar gains, but is seeing some strength today.

Canadian stocks have seen good gains as when commodity prices react to a weaker US dollar. The Fed has been pumping additional quantitative easing (QE) which has had the side effect of commodity inflation.

TORONTO – The Toronto stock market stayed positive on Friday afternoon helped by energy and telecom stocks, while U.S. markets gave back some of the enthusiastic gains of recent sessions.

The S&P/TSX composite was up 31.36 points at 12,831.27, while the TSX Venture Exchange slid 1.28 points to 1,111.33.

The Canadian dollar was up 0.27 of a cent at 98.09 cents US, backing off a three-week high of 98.22 reached in the morning.
After eight record high sessions and 10 consecutive days of gains, the Dow industrials gave back some of that on mixed economic data, dropping 48.42 points to 14,490.72.
The Nasdaq was down 13.36 points at 3,245.56 and the S&P 500 index slid 4.93 points to 1,558.30.

Source: Reuters