Canadian Manufacturing

TSX negative amid Fed stimulus doubts, disappointing durable goods data

S&P/TSX composite index slipped 12.81 points to 12,049.7, Canadian dollar up .08 of a cent



TORONTO—The Toronto stock market is lower as a weak U.S. manufacturing report added to the debate over whether the U.S. economic recovery has weakened to a point where the Federal Reserve will launch another round of stimulus.

The S&P/TSX composite index slipped 12.81 points to 12,049.7.

The Canadian dollar was up 0.08 of a cent to 100.72 cents US.

U.S. markets also fell back with the Dow Jones industrial average down 11.53 points to 13,045.93 as orders for durable goods rose a seasonally adjusted 4.2 per cent in July.

But excluding aircraft and other transportation goods, orders dropped 0.4 per cent.

Economists had expected a 2.5 per cent rise.

The Nasdaq composite index declined 7.48 points to 3,045.92, while the S&P 500 index was down 2.68 points to 1,399.4.

Oil gained 32 cents to US$96.59 a barrel.

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