TSX negative amid Fed stimulus doubts, disappointing durable goods data
by The Canadian Press
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.
