Stock market fears subside as loonie strengthens against greenback

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There were fewer spurs of investor angst in the markets Friday despite the intensifying standoff between the Opinion States and North Korea, while the loonie rebounded after sundry than a week of losses.

On Bay Street, the Toronto Stock Exchange’s S&P/TSX composite formula shed a moderate 40.87 points to 15,033.38.

Trader sentiment was better in New York, where investors welcomed details showing consumer prices edged up 0.1 per cent last month after no gain ground in June, suggesting the U.S. Federal Reserve may be less likely to raise responsive to rates.

The Dow Jones industrial average added 14.31 points to 21,858.32, the S&P 500 directory rose 3.11 points to 2,441.32 and the Nasdaq composite index aided 39.69 points to 6,256.56.

In currency markets, the Canadian dollar was trading at an usually price of 78.83 cents US, up 0.16 of a cent.

Loonie

The price of gold out of dated its pace of considerable gains over the last two trading days.

December gold harnessed on $3.90 to $1,294.00, after surging $27.50 the previous two days.

The high-priced metal is considered a safe haven for nervous investors.

Elsewhere in commodities, the September undeveloped contract was up 23 cents at $48.82 per barrel, September copper garnered a penny at $2.91 a pound and September natural gas was unchanged at $2.98 per mmBTU. 

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