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The TSX ends a difficult year for the market with a bright note


The main stock index in Canada closed higher along with US markets on the last day of trading, which has been a difficult year for stocks.

The index composed of S & P / TSX closed 100.86 points, at 14 322.86, as part of a December end concentration. But it was not enough to avoid significant losses during the year.

The index ended 12 percent in 2018 after the declines that began in the summer gained momentum when trade disputes and the slowdown in global growth caused fears of a recession.

Debits accelerated in December, the index dropped to just 13,776.90 on Christmas Eve, before making a modest concentration in the last days of the year.

The fall, especially in the last month of the year, attracted most market observers out of the guard.

"We all felt as if the market was a bit ahead of itself, or perhaps in some cases far ahead of itself," said Allan Small, senior investment adviser at HollisWealth.

He said that the economy has diminished slightly, but it remains healthy and expects more correction of values ​​than an important economic crisis.

"A lot of people are talking about recession, but I do not think the recession is in the short term. What I think is a bearish market without the recession."

However, investors will have to become accustomed to recent volatility as an important trade dispute with China that will come to a deadline for the new year, while Democrats will take over from the US House of Representatives .

"I think it only opens a little more," Small said.

Investors achieved a positive feeling in the trade front after US President Donald Trump said he had a positive discussion with Chinese President Xi Jinping, Small said.

"President Trump was tossed over the weekend that spoke to the Chinese president, everything seems positive, he seemed optimistic in his tweet that they are working toward some type of business."

The news helped send the Dow Jones industrial average to 265.06 points at 23,327.46. The S & P 500 index ended 21.11 points higher in 2,506.85, while the Nasdaq composite increased 50.76 points at 6,635.28.

Stocks in the United States still ended during the next year for their worst event in a decade. The S & P 500 finished 6.2 percent, the Dow dropped 5.6 percent.

The Canadian dollar reached an average of 73.30 cents in the US, with a 0.02 of a hundred dollars from Friday.

The February crude oil contract closed eight hundred dollars at US $ 45.41 per barrel and the February natural gas contract dropped to 36 cents at US $ 2.94 per megabyte.

February's February deal decreased to $ 1.70 from the US at $ 1,281.30 a dollar, and the March copper contract lowered five cents to $ 2.63 a pound.

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