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Stockhouse @ the Bell: TSX closes lower, ends week higher on economic optimism

Canadian Press, The Canadian Press
0 Comments| March 21, 2014

TORONTO _ The Toronto stock market closed lower at the end of a positive week after new data that suggested the U.S. economy didn't take a major weather-related hit this winter helped ease the prospect of higher interest rates.

The S&P/TSX composite index was 26.07 points lower at 14,335.76.

The Canadian dollar was ahead 0.26 of a cent at 89.21 cents US in the wake of a better than expected reading on retail sales for January.

The Dow Jones industrials dropped 28.35 points to 16,302.7, while the Nasdaq fell 42.5 points to 4,276.79 and the S&P 500 index was down 5.58 points at 1,866.43.

But markets finished the week in the positive column after data suggested that U.S. economic growth should bounce back following a harsh winter.

The data also helped persuade investors that the American economy is strengthening to a point where it can withstand higher short-term rates. Markets were surprised this week when the Federal Reserve said it could start raising short-term interest rates as soon as next year.

For news about small stocks that made big moves in Friday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report


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