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Stocks lower in early trading as geopolitical concerns weigh

Canadian Press, The Canadian Press
3 Comments| July 21, 2014


TORONTO _ The Toronto stock market was lower with markets focused on geopolitical tensions arising from Israel's ground offensive in Gaza and the aftermath of the shooting down of a Malaysian airliner over Ukraine on Friday.

The S&P/TSX composite index was down 16.48 points to 15,250.09. The Canadian dollar lost 0.08 of a cent to 93.06 cents US.

U.S. indexes were also lower as traders assessed the likelihood of Western countries imposing tougher sanctions against Russia over its support of Ukrainian rebels, who are suspected of shooting down the Malaysian Airlines jetliner with a sophisticated surface to air missile.

The Dow Jones industrials gave back 78.91 points to 17,021.27, the Nasdaq shed 13.4 points to 4,418.75 and the S&P 500 index declined 6.81 points to 1,971.41.

Corporate earnings are also a major focus for investors this week. In Canada, Canadian National Railway (TSX: T.CNRStock Forum)posts results after the markets close.

Investors were also looking ahead to U.S. earnings reports amid hopes American economic growth is recovering. Results from Apple Inc.  (Nasdaq: AAPL, Stock Forum), Microsoft Corp. (NASDAQ: MSFT, Stock Forumand Coca-Cola Co. (NYSE: KO, Stock Forumwere due out tomorrow and Caterpillar (NYSE: CATStock Forum)on Thursday.


Tags: TECHNOLOGY INDUSTRIALS CONSUMER DEFENSIVE CONSUMER ELECTRONICS

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Comments

canne
the shooting down of the Malasian passenger plane is ominous, Mr Putin has made a big mistake supplying these weapons to power hungry, uncontrollable, wanna be dictators. The incident has to be a wake up call to the flying public that a passenger plane can easily be the target in a turkey shoot. Given todays sophisticated and increasingly proliferating weapons, the danger to civilian aircraft will only increase. I'm thinking drones will be the next threat.
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July 21, 2014
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illumination1
absolutely ridiculous--geopolitical conflicts are always going. there's always something happening in the middle east--unfortunately, it's part of everyday life. and terrorism just keeps going and going and going. should have no real baring unless it can be established that there are direct ties to economies--in the case of flying over certain routes they need to be adjusted for and avoid conflict areas. there's problems throughout the world all the time but life and business will...
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July 21, 2014
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Art35
Putin's mercenaries have shot down that plane.
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July 21, 2014
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