Except for the Nasdaq, the main New York indices and the TSX closed Tuesday slightly down on light trading. Investors continued to take some profits as investor sentiment remains positive to close out an astonishing 2019. Nasdaq led the way for the year, climbing nearly 35% while the TSX rose nearly 20%. On Tuesday, the TSX rallied right before the close and managed to stay above 17,000.
Investors are confident knowing that China and the U.S. will sign phase one of their trade deal (fingers crossed), as Trump announced that January 15 will be the date. One of the few Canadian headlines Tuesday came from HBC. Its chairman has offered a higher bid of $11/share to take the Canadian institution private. Hudson’s Bay shot up 21%.
If you’re reading this, you’re probably seeing green on your screens. So, raise a glass to 2019 and let’s hope that 2020 brings more prosperity!
🛍 Hudson Bay Co. +21%