BLACK FRIDAY IS HERE
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TSX high on weed and gold…
The TSX inched up to 17,1114 to set another new record high, driven by gold and cannabis stocks. Weed may have bottomed after enduring a drubbing this year. In recent weeks, it has been climbing. On Thursday, Aurora leapt 3.57% and just opened a flagship store in the giant West Edmonton Mall.
There was a gold rush Thursday with many stocks spiking up: Continental at 5.12%, Dundee 4.75%, Gold Standard Ventures 3.61%, Argonaut 3.55% and Kirkland Lake 3.45%. And just in time for Santa, Spin Master, Canada’s major toymaker, rose 2.63%.
New York indices paused their record-breaking climb to eat turkey today on Thanksgiving. However, that didn’t stop the flow of business news. Yesterday, Trump signed a bill that supports human rights in Hong Kong. Predictably, Chinese authorities were furious this move, which comes in the middle of talks to sign phase one of the U.S.-China trade deal. While North American investors slept, their Asian counterparts sold off, with Shanghai and Hong Kong indices slipping into the red. Unless there is more drama from Washington, Black Friday should be quiet in markets.