By Commodity News Service Canada
Aug. 17 (CNS Canada) – The Canadian dollar posted small gains compared to yesterday’s close, picking up 0.12 of a cent to reach US$0.79.11 at 8:35 CDT (C$1.2640 per US$1). The loonie closed Wednesday at US$0.7875, or C$1.2699 per US$1.
Oil prices were steady to lower early in the day in the wake of a report showing a decline in U.S. crude stockpiles, which was offset by production increases.
WTI crude was down 31 cents U.S. (0.66%) at US$46.47
Walmart Stores bucked the retail industry slowdown that has hit many of its competitors and posted second quarter store sale increases of 1.8 per cent. However, profit was lower as investment in online sales continued. Walmart earned US$2.9 billion in the quarter. Earnings were reported at US$1.08 per share
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The first day of talks to modernize NAFTA were highlighted by U.S. negotiator Robert Lighthizer’s tough talk about making extensive changes to the agreement, especially in regulations surrounding manufactured goods and the automobile sector.
The S&P/TSX was down 13.94 points, or 0.09% to 15,068.27 at 8:30 a.m. CDT. The health care (-2.37%) and industrials (-0.54%) sectors saw the biggest losses, while materials offset some of that with an increase of 1.66%.
