Telecoms weigh on Toronto stock market, U.S. stock markets trade higher

Telecoms weigh on Toronto stock market, U.S. stock markets trade higher
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TORONTO — Canada’s main stock index fell in late-morning trading as shares of the country’s big wireless companies came under pressure after Rogers Communications Inc. cut its revenue guidance for the year due to the popularity of new unlimited wireless data plans.

The S&P/TSX composite index was down 28.82 points at 16,362.70.

In New York, the Dow Jones industrial average was up 83.12 points at 26,871.22. The S&P 500 index was up 5.49 points at 3,001.48, while the Nasdaq composite was up 12.97 points at 8,117.27.

The Canadian dollar traded for 76.40 cents US compared with an average of 76.37 cents US on Tuesday.

The December crude contract was down 86 cents at US$53.62 per barrel and the November natural gas contract was down 0.7 of a cent at US$2.26 per mmBTU.

The December gold contract was up US$9.90 at US$1,497.40 an ounce and the December copper contract was up 1.3 cents at US$2.65 a pound.

This report by The Canadian Press was first published Oct. 23, 2019.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

The Canadian Press

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