Morning Market Breakdown, March 12: Markets Make Gradual Gains

- March 12th, 2018

Hot on the heels of a successful Friday, most major markets continued to prosper as they started the new week in the green.

Friday (March 9) was a prosperous day for the S&P/TSX Composite Index (INDEXTSI:OSPTX), which gained 39.11 points to close at 15,577.81.

The index continued to grow on Monday (March 12) morning to hit 15,607.06 by 10:00 a.m. EST.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) just barely missed the mark on Friday when it dropped 0.57 points to close at 828.9. It continued to flounder on Monday morning as it reached 826.7 points.

The Dow Jones Industrial Average (INDEXDJX:.DJI) got a big boost on Friday as it picked up 440.53 points to close at 25,335.74. Monday morning saw a boost when it rose to 25,416.23 points.

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Friday was steady for the S&P 500 (INDEXSP:.INX), which gradually grew to see gains of 47.6 points, closing at 2,786.57. The S&P enjoyed a small win on Monday morning when it rose to 2,793.51 points.

Note: All numbers shown above were accurate as of 10:00 a.m. EST.

Daily metals

Gold got a small boost on Friday to close at US$1,322.83 an ounce. However, it faced the Monday blues when it fell to US$1,317.55 by 10:00 a.m. EST. Silver grew to US$16.59 an ounce by close on Friday, but also took a small hit on Monday when it fell to US$16.46 by 10:00 a.m. EST.

Copper closed at US$3.13 a pound on Friday, but fell slightly to US$3.12 by 10:00 a.m. EST on Thursday.

Major miner news

  • Detour Gold (TSX:DGC): The company announced its Q4 and year-end financial results for 2017. Highlights include an annual gold production total of 571,463 ounces and $200 million in revenue for Q4 alone.
  • Newcrest Mining (ASX:NCM): Newcrest Mining met with adversity on Friday when a tailings dam breach took place at its Cadia gold mine in New South Wales. The company has since temporarily ceased all mining and processing operations at the mine.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

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