Money S&P/TSX composite in record territory for another day, U.S. stocks mixed
Canada's top 100 CEOs have already earned more than average Canadian will all year
By 10:09 a.m. on January 2nd, Canada's highest paid CEOs had made as much money as the average Canadian will earn all year, according to a new report by the Canadian Centre for Policy Alternatives.In its annual report on CEO compensation, the Canadian Centre for Policy Alternatives (CCPA) found the gap between CEO compensation and average worker salary "growing larger and more difficult to rationalize." The 100 highest paid chief executives earned an average of 227 times more than the average worker in 2018, the most recent time period for which data is available.
TORONTO — Canada's main stock index was in record-high territory for another day as a broad-based rally helped it move higher even as energy stocks stepped back.
The S&P/TSX composite index was up 54.96 points at 17,539.73 after trading as high as 17,557.89.
In New York, the Dow Jones industrial average was up 0.75 of a point at 29,298.39. The S&P 500 index was up 2.63 points at 3,319.44, while the Nasdaq composite was down 8.46 points at 9,348.67.
The Canadian dollar traded for 76.51 cents US compared with an average of 76.66 cents US on Thursday.
The March crude contract was up 16 cents at US$58.69 per barrel and the February natural gas contract was down 6.3 cents at US$2.01 per mmBTU.
The February gold contract was up US$5.70 at US$1,556.20 an ounce and the March copper contract was up 0.40 of a cent at US$2.85 a pound.
This report by The Canadian Press was first published Jan. 17, 2020.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)
Stocks close little changed after Fed holds rates steady .
Stocks ended little changed Wednesday even after the Federal Reserve kept interest rates steady and maintained a positive view on the U.S. economy. The Dow gained just 11 points after rising as much as 221 points. The S&P 500 was down about 0.1%, while the Nasdaq advanced less than 0.1%.“News that the Fed is still increasing its balance sheet will be music to the stock market’s ears as many investors believe the liquidity somehow makes its way into the stock market helping to fuel the rally,” said Chris Rupkey, a chief financial economist at MUFG.