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HomeBusiness ReportAFTER THE BELL: TSX slides, Apple shares soar on positive Q3 results

AFTER THE BELL: TSX slides, Apple shares soar on positive Q3 results

The sliding price of oil combined with trade tensions between the U.S. and China pulled down the TSX today.

Canada’s main stock exchange dropped 65 points to 16,368.

The main culprit was the energy sector, which took a big hit as oil prices dropped to a low not seen since late June.

Oil traded $0.96 cents lower at $67.80 US a barrel, with an unexpected rise in American domestic crude supplies.

America plans to slap tariffs of 25-percent on $200 billion worth of Chinese goods, with China threatening to retaliate.

On Wall Street, the Dow finished the day down 51 points to 25,363.

On the plus side, the Nasdaq finished the day up 35 points to 7,707.

This was mostly on the back of Apple, whose shares traded 5.8-percent higher at press time after the company posted positive Q3 results.

Apple is inching towards becoming the first U.S. publicly traded company worth a trillion dollars.

The loonie continues to gain ground on the greenback, up five one-hundredths of a cent to 76.92 cents US, while gold tumbled $8.70 to $1,217 an ounce.

Meanwhile, the U.S. Federal Reserve is keeping interest rates flat and reiterated its plan to slowly lift borrowing costs to keep the economy.

This comes after upbeat news from the Federal Open Market Committee, reporting that the economic activity in the U.S. is rising at a strong rate and that the unemployment rate has stayed low.

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