The TSX: Fears Of A Red October

October 7, 2014 • Blog, Business

Written by: Reid Goodison

Falling commodity prices amid geopolitical concerns pushed the TSX into a four-month low on Thursday. Oil prices fell below $90 US per barrel for the first time since April 2013, while copper prices plunged to a six-month low.

The first case of Ebola in the United States, coupled with apprehension over the Federal Reserve’s set interest rate served to exacerbate the trend.

The benchmark TSX index recovered by mid-day Friday, due to signals from the Fed that interest rate hikes won’t be as imminent or monolithic as feared. Closing out Friday, the benchmark TSX index indicates recovery from its Thursday slump. Time, and more importantly commodity prices and US interest rates, will tell whether or not this recovery will stick.

Born and raised in Brampton, ON, Reid Goodison is a Social Media Intern for the Bay St. Bull magazine. Reid graduated Dalhousie University in 2014 with a BA, majoring in Political Science and minoring in Business. Reid went on to work as a Communications Assistant for the Government of Canada. Reid has an eclectic slew of interests, including international politics, indie music, hockey, football, North American fiction, business, local art, and fashion.

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