Today I indulge my nerdy side that entirely enjoys reading the financial pages – esp. when it’s high drama days, like today.
In short, the TSX composite index hit a record. (if you don’t “get” the TSX, read below). It broke through 15,000 thanks in part to oil which also hit a high of $130/barrel.
Part of the spike in oil is due to predictions of increased demand from China as it recovers from the earthquake plus an airport-related strike in Norway preventing oil workers from getting out to the rigs. (crazy, eh?)
In other news 
my apple stock increased from $177.86 to $185.90 since I bought it April 30th. That’s not so bad!
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TSX composite index – what is it, and why should you care?
It’s basically an average of the biggest companies who trade their stocks on the Toronto Stock Exchange. You’d recognize tons of the names: most of the Banks (BMO etc.), Canadian Tire, Maple Leaf Foods – you get the gist. Why should you care? It’s an indication of the health of the general cdn. economy. Obviously, if most canadian companies like those I listed are going gangbusters, their stock value will rise, they will be hiring more people and we all live happily ever after. If they don’t pollute us all to death in the process, that is.
well…. the TSX tracks how well corporations are doing and not the economy per se considering that corporations save lots of money by lying people off, out-sourcing, hiring part-time work etc. There is a growing disconnect between what happens on Bay Street and Main Street. While Main Street’s success is Bay Street’s success, it is not so true of the other way around anymore.
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Point taken! Thanks for popping by.
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