TSX hits another high as pot stocks fall after U.S. AG report

The Canadian Press</span>
Published Thursday, January 4, 2018 8:52AM EST
Last Updated Thursday, January 4, 2018 4:41PM EST

TORONTO -- It was another record close for Canada's main stock index despite a sharp drop in the health-care sector which includes some of the country's biggest marijuana companies.

The S&P/TSX composite index was up 41.39 of a point to 16,412.94, gaining ground throughout the day after flatlining shortly after markets opened.

Cannabis stocks were pummelled after The Associated Press reported that U.S. Attorney General Jeff Sessions will rescind an Obama-era policy that generally barred federal law enforcement officials from interfering with marijuana sales in states where pot is legal.

South of the border, Wall Street indexes also hit all-time highs as the Dow Jones industrial average climbed 152.45 points to 25,075.13. The S&P 500 index added 10.93 points to 2,723.99 and the Nasdaq composite index advanced 12.38 points to 7,077.92.

The Canadian dollar closed at an average trading value of 79.90 cents US, up 0.11 of a U.S. cent.

In commodities, the February crude contract gained 38 cents to US$62.01 per barrel and the February natural gas contract was down 13 cents to US$2.88 per mmBTU.

The February gold contract was up US$3.10 to US$1,321.60 an ounce and the March copper contract added one cent at US$3.26 a pound.

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