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(EMAILWIRE.COM, January 24, 2013 ) San Francisco, CA -- While the world market revisions have a global affect, those in the Toronto stock exchange watched the market close lower throughout the week whilst traders focused on the overall global impact of the World Bank's growth forecast.
The latest in U.S. Economy in regards to the Federal Reserve were also weighing heavy on many minds, as the S&P/TSX composite lost 33.15 points to fall to 12,508.82. The TSX Venture Exchange fell to 1.59 to 1,230.2.
The Canadian dollars found its way down to 0.21 of a cent to 101.41 US cents.
The United States indexes had a mixed day on Wednesday, as the Dow Jones Industrial fell 23.66 points, as it watched Boeing encounter more problems.
The Boeing stock dropped 3.38% to a $74.34, while Japan's two largest airlines had to ground every Boeing 787 for safety operations. That checking followed a forced emergency landing by a Boeing jet earlier in the week.
The 747 is known as the Dreamliner, and is Boeing's latest model, boasting some of the msot advanced technology. However, since its recent launch, there have been a rash of problems that have plagued the model.
The Nasdaq found its way to a 6.76 increase to 3,117.54, while the S&P 500 added 0.27 on its total for 1,472.63.
The Fed noted that 12 of its banking districts reported what are being referred to as “modest or moderate” growth in the weeks leading to the new year.
Markets had been lackluster after the World Bank projected the economy would be expanding by 2.4% in 2013, which was down from the 3% noted at the start of summer.
"Overall, the global economic environment remains fragile and prone to further disappointment, although the balance of risks is now less skewed to the downside than it has been in recent years," the World Bank said in its twice-yearly report.
Base metals ltd TSX declines, which a 1.62% degrease. New York Mercantile Exchange dropped three cents to $3.61 per pound.
"We have to assume that the market tends to price a lot of stuff in ahead of time so by the time it gets published by the World Bank, you would think the majority of those assumptions were priced in," he said.
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Source: EmailWire.com
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