CAPITAL MARKETS

S&P 500 eyes new horizon

Market futures were mixed after the S&P 500 closed at yet another fresh high on Friday, having broken through the 4,700 mark intraday, on stronger-than-expected jobs data.

Staff reporter
 Near-term producer Gold Mountain Mining has conditional approval to uplist to the TSX

Near-term producer Gold Mountain Mining has conditional approval to uplist to the TSX

The S&P 500 reached an all-time high of 4,718.50 before closing at 4,697.53, an almost 27% gain year-to-date.

There were reasons to believe the US Federal Reserve would be in a position to hike rates twice next year, especially given the current US labour market trends, Pepperstone head of research Chris Weston said.

Nevertheless the gold price strengthened above US$1,800 an ounce for the first time this month.

It was at $1,817/oz on the spot market at the time of writing.

Still among commodities, iron ore fell, with the MySteel Australian 62% fines down 2.9% to $101 per tonne.

Finally, imminent producer Gold Mountain Mining says it's received conditional approval to "uplist" to the TSX. 

Its shares (TSXV: GMTN) closed 2% lower on Friday.

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