TSX sharply higher, Dow Jones soars, snapping seven-day losing streak

The Toronto Stock Exchange and major U.S. markets got the week off to a strong start.

On U.S. markets, the Dow Jones industrial common fell 207.12 factors to 17,408.05, the Nasdaq index fell 46.59 factors to five, 055.21, and the S&P 500 fell 19.69 factors to 2,084.49.

China’s central bank set the value of yuan at 6.2298 a dollar, prompting the biggest one-day loss since 1994, when it unified official rate with market rates.

The December gold contract rose $3.20 to US$1,107.30 an ounce, the September crude contract was down $1.57 at US$43.39 a barrel and the September contract for natural gas was down three cents at US$2.82.

The S&P/TSX composite index dropped 159.03 factors to 14,307.36, nearly offsetting a 163.

In corporate news, Google was a major gainer after the tech giant announced a new structure for the company that included separating its lucrative Internet business from some of its more speculative research projects in a move that includes creation of a new holding company to be named Alphabet.

NuVista Energy Ltd. (NVA.TO) Tuesday said its second-quarter net loss widened to CAD21.