CBC Digital Archives

May 2008: TSX record highs!

It was in 1929 that the volatile and powerful nature of the stock market first became clear. That year's market crash and ensuing decade-long depression revealed the vital, yet fragile nature of this system, and its tremendous power over world economies. The centre of that complex web has always lain in New York City, and what happens in the U.S. has usually had direct, and sometimes disastrous effects on Canadians. The CBC Digital Archives looks back on 50 years of coverage from 1958-2008, covering the crashes, "corrections," peaks and valleys of the stock market.

media clip
The Toronto Stock Exchange is riding high today after posting record results on the day. High crude oil prices push the TSX north of 15,000 points for the first time. In this May 2008 clip, CBC-TV's Ron Charles talks to excited investors who have watched the market bounce back strongly from a worrisome slump just two months earlier. Hopes are high, but some speculators wonder if the roller coaster ride has really ended.
• In stock market terms, a point (also called a basis point) equals 1/100th of a per cent.

• The ups and downs of the market in early 2008 came after a five-year bull market between 2002-2007. It was the among the longest bull markets since the end of the Second World War. It doesn't even approach the longest postwar bull run, though; that occurred between October 1990 and March 2000, lasting nine years, five months and 13 days.

Medium: Television
Program: The National
Broadcast Date: May 20, 2008
Guest(s): Art Howard, Patricia Mohr, Gabriel Nijmeh
Host: Peter Mansbridge
Reporter: Ron Charles
Duration: 2:09

Last updated: February 7, 2012

Page consulted on September 10, 2014

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