It was another day in the red for Canada’s main stock index Friday, as job data raised concerns about an economic slowdown and higher inflation. While most sectors were lower, energy and tech provided some gains.
The S&P 500 continued its upward climb, reaching the 4,300 benchmark for the first time since August 2022. Its rally in the previous session closed the day in a bull market and ended the bear market that began in January of last year, achieving 20 per cent growth since its low in October 2022. Traders now anticipate the latest inflation data next week, along with the Federal Reserve’s upcoming policy announcement.
The Canadian dollar traded for 74.92 cents U.S., compared to 74.83 cents U.S. on Thursday.
U.S. crude futures traded $1.01 lower at $70.28 a barrel, and the Brent contract lost $1.10 to $74.86 a barrel.
The price of gold was down US$5.09 to US$1,960.34.
In world markets, the Nikkei was up 623.90 points to 32,265.17, the Hang Seng was up 90.77 points to 19,389.95, the FTSE was down 37.38 points to 7,562.36, and the DAX was down 40.12 points to 15,949.84.
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