Weighed down by miners, Canada’s main stock index moved lower on Friday. Even so, the TSX ended the week in roughly the same position in which it began. The tech sector was the lone gainer in an otherwise broad decline. Traders were pushed to slash bets on a September interest rate cut by the U.S. Federal Reserve after the release of jobs data that was better than expected.
U.S. markets also lost ground after the May jobs report sent yields higher, but doused hopes the Fed would cut rates any time soon. Non-farm payrolls increased by 272,000 last month, well above the 190,000 estimated.
The Canadian dollar traded for 72.68 cents U.S. compared with 73.15 cents U.S. on Thursday.
U.S. crude futures traded $0.27 lower at $75.28 a barrel, and the Brent contract lost $0.49 to $79.38 a barrel.
The price of gold was down US$89.37 to US$2,287.62.
In world markets, the Nikkei was down 19.58 points to 38,683.93, the Hang Seng was down 109.85 points to 18,366.95, the FTSE was down 17.98 points to 8,267.36, and the DAX was down 75.77 points to 18,576.90.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top photo: File)