Canada’s main stock index extended its losing streak to four days on Friday, logging losses every single day in this holiday-shortened week. The biggest losers on the TSX were the heavyweight mining and energy sectors, with the financial, industrial and tech markets also in the red in an otherwise broad decline where only the telecom segment gathered any gains. Traders took stock of U.S. labour market data, maintaining expectations of a rate cut later this month.
U.S. stocks also tumbled. New data from August indicates a continued slowdown in the labour market, heightening concerns on Wall Street. Nonfarm payrolls increased by 142,000, falling short of the 161,000 gain anticipated by Dow Jones-polled economists. Nonetheless, the unemployment rate decreased slightly to 4.2 per cent, meeting expectations.
The Canadian dollar traded for 73.70 cents U.S. compared with 74.01 cents U.S. on Thursday.
U.S. crude futures traded $0.96 lower at $68.19 a barrel, and the Brent contract lost $1.16 to $71.53 a barrel.
The price of gold was down US$21.54 to US$2,495.96.
In world markets, the Nikkei was down 265.62 points to 36,391.47, the Hang Seng remained at 17,444.30, the FTSE was down 60.24 points at 8,181.47, and the DAX was down 274.60 points to 18,301.90.
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(Top image generated with AI)