Canada’s main stock index fell further on Friday, mirroring losses in US markets as crude oil prices faced downward pressure. According to Statistics Canada, the economy added 60,000 jobs in September, keeping the unemployment rate steady at 7.1 per cent. Traders are increasingly anticipating another interest rate cut from the Bank of Canada at its upcoming policy meeting on October 29, following last month’s rate reduction—the first since March—aimed at bolstering economic growth.
The US government shutdown entered its 10th day, with the Senate failing for a seventh time to pass competing short-term funding bills that could resolve the impasse. So far, there’s little indication of meaningful progress in negotiations between Republicans and Democrats. The ongoing deadlock has left investors searching for direction amid a lack of fresh economic data. Despite this, the latest University of Michigan report suggests both the US economy and consumer sentiment remain resilient.
| TSX | 29,850.89 | -419.09 |  |
| TSXV | 980.77 | -13.50 | |
| CSE | 184.04 | -4.72 | |
| DJIA | 45,479.60 | -878.82 | |
| NASDAQ | 22,204.43 | -820.20 | |
| S&P 500 | 6,552.51 | -182.60 | |
The Canadian dollar traded for 71.42 cents US compared to 71.28 cents US on Thursday.
US crude futures traded US$2.67 lower at US$58.84 a barrel, and the Brent contract lost US$2.53 to US$62.69 a barrel.
The price of gold was up US$48.61 to US$4,009.16.
In world markets, the Nikkei was down 491.64 points to ¥48,088.80, the Hang Seng was down 462.27 points to HK$26,290.32, the FTSE was down 81.93 points to ₤9,427.47, and the DAX was down 369.79 points to €24,241.46.
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