Canada’s main stock index posted modest gains on Friday, tracking a broad global rally as bond market volatility subsided. Investors also turned their attention to US employment data, which could influence expectations for the Federal Reserve’s next interest rate decision. Meanwhile, Prime Minister Mark Carney announced plans to accelerate approvals for a proposed crude oil export pipeline to Canada’s West Coast, a key initiative aimed at reducing the country’s economic dependence on the United States.
South of the border, US equities also moved higher as investors reviewed September’s non-farm US payrolls report, which showed the economy added 29,000 jobs last month, with unemployment rising to 4.2%. Analyst estimates predicted job growth of 84,000 and the unemployment rate to stabilize at 4.1%. This lifted hopes that the Federal Reserve would hold rates steady later this month.
| TSX | 35,502.65 | +347.89 |  |
| TSXV | 880.57 | +1.79 | |
| CSE | 157.22 | +0.08 | |
| DJIA | 51,176.96 | +250.40 | |
| NASDAQ | 27,190.86 | +319.27 | |
| S&P 500 | 7,722.72 | +56.27 | |
The Canadian dollar traded for 70.17 cents US compared to 70.29 cents US on Thursday.
US crude futures traded US$1.26 lower at US$91.61 a barrel, but the Brent contract rose $0.36 to US$102.70 a barrel.
The price of gold was down US$35.13 to US$4,138.14.
In world markets, the Nikkei was down 647.26 points to ¥68,309.46, the Hang Seng was down 640.98 points to HK$23,972.29, the FTSE was up 33.68 points to ₤10,461.95, and the DAX was up 282.71 points to €25,222.06.
