Canada’s benchmark stock index took a hit on Friday as stronger-than-expected US employment data fuelled speculation that the Federal Reserve could raise interest rates later this month. Meanwhile, Statistics Canada reported that the economy shed 42,000 jobs in August, a 0.2% decline, while the unemployment rate remained unchanged at 6.4%.
US equities moved lower after August’s robust payroll report reinforced expectations of a potential Fed rate hike at its upcoming meeting. Non-farm payrolls increased by 162,000 jobs last month, significantly surpassing economists’ forecasts of 53,000, according to a Dow Jones survey. The unemployment rate held steady at 4.1%, in line with expectations, while job growth figures for both June and July were revised higher.
| TSX | 36,513.80 | -119.32 |  |
| TSXV | 965.40 | -6.60 | |
| CSE | 183.08 | +15.79 |  |
| DJIA | 53,414.25 | -271.86 | |
| NASDAQ | 26,506.99 | -77.07 | |
| S&P 500 | 7,718.60 | -29.11 | |
The Canadian dollar traded for 72.28 cents US compared to 72.50 cents US on Thursday.
US crude futures traded $0.09 higher at US$91.39 a barrel, and the Brent contract rose $0.55 to US$96.07 a barrel.
The price of gold was down US$62.06 to US$4,431.09.
In world markets, the Nikkei was up 806.46 points to ¥65,020.94, the Hang Seng was up 437.56 points to HK$25,650.87, the FTSE was down 0.43 point to ₤10,831.09, and the DAX was up 43.08 points to €26,046.40.