Once again, energy was the only sector to come out in the green for Canada’s main stock index on Friday. The TSX was dragged down in an otherwise broad decline led by industrials and financials.
Wall Street also moved sharply lower, as the aggressive rise in borrowing costs continue to stoke fears of slowing economic growth. Solid job growth and a drop in the unemployment rate last month means a tight labor market, and that gives more room for the Federal Reserve to stick to big-sized interest-rate hikes. The Labor Department’s latest employment report showed nonfarm payrolls increased by 263,000 jobs last month.
Today in the Markets
The Canadian dollar traded for 72.78 cents US compared to 72.74 cents US on Thursday.
US crude futures traded 4.70 per cent higher at $92.61 a barrel, while the Brent contract gained 3.66 per cent to $97.88 a barrel.
The price of gold was down US16.09 to US$1,696589.
In world markets, the Nikkei was down 195.19 points to 27,116.11, the Hang Seng was down 272.10 points to 17,740.05, the FTSE was down 6.31 points to 7,146.10, and the DAX was down 197.78 points to 12,273.00.
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