Loonie up, stock markets decline in early Friday trade

TORONTO -- North American stock markets were lower Friday after employment data on both sides of the Canada-U.S. border came in below estimates.

See Full Article

The Toronto Stock Exchange's S&P/TSX index declined 34.97 points to 12,739.53 after 90 minutes of trading. Statistics Canada reported earlier that the national unemployment rate rose to 7.2 per cent in January. Economists expected it to be stable at 7.1 per cent.

In New York, the Dow Jones industrial average was down 182.37 points at 16,234.21, the broader S&P 500 composite index declined 24.97 points to 1,890.48 and the Nasdaq composite fell 98.52 points to 4,411.04.

The U.S. economy added 151,000 jobs in January, less than in recent months. The November and December data were also revised to show 2,000 fewer jobs than previously reported.

The loonie traded at 72.20 cents US, down 0.05 from Thursday's close. It had been up about half a cent before the employment reports were released.

On the commodity markets, the April gold contract fell $5.00 to US$1,152.50 an ounce and the March crude contract was up 18 cents at US$31.90 per barrel.

On Thursday, the Toronto Stock Exchange's S&P/TSX index climbed 181.48 points to 12,774.50, its second triple-digit increase in as many days. The the Dow Jones industrial average rose 79.92 points to 16,416.58, while the broader S&P 500 gained 2.92 points to 1,915.45 and the Nasdaq closed 5.32 points higher at 4,509.56.



Advertisements

Latest Economic News

  • Uber admits covering up 2016 hack that affected millions

    Economic CBC News
    Uber is coming clean about its coverup of a year-old hacking attack that stole personal information about more than 57 million of the beleaguered ride-hailing service's customers and drivers. The revelation Tuesday marks the latest stain on Uber's reputation. Source
  • Uber reveals coverup of hack affecting 57M riders worldwide

    Economic CTV News
    SAN FRANCISCO - Uber is coming clean about its coverup of a year-old hacking attack that stole personal information about more than 57 million of the beleaguered ride-hailing service's customers and drivers. The revelation Tuesday marks the latest stain on Uber's reputation. Source
  • Cheesecake Factory opens 1st Canadian location in Toronto

    Economic CTV News
    TORONTO - Sweet treat lovers near Toronto can now have their cheesecake and eat it too with the opening of Canada's first Cheesecake Factory location today. The U.S. restaurant chain, which serves dozens of different kinds of desserts, announced earlier this year that it would bring its restaurant to Toronto's Yorkdale Shopping Centre in the fall. Source
  • Meg Whitman steps down as HP Enterprise CEO

    Economic CBC News
    Meg Whitman is stepping down as the CEO of Hewlett Packard Enterprise. She'll be replaced by Antonio Neri, the company's president. Whitman became CEO of the former Hewlett-Packard Co. in 2011. That company split into two in 2015, with Whitman taking helm of HPE, which is focused on selling data-centre hardware and other commercial tech gear to other big organizations. Source
  • TransCanada says Keystone oil leak was a sudden, 'immediate' event

    Economic CTV News
    BRITTON, S.D. -- A TransCanada Corp. official says he believes an estimated 210,000-gallon oil leak discovered last week in South Dakota from the Keystone pipeline was a sudden and "immediate" event. The American News reports that Erik Tatarchuk, a TransCanada vice-president, said at a Marshall County Commission meeting Tuesday that it is unlikely oil leaked long enough to soak into the soil. Source
  • Canada 'prepared for the worst' amid squabbles over NAFTA, Freeland says

    Economic CBC News
    Despite making progress on "bread and butter" issues, Foreign Affairs Minister Chrystia Freeland said differences remain between Canada and the U.S. on a number of key chapters of the North American Free Trade Agreement (NAFTA). Speaking to reporters as the fifth round of negotiations concluded in Mexico City, the Toronto-area minister said "significant" sticking points include the U.S. Source
  • TTC CEO Andy Byford leaving Toronto to head up New York City Transit

    Economic CTV News
    TORONTO -- The chief executive officer of Toronto's transit agency is leaving his post to take a job as president and CEO of New York City Transit. Andy Byford -- who announced his resignation Tuesday, six years after joining the Toronto Transit Commission -- will remain on the job until Dec. Source
  • NAFTA: Deadlock on hard issues as round concludes

    Economic CTV News
    MEXICO CITY -- Another round of NAFTA talks wrapped up with all key issues still deadlocked Tuesday as negotiators prepared to leave Mexico City with a plethora of question marks lingering over the trade deal. Source
  • Shareholders urge TransCanada to back Keystone XL despite risk

    Economic CBC News
    TransCanada Corp. should push ahead with a $10-billion Keystone XL pipeline expansion after the state of Nebraska on Monday approved a route that would raise the cost of the controversial project, some shareholders said. The approval quashed the last regulatory hurdle for the nearly decade-old project, but the Nebraska Public Service Commission denied TransCanada's preferred route. Source
  • Federal agency dismisses complaint against Seabridge gold project

    Economic CTV News
    TORONTO -- Seabridge Gold Inc. (TSX:SEA) says a federal agency has dismissed a complaint by Alaskan conservationists against the company's massive KSM mining project in northern British Columbia. The Southeast Alaska Conservation Council had appealed to Canada's National Contact Point within Global Affairs Canada to look into whether the company had violated international guidelines on consultations with stakeholders, due diligence on environmental and human rights impacts, and disclosure of…