CLOSING BELL: TSX up for seventh day in a row on gold, lukewarm jobs data
A lukewarm jobs report means the Bank of Canada is likely to hold its interest rate steady.
Investors on Bay Street liked that as Canada’s main stock market was up today. A Stats Canada report showed the unemployment rate stayed at 5.8 per cent, while 1,100 jobs were lost last month. They were gains across the board in the TSX’s 10 main sectors, and it closed at 15,983, up 23 points. It’s its seventh positive day in a row.
On Wall Street financials and health care pushed things higher, while some areas, like technology, lagged behind. The Dow Jones closed up 91 points at 24,831.
It looks like Facebook has fully recovered from the Cambridge Analytica scandal. The company reached $186 a share today, around the area it was in before data breach was revealed.
Oil retreated a bit today after this week’s rally that followed the U.S. backing out of the Iran nuclear deal. At press time it’s down 82 cents to $70.54 U.S. per barrel, gold is down $3.10 to $1,319.20 an ounce, and the loonie is down a tenth of a cent to 78.91 cents U.S.