A look at Monday morning’s market action
Global stocks fell following a bumper U.S. jobs report late last week that prompted investors to question if interest rates will fall at all this year, just as earnings season is about to get under way. TSX futures were in negative territory following this country’s stronger-than-expected jobs report.“After a very strong jobs report, we think the cutting cycle is over,” declared Aditya Bhave, deputy chief U.S. economist at BofA. “Inflation is stuck above target, with upside risks.
Overseas, the pan-European STOXX 600 was down 0.8 per cent in morning trading. Britain’s FTSE 100 slid 0.4 per cent, Germany’s DAX gave back 0.74 per cent and France’s CAC 40 retreated 0.69 per cent.Commodities “There are genuine fears in the market about supply disruption. The worst case scenario for Russian oil is looking like it could be the realistic scenario,” said PVM analyst Tamas Varga. “But it’s unclear what will happen when Donald Trump takes office next Monday.”
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