TORONTO — Canada's main stock index rose Friday, led by strength in base metals, utilities and telecom, while U.S. markets rallied after the latest jobs report came in cooler than expected. Markets rose Friday after the latest report on the U.S.
TORONTO — Canada's main stock index rose Friday, led by strength in base metals, utilities and telecom, while U.S. markets rallied after the latest jobs report came in cooler than expected.
The labour market added 175,000 jobs in April, down sharply from March and well below the 233,000 gain expected by economists. The unemployment rate also ticked higher to 3.9 per cent, and average hourly earnings rose less than expected. In New York, the Dow Jones industrial average was up 450.02 points at 38,675.68. The S&P 500 index was up 63.59 points at 5,127.79, while the Nasdaq composite was up 315.37 points at 16,156.33.Friday’s report puts an interest rate cut back on the table from the U.S. Federal Reserve for September, said Buntain.
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