In the end Canada’s main stock market, closed down a modest 34 points on Friday with the resources heavy Toronto Stock Exchange ultimately weighed down by lower commodity prices, and the release of U.S. jobs data that suggests that it will be the second half of 2024 before the Fed starts to cut interest rates.
But — perhaps taking inspiration from the U.S. where both the S&P 500 and the Nasdaq Composite showed few signs of slowing down in gaining more than 1% each, despite the release of the data that on another day may have led to selling pressures — the TSX recovered from being down 80-plus points at midday and down near 170 points earlier in today’s session.
Most sectors were lower, led By Energy down more than 2% and both Telecoms and Base Metals down by more than 1%. But Info Tech was the biggest percentage mover, gaining more than 2.5%.
Of commodities today, West Texas Intermediate crude oil fell on concerns over weak…
