Canadian stocks hit a fresh all-time high on Friday after a significantly stronger-than-expected U.S. jobs report eased concerns about a potential economic slowdown. Positive economic data and firm commodity prices propelled the S&P/TSX Composite Index by 194 points, or 0.8%, to 24,163.
Despite weakness in some sectors like real estate and utilities, solid gains in financial, energy, and technology stocks drove the market benchmark higher. With this, the TSX index rose 0.9% last week, wrapping up its fourth straight week of gains.
According to the U.S. Bureau of Labour Statistics, the economy added 254,000 jobs in September, surpassing the average monthly gain of 203,000 over the past year, while the unemployment rate held steady at 4.1%. Also, revisions to July and August employment figures added a combined 72,000 more jobs than initially reported.
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