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S&P/TSX composite finishes over 130 points higher amid U.S., Canadian jobs data

Canada’s main stock index, the S&P/TSX composite, rose 134.74 points to 29,050.63 on Friday amid mixed U.S. and Canadian employment data.
This rise followed reports showing the U.S. added only 22,000 jobs last month, well below the 75,000 expected, while Canada lost 66,000 jobs and saw unemployment rise to 7.1%.
Strength in Canada’s basic materials sector helped buoy the S&P/TSX, even as U.S. markets including the S&P 500 and Nasdaq declined on Friday amid economic concerns.
Bill Merz of U.S. Bank Asset Management stated that the payroll data indicates a weakening labor market, supporting the case for the Federal Reserve to reduce interest rates at its upcoming meeting this month.
Investors are now expecting the Federal Reserve to begin cutting interest rates soon, which may support markets but signals caution about future economic growth.

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S&P/TSX composite finishes over 130 points higher, U.S. markets lose ground

TORONTO — Strength in the basic materials sector helped Canada's main stock index finish over 130 points higher on Friday, while U.S. markets were down. The S&P/TSX composite index was up 134.74 points at 29,050.63.

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