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TSX edges off recent record after blowout jobs report, U.S. stock markets mixed

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TORONTO — Canada's main stock index edged lower Friday after closing at a record high the day before as markets reacted to a much stronger-than-expected jobs report, while U.S. stock markets were mixed. The S&P/TSX composite index closed down 66.

TORONTO — Canada's main stock index edged lower Friday after closing at a record high the day before as markets reacted to a much stronger-than-expected jobs report, while U.S. stock markets were mixed.In New York, the Dow Jones industrial average was up 125.08 points at 39,512.84.The S&P 500 index was up 8.60 points at 5,222.68, while the Nasdaq composite was down 5.40 points at 16,340.87.

“I think at the beginning of the year, had you asked anyone, they would have said that rate cuts would have happened a lot sooner than what they're experiencing now,” she said. The Bank of Canada is in a tough spot, said Chiu, as it risks cutting too early and reigniting inflation, or cutting too late and boosting chances of a recession.“The longer interest rates remain at this level ... the consumer will feel that more so because of mortgage rates.”

 

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