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TSX Down 50 Points on Mixed Sectors, But Miners, Energy Strong

The TSX is down 50 points this morning on mixed sectors. Miners and energy are the strongest sectors this morning, boosted by higher commodities prices. Miners have gained 2.5% and energy, up 2.5%.

The biggest decliner this morning is utilities, down 0.85%.

Business conditions in the Canadian manufacturing sector fell to a record low in August. The RBC Canadian Manufacturing Purchasing Managers' index (PMI) fell to a seasonally adjusted 48.6 last month from 49.4 in August. It was the lowest level in the survey's five-year history and the second month in a row the index has been below the 50 threshold showing contraction in the sector.

New orders shrank to 48.7 from 50.3, while new export orders slipped to 50.0 from 50.6., Reuters reports. Employment rose slightly , to 48.2 from 47.2.

Meanwhile, US jobless claims 10,000 to a seasonally adjusted 277,000 for the week ended Sept. 26, the Labor Department said on Thursday. The claims were below the 300,000 threshold for the 30th straight week, signalling a strong labour market.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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