Markets

TSX May Open Higher As Oil Prices Rise, Canada Adds More Jobs

The TSX looked set to open higher on Friday, lifted by rising oil prices and by robust jobs data out of Canada.

Stock futures for the March quarter on the S&P TSX index were up 0.3% recently.

Statistics Canada said Friday that the country added 15,400 jobs in February, following a huge loss in January, due to gains in full-time work. The unemployment rate declined by 0.1 percentage points to 5.8%.

Meanwhile, oil prices were up and Action Economics said market narratives suggest position trimming is at play. Crude prices are near net unchanged on the year-to-date, but up by just over 25% in the year-on-year comparison.

The TSX gained 66 points on Friday, led higher by info tech and industrials.

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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