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TSX to Open Lower After Disappointing Jobs Data

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Canada's benchmark index looks set to open lower on Friday, following declining oil prices and weak jobs data out of the U.S. and Canada. Stock futures for the June quarter on the S&P TSX index were down 0.28% recently.

Statistics Canada said following a 40k increase in March, employment was virtually unchanged in April (-2,100 or 0.0%), and the unemployment rate remained at 7.1%. Analysts expected a 2k gain in April and a rate of 7.1%. Meanwhile, on the other side of the border, U.S. non-farm payrolls increased by 160,000 jobs, short of the 202,000 analysts had expected on average.

In commodities, both Brent and the WTI were sliding again amid investors' profit-taking mode.

The TSX finished Thursday a little changed, with energy and financials leading the drop.

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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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