TSX Set for Sharp Losses After Poor U.S. Jobs Data, Oil Slip
Canada's benchmark index may open significantly lower on the last trading day of the week, following disappointing jobs news out of the U.S. and falling oil prices .
Stock futures for the December quarter on the S&P TSX index were down by as much as 1.38% recently.
Reports said U.S. non-farm payrolls for September rose 142,000 but not as strong as the 203,000 additional jobs expected by economists. Investors believe this slims down the chance of the data-dependent Fed increasing key rates this year. The unemployment rate was at 5.1%.
Meanwhile, oil prices were a little lower on Friday, with Brent crude slipping 0.06% to US$47.66/barrel. But keeping losses in check is the optimism that the ongoing crisis in Syria, where fellow oil producer Russia launched a bombing campaign, will curb global supply.
The TSX shed 65 points at closing on Thursday, with energy and mining stocks as the biggest decliners.
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