CLOSING BELL: Markets react to February jobs data as TSX, Dow both close up
As expected Canadian and American jobs numbers released today affected the markets in Toronto and New York, but in different ways.
Although Canada added 15,400 jobs last month there was an overall drop in full-time employment and slower wage growth. The TSX did end the day 39 points higher though at 15,577, pushed up by gains in oil and base metals.
On Wall Street the Dow Jones capped off the ninth birthday of the bull market by closing up 440 points to 25,335. Data showed the U.S. added 313,000 jobs in February and also had slower wage growth, which experts say has cooled off fears of the Federal Reserve speeding up interest rate hikes.
“Pharma Bro” Martin Shkreli is going to jail for seven years. The 34-year-old was sentenced today for defrauding investors. He’s famous for raising the price of the life-saving anti-parasitic drug Daraprim in the United States 5,000 per cent overnight back in 2015.
At presstime oil is up $1.97 to $62.09 U.S. per barrel, gold is up $2.20 to $1323.90 an ounce, and the loonie is up close to half a cent to 77.99 cents U.S.