BEFORE THE BELL: Jobs data could prove to be more positive than August; Pot problems may hit Bay Street
Canada’s job outlook could be a little more positive compared to August. Stats Can is releasing its September jobs data this morning, with analysts predicting it will likely be a bounce back from the over 50,000 jobs lost in August. US jobs data is coming in as well at the same time. The information will give investors a better indication on the future of interest rate hikes, especially with the Bank of Canada making another rate decision later this month.
The volatility in oil prices continues today as US crude pushes ahead again to 74.57 a barrel. The market focus is quickly shifting back to upcoming sanctions on Iran as analysts suggest Iranian exports could fall below 1 million barrels a day.
The Loonie is also falling to 77.35 cents US.
Traders will be watching to see how the market reacts to news provinces may be shorted on marijuana stock weeks ahead of legalization and sales. Major producers say they’re not able to completely fill orders for provinces across the country due to crop shortages and packaging issues.