US jobs miss expectations, markets jump... Canada’s trade deficit narrowed as exports grow... Vancouver home sales slump 26 per cent...
US jobs miss expectations, markets jump
As Labour Day approaches there it seems ironic that the largest positive influence on markets was a lower-than-expected jobs report. The US added 151,000 jobs in August, falling short by around 30,000.
The near-miss has led to talks of a delay in interest rates by the Fed, with December now favoured.
Canadian stocks advanced in all sectors except healthcare. Materials and energy stocks led the gains on the main TSX index as gold and oil prices were boosted by the US jobs report which weakened the greenback.
Wall Street indexes closed higher along with Europe’s major markets while Asia closed before the jobs report but were mostly higher.
The S&P/TSX Composite Index closed up 111.8 (0.76 per cent)
The Dow Jones closed up 72.66 (0.39 per cent)
Oil is trending higher (Brent $46.72, WTI $44.30 at 5pm)
Gold is trending higher (1328.90 at 5pm)
The loonie is valued at U$0.7698
Canada’s trade deficit narrowed as exports grow
Exports grew by 3.4 per cent to $42.7 billion in July with volumes up 3.7 per cent and prices down 0.3 per cent. Imports were down 0.1 per cent to $45.2 billion with volumes down 1.2 per cent while prices were up 1.1 per cent.
Statistics Canada reported Friday that the country’s merchandise trade deficit narrowed to $2.5 billion in July following a record high of $4.0 billion in June.
Exports to the US increased 3.3 per cent and Canada’s trade surplus widened to $2.6 billion as imports from the US slipped 0.5 per cent to $29.9 billion.
Exports to countries other than the US were also higher in July, up 3.9 per cent to $10.2 billion with the UK and China leading. Imports were also higher (0.6 per cent) to $15.3 billion and the trade deficit narrowed to $5.1 billion.
Vancouver home sales slump 26 per cent
Home sales and prices have tumbled in Vancouver for the second consecutive month, but is not necessarily due to the recently-introduced 15 per cent tax on foreign buyers.
The Greater Vancouver Real Estate Board reported a near 26 per cent drop in sales in August compared to a year earlier while prices advanced 31.4 per cent over the year.
The board said that it is too soon to say whether the foreign buyers’ tax has had a major impact on sales.
As Labour Day approaches there it seems ironic that the largest positive influence on markets was a lower-than-expected jobs report. The US added 151,000 jobs in August, falling short by around 30,000.
The near-miss has led to talks of a delay in interest rates by the Fed, with December now favoured.
Canadian stocks advanced in all sectors except healthcare. Materials and energy stocks led the gains on the main TSX index as gold and oil prices were boosted by the US jobs report which weakened the greenback.
Wall Street indexes closed higher along with Europe’s major markets while Asia closed before the jobs report but were mostly higher.
The S&P/TSX Composite Index closed up 111.8 (0.76 per cent)
The Dow Jones closed up 72.66 (0.39 per cent)
Oil is trending higher (Brent $46.72, WTI $44.30 at 5pm)
Gold is trending higher (1328.90 at 5pm)
The loonie is valued at U$0.7698
Canada’s trade deficit narrowed as exports grow
Exports grew by 3.4 per cent to $42.7 billion in July with volumes up 3.7 per cent and prices down 0.3 per cent. Imports were down 0.1 per cent to $45.2 billion with volumes down 1.2 per cent while prices were up 1.1 per cent.
Statistics Canada reported Friday that the country’s merchandise trade deficit narrowed to $2.5 billion in July following a record high of $4.0 billion in June.
Exports to the US increased 3.3 per cent and Canada’s trade surplus widened to $2.6 billion as imports from the US slipped 0.5 per cent to $29.9 billion.
Exports to countries other than the US were also higher in July, up 3.9 per cent to $10.2 billion with the UK and China leading. Imports were also higher (0.6 per cent) to $15.3 billion and the trade deficit narrowed to $5.1 billion.
Vancouver home sales slump 26 per cent
Home sales and prices have tumbled in Vancouver for the second consecutive month, but is not necessarily due to the recently-introduced 15 per cent tax on foreign buyers.
The Greater Vancouver Real Estate Board reported a near 26 per cent drop in sales in August compared to a year earlier while prices advanced 31.4 per cent over the year.
The board said that it is too soon to say whether the foreign buyers’ tax has had a major impact on sales.
