IMO, Baytex in news
The S&P/TSX composite index pointed up 29.59 points to greet noon at 13,742.99
The Canadian dollar spiked
The energy sector declined, with Imperial Oil off
Baytex Energy was a major weight after it said Thursday that it is expanding into the lucrative Eagle Ford oil shale development in
Its shares fell
Industrials also turned negative, with Bombardier off
The base metals component was slightly lower as March copper moved ahead
On matters economic, figures released by Statistics Canada revealed that 29,000 jobs were created last month – mostly full-time -- and that the unemployment rate dipped two-10ths of a percentage point to stand at 7%.
All but three of the 14 Toronto subgroups were higher by
The three laggards were energy, down 0.5%, telecoms, down 0.4%, and industrials, sliding 0.3%.
The three major American stock markets all rose Friday despite a tepid government jobs report showed that only 113,000 jobs were created in January.
The unemployment rate ticked down to 6.6%, its lowest level in five years. Economists expected the U.S. economy to have added 178,000 jobs.
The Dow Jones Industrial Average jumped 84.99 points to 15,713.52.
The S&P 500 index added 13.42 points to 1,786.85. The NASDAQ grew 47.90 points to 4,104.31.
On the corporate front, shares of Apple rose after the
LinkedIn shares dropped over 8% after the professional networking site reported guidance that missed forecasts.
News Corp shares jumped following quarterly earnings that beat expectations.
Shares of Outerwall Inc. surged nearly 12% on news that the company plans to buy back
Stocks have had a choppy week of ups and downs. After sinking over 300 points Monday, the Dow logged its biggest gain of the year Thursday.
The Fed has cut the size of its so-called quantitative easing program twice since December: first from
But the poor job growth could mean that the U.S. Federal Reserve will pause on pulling back, or tapering, its monthly bond purchases at its next meeting in March
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.67% from Thursday's 2.70%. Treasury prices and yields move in opposite directions.
Oil prices took on
Gold prices rose
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