Jobs numbers leave investors cold
North American stock markets looked to extend the sharp losses already registered as August trading got under way amid U.S. employment data that slightly missed expectations.
The S&P/TSX composite index turned sharply negative 159.43 points, or 1%, to approach noon hour at 15,171.31. Markets in
The Canadian dollar dipped 0.08 at
Markets were hit by disappointing earnings news Thursday by the likes of Nike, Valeant Pharmaceuticals, Barrick Gold, and Suncor Energy.
In earnings news Friday, pipeline company Enbridge reported a second-quarter net profit of
Cash flow from operating activities was
Regional telecom company Bell Aliant reported a higher second-quarter profit of
Revenues were down at
All but one of the 14 Toronto subgroups were lower, as energy stocks slid 2.1%, metals and mining weakened 1.7%, and financials faded 1.2%
The lone holdout was gold, up 0.4%.
The calendar may have changed to August, but stocks have resumed their late July tumble.
The Dow Jones Industrials dropped 84.44 points to 16,478.86, after yesterday's 300-point-plus plunge.
The S&P 500 lost 9.35 points to 1,921.32. The NASDAQ composite docked 34.55 points to 4,335.22.
GoPro's debut earnings report failed to impress
Iliad dropped 7% in
On the other hand, shares of LinkedIn popped 9% after the social media company posted better-than-expected quarterly results. Expedia traveled 5% higher on upbeat earnings and a 29% jump in bookings.
Tesla also drove 2.5% higher ding after
Bally Technologies hit the jackpot as Scientific Games agreed to acquire the slot-machine maker for
Procter & Gamble rallied about 4% after posting a solid earnings beat despite shrinking sales. Investors largely overlooked the consumer products giant's tepid outlook for the year.
Burger King relinquished an early 2% gain as investors digest the fast food chain's earnings beat.
Other big-name companies also reported earnings, including Clorox and Chevron.
Employers in the U.S. added 209,000 jobs in July. That was well shy of the 288,000 jobs that were created in June and below the gain of 230,000 jobs predicted by economists.
The weaker-than-expected jobs report could ease fears on
The U.S. government said the unemployment rate ticked up to 6.2% from 6.1%.
In other economic news, a new ISM report showed U.S. manufacturing activity shifted into a higher gear in July. However, a separate report revealed consumer sentiment dipped in July to the lowest level since March.
Prices for 10-year U.S. Treasuries hiked, lowering yields to 2.49% from Thursday's 2.56%. Treasury prices and yields move in opposite directions.
Oil prices sank
Gold prices strengthened
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