Canada’s stock exchange sagged today, pulled lower by backpedaling gold and energy stocks.
The TSX fell 34 points as the index’s six day win streak came to an end.
It was a red day for the exchange’s energy sector, despite a $1.56 cent jump in the price of oil.
Oil rose to $55.35 US a barrel as strong employment numbers south of the border along with U.S. sanctions on Venezuela fueled speculation for higher demand.
The biggest loser, percentage wise, on Bay Street was Celestica, which dropped 18.9 percent after the electronics manufacturer posted underwhelming fourth-quarter earnings results.
The TSX lost ground despite a rise in pot stocks, with Aphria adding to an already winning week by gaining another 10.3 percent to $12.59 per share.
In New York, U.S. markets couldn’t hold the momentum of a robust jobs report.
The Dow retreated from earlier gains but still managed to move up 64 points while the Nasdaq lost 17 points.
According to U.S. government data, the American economy added 304,000 jobs in January. The surprisingly strong jobs report comes despite a government shutdown that dragged on for 35 days.
January marked 100 months in a row of positive job creation, which is the longest period on record.
And while the positive jobs data initially boosted sentiment on Wall Street, a 5.3 drop in shares of online shopping giant Amazon limited gains and dragged the tech-heavy Nasdaq.
Despite posting a record holiday season, in which Amazon’s fourth quarter sales were up 20 percent to $72.4 billion, Amazon’s 2019 sales forecast fell short of analysts’ expectations.
Keeping the Dow afloat today was a push from the exchange’s energy sector, with Chevron and Exxon Mobile climbing 3.2 and 3.6 percent, respectively.
The loonie strengthened by 6/100ths of a cent against the greenback to $0.7638 US, while gold was down $2.70 to $1,319 an ounce.
