MID-DAY: Unemployment rate remains at 5.8 in Canada; Trump talks fuel efficiency and medicine
The latest report on Canadian jobs isn’t likely to push the Bank of Canada to raise the interest rate. Stats Can reported the unemployment rate stayed the same at 5.8 per cent as the country shed about 1,100 jobs. Analysts say the likelihood of an interest rate coming at the end of May has dropped.
On Bay Street the TSX is up by 67 points to 16,026 and across the border the Dow is gaining 113 points to 24,853.
Traders will be watching the Healthcare and Auto Sectors as President Trump is talking fuel efficiency standards and prescription drug prices in the US.
Oil has backed off from its recent rally, down slightly to 71.18 a barrel.
The Loonie is following, down to 78.18 cents US.