06.11.202615:24:17UTC+00TSX Wavers After Weak Jobs Data

The S&P/TSX Composite Index hovered around 35,500 in a volatile Friday session following weaker-than-expected labor data. Canadian employment declined by 4,700 in October, an improvement from September’s 68,300 drop but well below expectations for a 13,600 increase. Private-sector employment fell by 53,000 (-0.4%), its first decrease since February, while the unemployment rate inched up to 6.7%, a six-month high.

Losses were widespread across sectors. Major banks retreated, with RBC slipping nearly 1% and BMO about 0.5%, while retailers also weakened, including a drop of more than 1% for ATD. Enbridge lost 2%. On Thursday, the index had recorded its sharpest single-day decline in five months, weighed down by heavy technology selling after a Wall Street selloff.

The tech sector rebounded on Friday in step with US markets: Shopify climbed more than 2.5% and Celestica nearly 4%, recovering some ground after a 12.7% plunge in the previous session. Energy stocks advanced despite slightly softer oil prices, whereas most miners retreated in response to lower gold prices.