Canada's main stock index edged lower Friday afternoon dragged down by weakness in energy and marijuana stocks while investors digested the latest job numbers in both Canada and the U.S.
The S&P/TSX Composite Index shed 63.14 points Friday afternoon to 16,349.80.
The Canadian dollar climbed 0.055 cents to 80.61 cents U.S.
On the economic front, Statistics Canada reported that the unemployment rate dropped to 5.7 percent in December to reach its lowest mark since comparable data became available in 1976. The economy generated 78,600 net new positions, including 23,700 full-time jobs.
Also -- purchasing activity in Canada slowed in December as inventories shrunk while employment continued to rise. According to Ivey Purchasing Managers Index released on Friday the seasonally adjusted index fell to 60.4 from 63.0 in November. A reading above 50 indicates an increase in the pace of activity. The unadjusted index fell to 49.3 from 62.4.
In corporate news, Aurora Cannabis Inc (ACB.T) said on Friday it would buy a 17.6 percent stake in privately held marijuana grower Green Organic Dutchman Holdings for $55 million.
Also -- Abattis Bioceuticals Corp. (ATT:CNX) announced that it is undertaking another non-brokered private placement for gross proceeds to the company of up to $6 million.
Crude-oil prices dropped 0.9% to $61.41 a barrel, while gold futures slipped 0.2% to $1,318.40 an ounce.
ON BAYSTREET
The TSX Venture Exchange rose 10.24 points, or 1.16%, to 890.62.
3 of the TSX subgroups were positive this afternoon -- with health-care issues up 2.96%, utility stocks ahead by 0.19% and financial issues up 0.06%.
On the downside -- Energy stocks were off 1.99%, while base metals backtracked 1.16% and base metals issues shed 0.84%.
ON WALLSTREET
U.S. stocks climbed on Friday, with major indexes hitting records for a fourth straight session after the December jobs report showed signs that improvements in the labor market continued, however it also signaled that the Federal Reserve could accelerate its timeline for raising interest rates.
The Dow Jones Industrial Average rose 44 points, or 0.2%, to 25,120. The S&P 500 was up 6 points, or 0.2%, to 2,730. The Nasdaq Composite Index gained 35 points to 7,112, a gain of around 0.5%.
The U.S. economy added 148,000 jobs in December, according to the Labor Department. Economists polled by Reuters expected a gain of 190,000. The unemployment rate in December held steady at 4.1%. Hourly earnings rose 2.5% in the past 12 months, meeting estimates, and were up from 2.4% in November.
Other data released Friday include the non-manufacturing ISM index, which fell to 55.9 in December from 57.4 in November. Factory orders, meanwhile, rose 1.3 percent in November, exceeding expectations.
In corporate news -- GoPro Inc. slipped 0.3% following a TechCrunch report that said the company was cutting 200 to 300 jobs in its aerial division, the segment of the company responsible for its Karma drone.
Apple Inc. was up 1.2%. The technology giant published information late Thursday that confirmed that all devices running its mobile and personal-computer operating systems are affected by two massive computer chip vulnerabilities.
Sears Holdings Corp. said Thursday that it will close more than 100 stores in 2018. The stock fell 2.2% on Friday.
The 10-year Treasury note yield is up 0.2 basis point at 2.456%.
