Equities in Toronto Friday in a broad retreat after a weak jobs report and as falling oil prices weighed on energy stocks.
The S&P/TSX composite index was off its lows of the morning but remained negative 25.37 points to greet noon at 12,749.13. The index was reportedly on track for a 1.1% loss for week.
The Canadian dollar staggered 0.66 cents to 72.06 cents U.S.
The most influential movers on the index including Barrick Gold Corp, which fell 2% to $15.11, and Canadian Natural Resources, which declined 2.6% to $29.52.
Pipeline operator Enbridge declined 1.5% to $46.95 and Suncor Energy lost 0.9% to $31.52.
Dairy company Saputo rose 2.6% to $36.12 as analysts upped their price targets on the stock following quarterly earnings.
On a crowded day for economic numbers, Statistics Canada reported this morning that our economy lost 5,700 jobs, in January, and the unemployment rate eked up to 7.2%.
Moreover, the agency said Canada's exports increased 3.9% in December and imports were up 1.6%. Consequently, Canada's merchandise trade deficit with the world narrowed from $1.6 billion in November to $585 million in December.
Finally, Western University in London, Ontario reported that its Ivey Purchasing Managers Index (PMI) registered 66 by the end of January, compared to 49.9 in December, and 45.4 in January 2015.
The PMI asks purchasing managers if their purchases went up, down or stayed static during the month, and any reading over 50 denotes an overall increase.
ON BAYSTREET
The TSX Venture Exchange moved into positive territory 0.41 points to 504.89
Nine of the 13 TSX subgroups were negative midday, with information technology stocks swooning 3%, while metals and mining and consumer discretionaries each slid 1%.
The four gainers were led by gold, ahead 2.5%, materials, up 1.1%, and energy, 0.3% to the good.
ON WALLSTREET
U.S. equities fell on Friday as mixed U.S. employment data raised concerns that the Federal Reserve may raise rates this year.
The Dow Jones industrial average tumbled 194.6 points, or 1.2%, to break for lunch at 16,221.98, McDonald's and Home Depot weighing the most on the index
The S&P 500 was punished 28.71 points, or 1.5%, to 1,886.74, as information technology fell nearly 2%.
The NASDAQ index hurtled earthward 118.6 points, or 2.6%, to 4,390.96, as Apple fell 1%. Also weighing on the index were Amazon, doffing 5.3%, and Facebook, off 5.8%
Investors also digested a new batch of earnings reports, with Tyson Foods, Estee Lauder, Moody's and Coca-Cola posting quarterly results.
The U.S. Bureau of Labor Statistics reported Friday that the stateside economy added 151,000 jobs in January, in contrast to a gain of 190,000 projected by economists. The unemployment rate, however, fell to 4.9% from 5%
Another data set released Friday was the U.S. trade deficit, which widened in December amid a rising dollar and a weak global demand.
Prices for the 10-year Treasury gained back lost ground, lowering yields to Thursday’s 1.86%. Treasury prices and yields move in opposite directions.
Oil prices shed 31 cents a barrel to $31.41 U.S.
Gold prices inched higher 30 cents to $1,155.89 U.S. an ounce.
