Market Beat

September 1, 2017

September 5, 2017

The TSX (-0.2%) continues to trade slightly lower weighed down by the energy and materials sectors as oil pulls back. Meanwhile Wall Street’s main indices have gained despite data showing that job growth slowed more-than-expected in August as the market is now suggesting that the Fed may not raise interest rates before mid-2018. West Texas Intermediate crude oil (-0.2%) prices fell in the wake of Hurricane Harvey, as nearly a quarter of U.S. refining capacity remains offline. Gold (+0.4%) climbed, adding to its 4% surge in August on the back of the U.S. job numbers.

Nonfarm payrolls increased by 156,000 in Aug., vs. 180,000 expected, while the unemployment rate edged higher to 4.4%. U.S. construction spending unexpectedly fell 0.6% in July, hitting a nine-month low. North American bond yields moved up with the U.S. 10-year at 2.16% and the Canadian 10- year at 1.94%.

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