TORONTO (The Canadian Press) – The Toronto stock market closed lower as the TSX had a generally positive reaction to stronger-than-expected job creation numbers in Canada and U.S. for May.
But gold and base metals stocks were sharply lower, dragging the S&P/TSX composite index down 36.04 points to 12,373.3.
A total of 95-thousand jobs were created in May, much higher than the approximately 15-thousand jobs that economists had expected. Also, the unemployment rate moved down to 7.1 per cent from 7.2 per cent.
The Canadian dollar closed up 0.59 of a cent to 98.06 cents US.
The Dow Jones industrials jumped 207.5 points to 15,248.12 as the U.S. Labor Department said that 175,000 jobs were created during May. The expectation had been the U.S. economy would crank out about 165,000 additional jobs during May.
The Nasdaq composite index was ahead 45.16 points to 3,469.22 while the S&P 500 index rose 20.82 points to 1,643.38.