Weak U.S. jobs reports give markets lift while strong Canadian number help loonie

TORONTO — A weak U.S. jobs report further stoked hopes of interest rate cuts, while strong numbers in Canada helped to lift the loonie to a three-month high.

The S&P/TSX composite index closed up 3.16 points at 16,230.96.

In New York, the Dow Jones industrial average was up 263.28 points at 25,983.94. The S&P 500 index was up 29.85 points at 2,873.34, while the Nasdaq composite was up 126.55 at 7,742.10.

The Canadian dollar traded at an average of 75.28 cents US, up from an average of 74.75 cents US on Thursday.

The July crude contract was up US$1.40 at US$53.99 per barrel and the July natural gas contract was up 1.3 cents at $2.34 per mmBTU.

The August gold contract was up $3.40 at US$1,346.10 an ounce and the July copper contract was down 2.3 cents at US$2.63 a pound.

Index and currency in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press

Note to readers: This is a corrected story. An earlier version contained an incorrect price for gold

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