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Tech stocks help lift S&P/TSX Friday, U.S. stock markets mixed after jobs report

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TORONTO — Canada's main stock index eked out a gain Friday as a rise in tech stocks helped outweigh losses in energy, while U.S. markets were mixed after employment reports on both sides of the border. The S&P/TSX composite index closed up 11.

TORONTO — Canada's main stock index eked out a gain Friday as a rise in tech stocks helped outweigh losses in energy, while U.S. markets were mixed after employment reports on both sides of the border.In New York, the Dow Jones industrial average was down 123.19 points at 44,642.52.

Both Canada and the U.S. got fresh jobs data on Friday, but the two reports painted very different pictures, said Pierre-Benoît Gauthier, vice-president of investment strategy at IG Wealth Management. In Canada, the economy added 51,000 jobs in November, while the unemployment rate jumped to 6.8 per cent.“The federal government creating jobs is in no way, shape or form an indication of the strength of the Canadian economy,” he said.

“The Bank of Canada will be stuck between a rock and a hard place, because at some point they'll still have to defend the Canadian dollar," he said.The Canadian dollar traded for 70.74 cents US compared with 71.24 cents US on Thursday.

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