TSX declines as sentiment turns uncertain following mixed U.S. jobs report
Investing.com —Canada’s main stock index, the S&P/TSX Composite, traded in the red by late-afternoon trading, tracking the S&P500 and Nasdaq lower as tech stocks retreated.
After two optimism-filled days driven by testimony from Fed Chair Jerome Powell that reiterated rate cuts from the Fed in June, sentiment turned uncertain after a mixed U.S. nonfarm payrolls report that showed more jobs added but an uptick in the employment rate.
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NexGen Energy (TSX:NXE) shares fell to the bottom of the TSX after missing quarterly earnings expectations, with a per loss share of $0.06 versus an expected loss of $-0.03. Revenue remained stagnant year over year.
Tilray (TSX:TLRY) stock rose to the TSX after a few rough days, and after announcing new products and marketing initiatives.
Algonquin Power (TSX:AQN) and Utilities Corp. reported a profit in its latest quarter compared with a loss the year prior, although revenues were 11% lower year over year.
First Quantum (NASDAQ:QMCO) Minerals (TSX:FM) shares rose after an upgrade from Morgan Stanley (NYSE:MS) to «overweight» from «equal-weight».
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Data from Statistics Canada showed that the domestic economy addednet 40,700 jobs in February, smashing past expectations for a net gain of 20,000 jobs. However, thejobless rate ticked up to 5.8%, Statistics Canada said.
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