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Positive Start to Friday

Canada's main stock index rose on Friday after the latest U.S. data showed moderate job growth in September, easing worries about a slowdown in the world's largest economy.

The TSX Composite Index gained 19.31 points to open Friday at 16,388.34

The Canadian dollar inched higher 0.16 cents at 75.15 cents U.S.

Economically speaking, Statistics Canada reported that Canada's exports rose 1.8% in August, while imports were up 1.0%. As a result, Canada's merchandise trade deficit narrowed from $1.4 billion in July to $955 million in August.

Elsewhere, Western University's IVEY Purchasing Managers' Index slumped in September to 48.7, from August's 60.6, and also down from 50.4 in September 2018

ON BAYSTREET

The TSX Venture Exchange gained 1.67 points to 559.45

All but three of the 12 Toronto subgroups were positive at the start the day, with information technology gaining 0.8%, health-care up 0.7%, and consumer discretionary stocks improving 0.4%.

The three laggards were consumer staples, down 0.3%, energy, off 0.2%, financial, slipping 0.1%.

ON WALLSTREET

Stocks traded higher on Friday following the release the latest U.S. jobs report, but still headed for their third straight weekly loss.

The Dow Jones Industrials jumped 164.76 points to begin Friday at 26,365.80

The S&P 500 tacked on 20.62 points to 2,931.25

The NASDAQ Composite surged 55.53 points to 7,927.80

Stocks came into Friday's session on pace to record large losses for the week. The Dow was down 2.3% through Thursday's close while the S&P 500 had lost 1.7%. The NASDAQ was down 0.9% week to date.

Tech was the best-performing sector in the S&P 500, gaining 1.2% as Apple rose 2%. The tech giant's stock rose after Nikkei reported the company is increasing iPhone 11 production by 10%.

The U.S. economy added 136,000 jobs in September, the Bureau of Labor Statistics said Friday. Economists polled by Dow Jones expected an increase of 145,000 jobs. The unemployment rate fell to 3.5%, a 50-year low, but wages grew at a slower-than-expected pace last month.

The Federal Reserve is largely expected to cut rates later this month. Expectations for a 25 basis-point rate cut were at 79% on Friday

Prices for the benchmark 10-year U.S. Treasury nicked higher, lowering yields to 1.53% from Thursday's 1.54%. Treasury prices and yields move in opposite directions.

Oil prices gained 65 cents to $53.10 U.S. a barrel.

Gold prices fell $6.30 to $1,507.50 U.S. an ounce.

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