Canadian Stocks Edge Lower Ahead of Jobs Data

Canadian stock futures edged lower on Friday after the TSX was swept up in an AI-driven selloff on Wall Street in the previous session. On Thursday, the S&P/TSX Composite Index suffered its steepest daily decline in five months, dragged down by sharp losses in technology stocks, particularly Shopify and Celestica. The rout prompted investors to reduce exposure to riskier assets such as equities and seek shelter in government bonds. Meanwhile, markets are looking ahead to Canada’s employment report, with the economy expected to have added 13,600 jobs in October while the unemployment rate remained at 6.5%. The data may offer clues on the BoC’s policy outlook. Meanwhile, falling gold prices weighed on mining stocks, while lower oil prices put pressure on energy shares.