![]() ![]() “We don’t want everything spiraling into a crisis. “It does mean that the economy is kind of holding up,” he said. Of course, analysts have been saying that some so-called bad news on employment, inflation or earnings might actually be good news for the market, as it could signal a coming end to rate hikes.īut Cieszynski said good news is still good news - the latest numbers show that central banks have been successfully deflating the bubble without sending markets into a crisis. He said that means the central banks don’t need to pivot from their quantitative tightening paths just yet.īMO chief economist Douglas Porter said in a note Friday morning that the bank is still predicting a rate hike of half a percentage point at this month's Bank of Canada meeting, but added that the upcoming Business Outlook Survey and inflation data could change that. non-farm payroll data released Friday was also better than expected, said Cieszynski. The Canadian economy saw a modest bump in employment in September, while the unemployment rate fell to 5.2 per cent. The S&P 500 index was down 104.86 points or 2.8 per cent at 3,639.66, while the Nasdaq composite was down 420.91 points or 3.8 per cent at 10,652.40.Ĭanada got a bit of a boost from employment numbers released today that were better than expected, as well as the rally in crude oil, Cieszynski said. In New York, the Dow Jones industrial average was down 630.15 points or 2.1 per cent at 29,296.79. Example: Find if 14 is a composite number. ![]() For example, 15 has factors 1, 3, 5, and 15, hence it is a composite number. The S&P/TSX composite index ended down 395.88 points or 2.1 per cent at 18,583.13.Ĭolin Cieszynski, chief market strategist at SIA Wealth Management, said markets were hit hard Friday, particularly in the US. A composite number is a natural number or a positive integer which has more than two factors. ![]() TORONTO - Canada's main stock index ended down almost 400 points in the third straight day of downward movement amid better-than-expected employment numbers and expectations of further rate hikes on both sides of the border. ![]()
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