Stocks up in early trading

Stockhouse Editorial
0 Comments| November 8, 2013

The TSX composite rose 31.72 points to 13,325.92 in early trading on Friday. The Dow was up 32.17 to 15,626.15, while NASDAQ gained 24.71 to 3,882.05.

Stocks were up as a better-than-forecast job reports added to signs growth is strong enough for the economy to withstand a stimulus reduction.

Statistics Canada reported that the economy created 13,200 jobs last month while the jobless rate held steady at 6.9%. Economists had expected that about 11,000 jobs would be created.

The U.S. Labor Department reported that the economy cranked out 204,000 jobs, far above the approximately 120,000 reading that was expected. The jobless rate ticked up 0.1 of a point to 7.3%, reflecting the huge temporary layoffs that resulted from the partial U.S. government shutdown during early October.

The price of gold fell US$22.36 to US$1,285.38 an ounce, while silver slipped US$0.24 to US$21.42 an ounce.


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