February 9, 2019

On Friday the S&P 500 ended the day up 0.1% but Toronto was down 0.45%.

FedEx was down 2.3%, and Linimar got pushed down 7.6%. These both may have been related to some negative news or views on trade talks, especially China / U.S. There was no news from Linamar to particularly explain a drop.

Statistics Canada reported on jobs and unemployment for January. They reported 67,000 jobs gained with Ontario gaining 41,000 and most provinces gaining but Alberta losing 16,000. The unemployment rate rose 0.2% to 5.8% nationally as more people looked for work. As always, I take the monthly numbers with a grain or two os salt because statistically the error level is about plus or minus 30,000 and that is if it is a perfect random sample. Year over year is probably more reliable and on that basis there were 327,000 jobs created. Even with population growth that is good growth for the year.

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