TSX extends rally to a 7th session amid higher commodities strong jobs


TORONTO — The Toronto stock market extended its rally to a seventh consecutive session amid higher commodity prices and a surprising surge in job creation in Canada last month.The S&P/TSX composite index was up 62.12 points at 15,388.43, while the Canadian dollar rose 0.07 of a U.S. cent to 79.49 cents.Economists had expected no job growth last month but Statistics Canada said about 29,000 jobs were added, although much of it was part-time work. The one-month increase wasn’t enough to change the national unemployment rate, which remained 6.8 per cent.New York markets were also strong as investors took in the latest corporate earnings. Among those reporting was General Electric (NYSE:GE), which soared almost 11 per cent as the company announced a big stock buyback and said it would sell most of its financial services arm and focus on its industrial businesses.The Dow Jones industrial average rose 98.92 points to 18,057.65, the Nasdaq advanced 21.41 points to 4,995.98 and the S&P 500 was up 10.88 points at 2102.06′On the commodity markets, the May crude contract closed 85 cents at US$51.64, while June gold rebounded from a three-day string of losses to rise $11 to US$1,204.60 an ounce.The Canadian Press

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