Jobs report weakens stocks

Melisa R. H. Posted On September 4, 2026

August’s employment number came in better than expected in the U.S., but weaker in Canada. The effect was the same: markets in New York and Toronto slipped roughly a third of a percent on Friday, with the Dow declining 0.51%. For the week, the S&P was flat, the Nasdaq enjoyed a modest gain while the Dow and TSX fell only a fraction of a percent. The strong employment number south of the border stoked fears of an interest rate hike and sent the U.S. 10-year yield climbing to 4.784%. Meanwhile, gold slipped $40 to US$4,430, silver fell 1.2% to US$66.05 and WTI crude held around US$91.45 as the war between the U.S. and Iran wears on.

Industrials and utilities rallied the most in Toronto while materials led four sectors down. Key names on Bay Street: BRP 5.47%, CNQ -1.09% as the most active name, Thomson Reuters -5.02%, Silvercorp Metals -4.76% and Curaleaf 4.1%. In New York: Sandisk 11.9%, Intel 4.51%, Tesla-5.92%, Fair Isaac -16.68% and Lululemon -17.38%. Meanwhile, Bitcoin fell 2% to US$79.780.