Toronto stock market plunges as most sectors fall, loonie up after jobs report

The Canadian Press</span>
Published Friday, July 7, 2017 1:47AM EDT
Last Updated Friday, July 7, 2017 11:50AM EDT

TORONTO -- The main Toronto stock index took a dive this morning, dragged down by gold and energy companies.

The S&P/TSX composite index was down 129.27 points to 14,948.73, after 90 minutes of trading.

In New York, the Dow Jones industrial average gained 57.01 points to 21,377.05. The S&P 500 index climbed 7.85 points to 2,417.60 and the Nasdaq composite index rose 38.46 points to 6,127.92

Meanwhile, the Canadian dollar gained ground following a stronger-than-expected jobs report that boosted expectations that the Bank of Canada will raise its key interest rate next week. The loonie was trading at 77.58 cents US, up from an average price of 77.24 cents US on Thursday.

The August crude contract was down US$1.61 to US$43.91 per barrel and the August natural gas contract was up two cents to US$2.90 per mmBTU.

The August gold contract was down US$9.00 to US$1,213.20 an ounce and the September copper contract was down two cents at US$2.64 a pound.

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