Skip to main content

Featured

Canada’s Job Market Gains Momentum as Unemployment Drops to 6.5%

  I n October, Canada gained 66,600 jobs and the unemployment rate dropped 0.2 percentage points to 6.9 per cent.  Canada’s labour market showed renewed strength in November , with the unemployment rate falling to 6.5% as the economy added 53,000 jobs . This marks a positive shift after months of slower employment growth, suggesting resilience despite global economic uncertainties. Key Highlights: Unemployment Rate: Down to 6.5%, the lowest in several months. Job Creation: 53,000 new positions added, driven largely by full-time employment. Sector Growth: Gains were seen in professional services, healthcare, and construction, reflecting strong demand across diverse industries. Regional Trends: Ontario and British Columbia led the way in job creation, while some provinces experienced more modest growth. Economic Context: Analysts note that the increase in employment could ease concerns about consumer spending and economic slowdown. However, wage pressures and infla...
Post a Comment
Read more

article

Labels

Stock Market Today: Tokyo’s Nikkei Leads Asian Gains Following Wall Street Rally

 


World shares advanced today, with Asian markets tracking Wall Street’s rally. The standout performer was Tokyo’s benchmark Nikkei 225 index, which surged 2.4%. This impressive gain was powered by strong performances from semiconductor makers. Here are the key highlights:

  1. Tokyo’s Nikkei 225: The Japanese stock market index gained more than 900 points, closing at 38,460.08, its highest level in a month. Notably, shares in computer chip companies like Renesas Electronics Corp. (up 10.5%) and Tokyo Electronic (up 7.1%) contributed significantly to this rally.

  2. Greater China: Shares in Greater China also rallied. The Hang Seng in Hong Kong added 2%, while the Hang Seng Tech Index gained 3.1%. Chinese artificial intelligence company Sensetime Group saw its shares surge by 31.2% after releasing the latest version of its SenseNova generative AI model.

  3. South Korea: The Kospi index in South Korea rose by 1.9%, led by a 3.4% gain in heavyweight Samsung Electronics.

  4. Australia: Australia’s S&P/ASX 200 index edged up by 0.1% following the release of a fifth consecutive quarter of decelerating inflation. The consumer price index for the first quarter eased to 3.6% from the previous 4.1%.

  5. U.S. Markets: On Tuesday, the S&P 500 climbed 1.2% to 5,070.55, pulling further out of the hole created by a six-day losing streak. The Dow Jones Industrial Average rose 0.7% to 38,503.69, and the Nasdaq composite jumped 1.6% to 15,696.64. A weaker-than-expected report on U.S. business activity helped support the market, which remains in an awkward phase.

The hope on Wall Street is for the economy to avoid a severe recession but not to stay so hot that it keeps upward pressure on inflation. A preliminary report from S&P Global seemed to hit that sweet spot, and Treasury yields eased in the bond market Earnings reports also played a significant role in trading, with several companies exceeding analysts’ expectations. For instance, GE Aerospace saw an 8.3% increase after raising its profit forecast for the full year and beating first-quarter earnings expectations.

In summary, global shares are riding the momentum of Wall Street’s rally, and Tokyo’s Nikkei 225 stands out as a key driver in today’s market surge.

Labels:

Comments

Post a Comment