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Wall Street Eyes Weekly Gain as Peace Hopes Lift Futures

  Wall Street Poised for Weekly Gain as Futures Climb on Middle East Peace Hopes Wall Street looked set to close the week on a positive note as U.S. equity futures climbed Friday, supported by renewed optimism that diplomatic progress in the Middle East could ease geopolitical tensions. Investors have been highly sensitive to any signs of de‑escalation, and this week’s developments helped unwind some of the risk premiums that had weighed on global markets. Oil prices, which surged earlier in the month on fears of supply disruptions, pulled back again as ceasefire discussions gained traction. Lower energy costs have helped cool inflation expectations, giving markets a bit more breathing room after a volatile stretch. Major U.S. indexes are now on track for a weekly gain, with tech and consumer stocks leading the rebound. Still, analysts caution that sentiment remains fragile: any setback in negotiations could quickly revive market turbulence. For Canadian investors, easing oil v...
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Canada's Job Market Soars in December: 91,000 Jobs Added, Surpassing Expectations

 

Canada's economy experienced a remarkable surge in job growth in December 2024, adding an impressive 91,000 jobs, far exceeding economists' expectations of 25,000. This significant increase brought the unemployment rate down to 6.7% from 6.8% in November.

The job gains were primarily in full-time positions, with notable increases in educational services, health care and social assistance, finance, and transportation. The public sector saw the addition of 40,000 jobs, while the private sector added 27,000 jobs. Additionally, the number of self-employed individuals rose by 24,000, marking the first increase since February.

Despite the positive job growth, the average hourly wage rose by 3.8% year-over-year, a slight decline from previous months. Economists have noted that while the job market's performance was better than anticipated, there is still room for improvement, and further interest rate cuts may be necessary to reduce excess capacity in the economy.

Overall, the strong job market performance in December 2024 signals a positive end to the year and raises questions about the Bank of Canada's future interest rate decisions.



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