Canada's Stock Market Slides Amid Labour Data Reassessments

Canada's and US stock markets declined on Friday after labour data releases from both economies. Statistics Canada reported a loss of 42,000 jobs in August, while the unemployment rate remained steady at 6.4%. Chief economist Sébastien Mc Mahon noted that the trend is still positive for Canada's economy.

The Canadian market was also affected by lower gold prices due to US labour data causing investors to reassess interest rates from the Federal Reserve. Mc Mahon stated that U.S. rates are higher across the curve, which is not beneficial for gold.

Lululemon Athletica Inc.'s shares plummeted 17.38% after revealing a decline in financial performance and downgrading its guidance for the year.