TSX Flat After Strong Jobs Data -- Canadian Commentary

(RTTNews) - Canadian stocks were flat Friday despite better-than-expected jobs data from both sides of the border.

The S&P/TSX Composite Index was up 9.84 points, or 0.06 percent, to 15,506.68.

Data from Statistics Canada showed that the employment increased by 15,300 jobs in February after jumping by 48,300 jobs in January.

The figure came as a surprise to economists, who had forecast the jobs to fall by 5,000.

The jobless rate declined to 6.6 percent from 6.8 percent in January. Economists were looking for the jobless rate to remain unchanged for the month.

In the United States, the Labor Department released a report this morning showing stronger than expected job growth in the month of February, which reinforced expectations for an interest rate hike by the Federal Reserve next week.

Non-farm payroll employment jumped by 235,000 jobs in February after surging up by a revised 238,000 jobs in January.

Swedish authorities are saying "bribery is still happening" with Bombardier Transportation (BBD.B.TO).

CBC News reports TD Bank (TD.TO) employees are being pressured to meet high sales revenue goals.

Crude oil futures continue to fall Friday, extending steep weekly losses on demand concerns, a U.S. supply glut and a strong dollar.

April West Texas Intermediate crude fell 79 cents, or 1.6 percent, to settle at $48.49 a barrel, having plunged 9.1 percent this week.

The US oil rig count rose for an eighth straight week to the highest level since 2015, according to Baker Hughes.