Toronto stock market declines ahead of busy week for economic data

Facade of the Toronto Stock Exchange (ShutterStock image)

TORONTO — The Toronto Stock market was little changed at the start of a week that will see a heavy slate of key economic data.

The S&P/TSX composite index was down 24.42 points at 15,601.31, after closing at a record high close Friday. The Canadian dollar was down 0.27 of a cent to 91.7 cents US while traders await the Bank of Canada’s announcement on interest rates Wednesday.

U.S. markets were mixed with the Dow Jones industrials off 1.67 points to 17,096.78, the Nasdaq up 13.2 points to 4,593.47 and the S&P 500 index up 2.36 points to 2,005.73.

Later in the morning, traders will consider the latest reading on the health of the American manufacturing sector. The Institute for Supply Management’s index for August was expected to indicate slowing expansion.

On Friday, the U.S. government releases its employment report for August. Economists are looking for another strong month of job creation in the neighbourhood of 220,000.

Canadian jobs data also comes out on Friday.