TSX Ends Week On Flat Note -- Canadian Commentary

(RTTNews) - Canadian stocks inched lower Friday, trimming gains from the previous two sessions.

A steep drop in oil prices and concerns about the ongoing trade battle with the U.S. kept investors in a skittish mood.

The TSX Composite Index dropped 17 points to 16,043.

In retaliation to the US Government's decision to impose tariffs on Canadian steel and aluminum shipments, Canada announced the same rate of duties worth C$16.6 billion or $12.8 billion on American imports.

Commerce Secretary Wilbur Ross announced Thursday that the U.S. will impose tariffs of 25 percent on steel imports and 10 percent on aluminum imports from Canada, Mexico, and the European Union.

The move represents the latest in a series of protectionist moves by President Donald Trump and has drawn threats of retaliation by some of the major U.S. allies.

Lululemon Athletica Inc. (LULU) reported first quarter EPS of $0.55 after the bell Thursday, up from $0.23 in the prior year period. Analysts expected EPS of $0.46. The stock has leaped to a new high for the year.

DBRS upgraded shares of Bombardier (BBD.B.TO) on sales outlook. Shares were down slightly today.

The Green Organic (TGOD.TO) shares jumped 12 percent.

In economic news, employment in the U.S. jumped by much more than anticipated in the month of May, according to a report released by the Labor Department on Friday.

Non-farm payroll employment surged up by 223,000 jobs in May after climbing by a downwardly revised 159,000 jobs in April.

Economists had expected employment to increase by 188,000 jobs compared to the addition of 164,000 jobs originally reported for the previous month.