The Toronto stock market started the day higher in early trading after another positive report on the U.S. economy.
The S&P/TSX composite index lifted 29.98 points to 14,410.53 shortly after the Toronto Stock Exchange opened, while the Canadian dollar climbed 0.02 of a cent to 90.67 cents US.
A survey from payroll processor ADP said that U.S. companies hired at a faster clip in March. Private employers added an estimated 191,000 jobs in March, another positive sign for the jobs market ahead of non-farm payrolls due on Friday.
On Wall Street, markets quickly turned negative as investors weighed whether the report could push the U.S. Federal Reserve to raise interest rates sooner rather than later – a risk for equity prices.
The Dow Jones Industrials slipped 21.07 points to 16,511.54 while the Nasdaq gained 6.14 points to 4,274.18. The S&P 500 index dropped 1.17 points to 1,884.35.
Copper prices jumped in the wake of the a magnitude-8.2 earthquake that struck the northern coast of Chile, a major producer of the metal. May copper was up 2.4 cents at $3.06 a pound.