• TSX -8.39 to 13,519.50 (Reuters)
Investors disinclined to do much ahead of the release of the U.S. government's employment report for May on Friday. A disappointing report from the ADP payrolls firm greatly reduced expectations for strong job growth in the U.S. government's non-farm payrolls report
• DOW -41.59 o 12,248.55
The ratings agency said the U.S. government's debt rating outlook depends on the outcome on negotiations for debt reductions. Moody’s said it may place the rating on review for a downgrade if there is no progress in increasing the debt ceiling in the coming weeks, and that it was reviewing the ratings of Bank of America Corp. Citigroup Inc. and Wells Fargo & Co. for possible downgrades. The three banks' current ratings have been boosted from Moody’s assumption the federal government would prevent them from failing in a crisis. Moody's said Thursday that this "too big to fail" assumption may no longer be true.
• Dollar +.01c to 102.50c USD
• Oil +$.11 to $100.40USD per barrel Prices had been under pressure after the U.S. Energy Department said crude inventories rose 2.8 million barrels last week against expectations of a decline of 1.6 million barrels.
• Gold -$10.50 to $1532.70 per ounce A sharp drop in China's main purchasing managers index helped send precious metals down
• Canadian 5 yr bond yields markets +.03bps to 2.27. The spread (based on the MERIX 5 yr rate published rate of 3.99%) is at the top of the comfort zone at 1.72
