Stocks Tumble Along With Crude Oil Prices -- Canadian Commentary

(RTTNews) - Canadian stocks fell yet again Friday, following U.S. markets into the red amid anxiety over the American election.

Tumbling crude oil prices also threatened the Canadian economy, overshadowing a better-than-forecast Canadian jobs report.

The S&P/TSX Composite Index lost 74.17 points, or 0.51 percent, to 14,509.25.

Energy stocks fell 1 percent.

December WTI crude fell 59 cents, or 1.3%, to settle at $44.07 a barrel on the New York Mercantile Exchange, for the lowest settlement since September 20.

Gold stocks were lower by 0.8 percent, trimming gains from earlier in the week.

The U.S. economy generated 161,000 jobs last month, slightly short of expectations, according to the Labor Department.

The unemployment rate fell to 4.9%, however, keeping the door open for a Federal Reserve rate hike in December.

Canadian employment jumped by 43,900 jobs in October while the unemployment rate stayed steady at 7.0 percent as more people were looking for week.

In corporate news, Toronto's Metrolinx has filed notice that it could terminate its $770 million contract with Bombardier (BBD.B.TO) after delivery delays.

Telus Corp. (T.TO, TU) reported that its third-quarter adjusted net income decreased year-over-year to C$383 million from C$398 million.