How the Dow Jones industrial average fared on Friday + MORE Dec 2nd

Investors made a small move back to safer assets Friday afternoon after the government’s November jobs report showed continued hiring, but weak wages. Stocks finished little changed as real estate and household goods companies rose, but banks, which have soared since the presidential election, took losses.
On Friday:
The Dow lost 21.51 points, or 0.1 per cent, to 19,170.42.
The Standard & Poor’s 500 index picked up 0.87 points to 2,191.95.
The Nasdaq composite gained 4.55 points, or 0.1 per cent, to 5,255.65.
For the week:
The Dow rose 18.28 points, or 0.1 per cent.
The S&P 500 fell 21.40 points, or 1 per cent.
The Nasdaq skidded 143.27 points, or 2.7 per cent.
For the year:
The Dow is up 1,745.39 points, or 10 per cent.
The S&P 500 is up 148.01 points, or 7.2 per cent.
The Nasdaq is up 248.24 points, or 5 per cent.
The post How the Dow Jones industrial average fared on Friday appeared first on Canadian Business – Your Source For Business News.

Petro-Canada’s Edmonton Refinery and Distribution Centre glows at dusk in Edmonton. (Dan Riedlhuber/Reuters)
OTTAWA – A comprehensive measure of Canada’s national wealth shows it has been stagnant for decades and is too heavily dependent on housing and oil and gas, says a groundbreaking national report by the International Institute for Sustainable Development.
This week’s federal government approval of two expanded oil export pipelines simply drives home the “imperative” that Canada use its fossil fuel wealth to diversify the economy, IISD president Scott Vaughan said Thursday.
“What we’re saying is this is a roller-coaster; we know it’s a roller-coaster,” Vaughan said at a news conference in Ottawa.
MORE: Canada’s economy is hostage to the housing bubble
“What goes up tomorrow will come down again. If you’re looking at what are the long-term trajectories to build Canada’s wealth, we’re saying we need to move on this (low-carbon) transition now…

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Bank of Canada Governor David Dodge in a photo from 2008. (Tom Hanson/CP)
OTTAWA – Former Bank of Canada governor David Dodge says the world economy might be better off if policy-makers bumped interest rates a little bit higher.
In prepared remarks for a speech today, Dodge says boosting borrowing costs would help promote price and financial stability under current global conditions, which include historically low interest rates and stagnant growth.
He says rate increases shouldn’t hurt employment and growth if combined with more government spending.
He acknowledges, however, that extra spending would be a “big if” with many leaders reluctant to expand public investments.
The speech to members of the C.D. Howe Institute think tank in Toronto comes less than a week before a scheduled rate announcement by Bank of Canada governor Stephen Poloz.
The Bank of Canada’s trend-setting rate sits at a paltry 0.5 per cent. Experts widely expect Poloz to leave the rate untouched, for now…

Q: In order to avoid being laid off, I’ve agreed to transfer from Canada to Germany with my current company. As a result, I listed my Linden, Alta. home with a local realtor. It’s a brokerage that lists many acreages and farms near our property. The contract I signed is dated to expire in September 2017. However, since August I have found the realtor’s performance to be less than optimal. The realtor has failed to place signs on the property and hasn’t even bothered to recently pay a visit to the property. Bluntly put: I am not impressed with her performance. While I understand that it’s a difficult time to sell in Alberta, I still would’ve appreciated a motivated sales agent. Worse, my realtor is now telling me that if I want my Alberta home listed on MLS, I will have to double her commission. Yet, I thought listing on MLS was a standard. It all sounds very unethical to me. What should I do?
— Kyle, formerly of Linden, Alta. 

Laurin Jeffrey is a Toronto-based realtor who specializes in lofts and unique properties:
It can be hard to speak to real estate practices in other provinces as the rules do vary…