Investing.com - The Canadian stock market rose on Friday, as investors gauged President Donald Trump’s tariff policies and February’s U.S. and Canada jobs reports came in.

By 10:00 ET, S&P/TSX 60 index was up 9 points, or 0.6%. The S&P/TSX Composite was up 206 points, or 0.85%.

Friday’s report revealed that the Canadian labor market remained mostly steady, adding only 1,100 jobs, significantly lower than consensus expectation of 20,000 new jobs.

The U.S. economy added 151,000 jobs, up from January’s 125,000, but missing economist expectations of 159,000 new jobs.

Canada’s main stock index slipped in the prior session, as rapid fluctuations in Trump’s tariff plans exacerbated investor uncertainty.

Trump temporarily suspended levies on most goods coming from Canada and Mexico until April 2 on Thursday, reversing a decision days earlier to allow the duties to come into effect because of a perceived lack of action by these countries to help stem the flow of illegal drugs and migrants into the U.S.

Trump’s approach to trade relations with Canada and Mexico -- the two biggest U.S. trading partners -- has whipsawed since his return to office, clouding the outlook for the highly-integrated North American economy. In February, Trump slapped 25% tariffs on non-energy Canadian goods and all Mexican products, but later delayed them for 30 days.

U.S. stocks higher

U.S. stocks edged higher Friday, bouncing after February’s jobs report and Thursday’s selloff amid uncertainty around President Donald Trump’s tariff policies.

By 10:00 ET, the Dow Jones Industrial Average had increased by 145 points or 0.35%, S&P 500 had risen by 18 points or 0.3%, and NASDAQ Composite had climbed by 110 points or 0.6%.

The main Wall Street indices dropped sharply Thursday, with investors increasingly concerned the volatility surrounding the White House’s tariff policies will hamper consumer spending and add uncertainty to business decisions.

Crude gains, but set for weekly losses

Oil prices rose, but were on track for their biggest weekly decline since October, as a murky outlook around U.S. tariff policy mingled with an anticipated output increase from major producers.

By 10:00 ET ET, Brent futures increased by 2.3% to $71.02 a barrel, while U.S. West Texas Intermediate futures rose 2.2% to $67.80 a barrel.

However, for the week Brent is down over 4%, set for its largest weekly decline since the week of October 14. WTI is set to drop almost 5%, also its biggest weekly fall since that week.

Gold rises

Gold prices were up 0.4% as the U.S. dollar lingered near a four-month low amid the ongoing trade policy uncertainty.

Investors were also cautious ahead of an all-important U.S. employment report that could factor into how the Federal Reserve approaches interest rate decisions later this year. Fed Chair Jerome Powell is scheduled to deliver remarks on Friday.

(Scott Kanowsky also contributed to this article)