Canadian stock market drops sharply as U.S. markets rise, despite economic slowdown signals.

Canadian stocks fell over 100 points, mainly due to energy sector losses, while U.S. markets, including the S&P 500 and Dow Jones, showed modest gains. Economic reports revealed weaker-than-expected results, with U.S. retailers and service industries experiencing contraction and fewer jobs added than anticipated. These reports have led to expectations that the Federal Reserve may cut interest rates later this year to support the economy.