Canada’s labour market continues steamrolling expectations. 27,700 new jobs (all full-time) were added to the economy in May, according to Statistics Canada. Economists were anticipating 5,000. And the unemployment rate fell to 5.4 per cent from 5.7 per cent. We’ll gather reaction to this and the stunningly disappointing jobs numbers in the U.S., where 75,000 jobs were added last month. Economists were expecting 175,000.

KEY SENATE VOTES FOR ENERGY SECTOR (and beyond)

The heavily-amended version of Bill C-69 got the go-ahead in the Senate last night, meaning the controversial legislation that will change the approval process for pipelines and other major infrastructure projects now returns to the House for review. Meanwhile, a critical committee report on Bill C-48 was defeated in the Senate, and so legislation to impose a moratorium on certain oil tanker traffic in B.C. is still alive. 

THE SHOVE

Mark Stevens has been fined US$500,000 and banned from NBA games and all Golden State Warriors activities for shoving Toronto Raptors point guard Kyle Lowry Wednesday night. In a statement late yesterday, Stevens (a venture capitalist who’s estimated to be worth several billion dollars) said he’s embarrassed and “looks forward to making it right.”

MEXICO TARIFFS

Reading between the lines, the door is still open for Mexico to dodge the five per cent tariffs that are scheduled to take effect on Monday. U.S. Vice-President Mike Pence said yesterday “at this point” the levies will kick in as scheduled, but talks will continue in the coming days. We’ll watch for developments.

OTHER NOTABLE STORIES

-CNOOC has cut approximately 100 jobs in Canada. A spokesperson told our Bloomberg partners the move is designed to keep the company “competitive amongst our peers and ensure our long-term economic viability.” Keep in mind the company made a bunch of employment-related commitments when it bought Nexen in 2012.  

-Beyond Meat shares shot up as much as 26 per cent in after-hours trading yesterday after the meatless-burger maker forecast revenue above estimates. There was a lot of talk on the conference call about partnering with quick-service restaurants. CEO Ethan Brown said he doesn’t see any “material obstacle” to teaming with the largest QSRs.

-Barnes & Noble, the big U.S. bookstore chain, is being acquired by Elliott Advisors for US$683 million including debt (6.50/share).

NOTABLE RELEASES/EVENTS

-Notable data: Canadian labour force survey, U.S. nonfarm payrolls

-8:00 a.m. ET: International Trade Diversification Minister Jim Carr holds media call from Tokyo

-9:00 a.m. ET: Walmart delivers business update and holds Q&A with investment community

-9:30 a.m. ET: SNC-Lavalin in Montreal court to decide between trial by judge or jury.

-12:30 p.m. ET: Foreign Affairs Minister meets Cuba Foreign Affairs Minister Bruno Eduardo Rodríguez Parrilla​ in Toronto

-1:00 p.m. ET: Ontario Premier Doug Ford delivers remarks in Mississauga on anniversary of election (plus avail)​

-3:30 p.m. ET: Freeland and Parrilla hold media avail in Toronto

-4:30 p.m. ET: Alberta Premier Jason Kenney provides update in Calgary on energy war room

-Theresa May steps down as U.K. Conservative Party leader

-Apple Worldwide Developers Conference in San Jose

Every morning BNN Bloomberg's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN Bloomberg's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnnbloomberg.ca/subscribe.