McGill University seeks emergency injunction to dismantle pro-Palestinian encampment
McGill University has filed a request for an injunction to have the pro-Palestinian encampment removed from its campus.
Stock indexes on Wall Street are mixed in uneven trading Thursday and bond yields are broadly lower after the government reported that a measure of inflation that's closely watched by the Federal Reserve eased in October.
The S&P 500 edged up 0.1% as of 3 p.m. Eastern. Gains in technology and health care stocks outweighed a pullback in banks, energy companies and elsewhere in the market.
Chipmaker Nvidia rose 1.7% and drugmaker Pfizer gained 1.6%, while Bank of America fell 2.6% and Marathon Oil dropped 1.6%.
Salesforce slumped 8.4% for the biggest drop in among S&P 500 stocks after Bret Taylor said he would resign as co-CEO of the customer-management software developer.
The Dow Jones Industrial Average fell 153 points, or 0.5%, to 34,433 and the Nasdaq rose 0.3%.
Major indexes are coming off of their second straight month of gains.
Yields on both short-term and long-term bonds fell. The yield on the 10-year Treasury, which influences mortgage rates, edged lower to 3.53% from 3.61% late Wednesday.
Investors are reviewing the latest update on inflation. A measure of inflation that is closely monitored by the Fed eased in October. Wall Street has been closely watching any updates about inflation to get a better sense of whether the Fed will tone down its aggressive interest rate increases.
The central bank has been deliberately slowing the economy in order to tame stubbornly hot inflation. Prices have been falling, but still remain historically high.
Fed Chair Jerome Powell said Wednesday that the central bank could begin moderating its pace of rate hikes as soon as December, when its policymaking committee will hold its next meeting. The Fed, though, has been very clear about its intent to continue raising interest rates until it is sure that inflation is cooling.
The Fed has raised its benchmark rate six times since March, driving it to a range of 3.75% to 4%, the highest in 15 years. Wall Street expects the benchmark rate to reach a peak range of 5% to 5.25% by the middle of 2023.
A big concern for Wall Street has been whether the Fed can tame rates without sending the economy into a recession as it hits the brakes on economic growth. Businesses are seeing demand fall for a wide range of goods as inflation squeezes wallets and analysts generally expect the U.S. to dip into a recession, even if it is mild and short, at some point in 2023.
"What turns mild recessions into deep economic scarring is the buildup of excess, and we don't have a bubble this time," said Katie Nixon, chief investment officer for Northern Trust Wealth Management.
Inflation will continue to be the main focus for Wall Street, and "on that score, things seem to be coming off the boil," she said.
The latest government data on inflation comes amid several reports from the employment sector showing that the labor market is starting to soften. The strong labor market has been good for the economy, but has made it more difficult for the Fed to fight inflation as wages grow. The closely watched monthly report on the job market will be released on Friday.
Investors are also getting more data this week on inflation's impact over the broader economy. Activity in the manufacturing sector contracted in November for the first time since May 2020, according to the Institute for Supply Management. The report also shows that prices are falling.
"All signs point to a deceleration of inflation in everything except wages," Nixon said. "That is sort of the last man standing."
McGill University has filed a request for an injunction to have the pro-Palestinian encampment removed from its campus.
The head of British Columbia’s civil service has revealed that a “state or state-sponsored actor” is behind multiple cyber-security incidents against provincial government networks.
A rare and severe solar storm is expected to bring spectacular displays of the northern lights, also known as aurora borealis, across much of Canada and parts of the United States on Friday night.
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.
A swarm of roughly 20,000 bees gathered around a woman’s car in the parking lot of Burlington Centre.
The Biden administration said Israel's use of U.S.-provided weapons in Gaza likely violated international humanitarian law but wartime conditions prevented U.S. officials from determining that for certain in specific airstrikes.
Former U.S. President Donald Trump's youngest son, Barron Trump, has declined to serve as a delegate at this summer’s Republican National Convention, according to a senior Trump campaign adviser and a statement from Melania Trump's office.
A person was arrested in East Vancouver Thursday after allegedly entering a car while a mother was breastfeeding her four-month-old boy.
The actions, including the decision to use non-lethal force, to disperse pro-Palestinian protesters from the University of Calgary campus were justified, Alberta Premier Danielle Smith said Friday.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.