From outer space? Sask. farmers baffled after discovering strange wreckage in field
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A positive economic and employment outlook by the U.S. Federal Reserve propelled North American stock markets higher for a third straight day and pared losses in the choppy month of September.
Stock markets generally do well when the economy is doing well, said Mike Archibald, vice-president and portfolio manager with AGF Investments Inc., even though they were also supported by financial engineering to address the impact of COVID-19
The U.S. central bank supported positive vibes by giving "a fairly bullish outlook" for the economy, hinted that bond purchases will begin to be tapered in November and said rate hikes will begin the end of 2022 and proceed in several stages through 2024.
"The Fed's giving you confidence that they believe the economic backdrop is better than perhaps people thought a few days ago or what they thought at their last couple of meetings," he said in an interview.
Despite the eventual reduction in stimulus, monetary policy will remain accommodative with rates remaining very low, Archibald said.
"That's giving confidence to equity investors to keep money coming into into stocks."
In addition, House of Representatives Speaker Nancy Pelosi addressed an investor worry by saying Thursday that agreement has been reached on a stopgap funding bill that will avert a government shutdown.
The S&P/TSX composite index closed up 60.44 points to 20,461.93. It's down 0.6 per cent in September and up 17.4 per cent so far in 2021.
In New York, the Dow Jones industrial average was up 506.50 points at 34,764.82. The S&P 500 index was up 53.34 points at 4,448.98, while the Nasdaq composite was up 155.39 points at 15,052.24.
The cyclical sectors of the market performed best with energy, financials and consumer discretionary all rising on the TSX.
Energy increased 2.8 per cent on a climb in energy prices in response to the positive economic outlook with crude oil prices rising to their highest level since the end of July.
The November crude contract was up US$1.07 at US$73.30 per barrel and the November natural gas contract was up 18.8 cents at US$5.04 per mmBTU.
Arc Resources Ltd. increased 5.4 per cent. followed by Vermilion Energy Inc. and Cenovus Energy Inc.
Tourmaline Oil Corp. shares gained 4.3 per cent after the company announced late Wednesday that it was raising its dividend, paying a special dividend and upgrading its outlook.
The Canadian dollar traded for 79.03 cents US compared with 78.39 cents US on Wednesday.
The heavyweight financials sector rose one per cent with the country's banks increasing as much as 1.6 per cent on the day.
Technology was moved higher by a 10.1 per cent increase in BlackBerry Ltd. in response to its latest quarterly results. And industrials was up slightly even as shares of SNC-Lavalin Inc. dropped 2.3 per cent after the RCMP laid bribery charges against two former executives, the company and a subsidiary.
Utilities and materials were the biggest laggards. Materials lost 1.5 per cent on lower metals prices.
The December gold contract was down US$29.00 at US$1,749.80 an ounce and the December copper contract was down 2.1 cents at US$4.23 a pound.
This report by The Canadian Press was first published Sept. 23, 2021.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
Another suspect is in custody in connection with the gold heist at Toronto Pearson International Airport last year, police say.
The National Post is reporting that Rex Murphy, the pundit and columnist who hosted a national call-in radio show for decades, has died.
Careful attention to government statements and legislation is required to get a handle on the level of risk British Columbians’ information is under, as investigators probe multiple breaches under a continued barrage of attacks.
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
A Conservative government led by Pierre Poilievre would not legislate on, nor use the notwithstanding clause, on abortion, his office says, as anti-abortion protesters gather on Parliament Hill.
Hailey and Justin Bieber are going to be parents. The couple announced the news on Thursday on Instagram, both sharing a video that showcases Hailey Bieber's growing belly.
A B.C. man has been convicted of assault with a weapon after using a skid-steer Bobcat to chase two homeless people from his lawn, injuring one of them in the process.
If you're cruising down a highway and realize you have a flat tire, you may want to think twice before stopping to fix it on the side of the road.
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.
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.