'He's in our hearts': Family and friends still seek answers one year after Nathan Wise’s disappearance
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
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.
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
Amazon's paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.
The fire burning near Fort McMurray grew from 25 hectares to 5,500 hectares over the weekend.
Russia’s President Vladimir Putin began a Cabinet shakeup on Sunday, proposing the replacement of Sergei Shoigu as defence minister as he begins his fifth term in office.
Police are searching for a male suspect after a man was “slashed in neck” on Sunday morning in downtown Toronto and died.
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
Health Canada announced various product recalls this week, including electric adapters, armchairs, cannabis edibles and vehicle components.
English, history, entertainment, math and geography: high school trivia teams could be quizzed on any of it when they compete at the Reach for the Top Nationals in Ottawa in June.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
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.
The threat of zebra mussels has prompted the federal government to temporarily ban watercraft from a Manitoba lake popular with tourists.
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.
Just as she had feared, a restaurant owner from eastern Quebec who visited Montreal had her SUV stolen, but says it was all thanks to the kindness of strangers on the internet — not the police — that she got it back.