'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.
Canada's main stock index ended down almost 400 points in the third straight day of downward movement amid better-than-expected employment numbers and expectations of further rate hikes on both sides of the border.
The S&P/TSX composite index ended down 395.88 points or 2.1 per cent at 18,583.13.
Colin Cieszynski, chief market strategist at SIA Wealth Management, said markets were hit hard Friday, particularly in the US.
In New York, the Dow Jones industrial average was down 630.15 points or 2.1 per cent at 29,296.79. The S&P 500 index was down 104.86 points or 2.8 per cent at 3,639.66, while the Nasdaq composite was down 420.91 points or 3.8 per cent at 10,652.40.
Canada got a bit of a boost from employment numbers released today that were better than expected, as well as the rally in crude oil, Cieszynski said.
The Canadian economy saw a modest bump in employment in September, while the unemployment rate fell to 5.2 per cent.
U.S. non-farm payroll data released Friday was also better than expected, said Cieszynski.
He said that means the central banks don't need to pivot from their quantitative tightening paths just yet.
BMO chief economist Douglas Porter said in a note Friday morning that the bank is still predicting a rate hike of half a percentage point at this month's Bank of Canada meeting, but added that the upcoming Business Outlook Survey and inflation data could change that.
Of course, analysts have been saying that some so-called bad news on employment, inflation or earnings might actually be good news for the market, as it could signal a coming end to rate hikes.
But Cieszynski said good news is still good news -- the latest numbers show that central banks have been successfully deflating the bubble without sending markets into a crisis.
"It does mean that the economy is kind of holding up," he said. "We don't want everything spiraling into a crisis. That would be a disaster for everybody."
The Canadian dollar traded for 72.93 cents US compared with 72.89 cents US on Thursday.
The November crude contract was up US$4.19 at US$92.64 per barrel and the November natural gas contract was down 22.4 cents at US$6.75 per mmBTU.
The December gold contract was down US$11.50 at US$1,709.30 an ounce and the December copper contract was down almost six cents at US$3.39 a pound.
Cieszynski said he will be watching earnings season in the US with a close eye, especially for global companies that may be affected by the US dollar's rise.
"We've had a general slowing of the economy, but the bigger problem for the Americans is going to be their dollar," he said.
"The U.S. dollar has just gone up so much against everything that I think it's going to be a problem for companies in their earnings."
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.