Potential tornado 'surreal' for residents who witnessed damaging storm in southern Ontario
Witnessing a potential tornado was 'surreal' for residents who caught a glimpse of the damaging storm in southern Ontario on Wednesday night.
North American stock markets were relatively quiet Monday in advance of a flood of earnings reports from major U.S. and Canadian companies expected later this week.
The S&P/TSX composite index was down 23.47 points at 20,164.96.
In New York, the Dow Jones industrial average was up 83.16 points at 35,144.71. The S&P 500 index was up 10.44 points at 4,422.23, while the Nasdaq composite was up 3.72 points at 14,840.71.
Edward Jones investment strategist Angelo Kourkafas said that with a number of major North American stock indexes hovering near record highs, investors appeared to pause Monday for a breather before what is expected to be a busy week.
“We have a lot of S&P heavyweights who are set to report earnings, including Apple, Amazon, Facebook, Alphabet. And the same in Canada, we're expecting a wave of earnings from a number of energy stocks, as well as Shopify,” Kourkafas said. “About 20 per cent of the TSX companies will be reporting earnings this week.”
Canada's benchmark stock index plummeted to its lowest level in months a week ago on investor fears over rising COVID-19 case counts around the world, closing at 19,616.62. However, the S&P/TSX composite index spent the remainder of last week rebounding to close at 20,188.43 on Friday.
Kourkafas said while investors were spooked early last week by the Delta variant of the novel coronavirus and the potential risk it poses to the global economy, they appear to be gaining confidence as a growing number of companies report positive second-quarter results.
“The second quarter earnings season is off to a very strong start, and that's really what's allowed investors to look through the Delta variant uncertainties,” he said.
Kourkafas added if this week's earnings are also positive, the market rally will likely continue.
“Markets rarely move in a straight line ... so we won't be surprised if we see some volatility,” he said. “But we do have a lot of confidence that the business and markets side will prove durable and sustainable.”
The Canadian dollar traded for 79.69 cents US compared with 79.52 cents US on Friday.
The September crude oil contract was down 16 cents at US$71.91 per barrel and the September natural gas contract was up 4 cents at US$4.08 per mmBTU.
The August gold contract was down US$2.60 at US$1,799.20 an ounce and the September copper contract was up 18.5 cents at US$4.59 a pound.
This report by The Canadian Press was first published July 26, 2021.
Witnessing a potential tornado was 'surreal' for residents who caught a glimpse of the damaging storm in southern Ontario on Wednesday night.
As temperatures rise out of a mild El Nino winter, Canada's buggy season is already upon us again, and this year, the bugs are looking especially big.
Immigration Minister Marc Miller tabled legislation today that is intended to extend citizenship to some children born outside of the country.
WestJet Airlines plans to launch a new cheaper fare category that would be available to travellers willing to fly without a carry-on bag.
Police say they have wrapped up their on-scene investigation into a deadly boat crash in eastern Ontario as details of the incident begin to emerge.
Plenty of people are wondering if Jennifer Lopez and Ben Affleck are having problems in their marriage, but one person had the nerve to ask in a public forum.
The U.S. Justice Department filed a sweeping antitrust lawsuit against Ticketmaster and parent company Live Nation Entertainment on Thursday, accusing them of running an illegal monopoly over live events in America -- squelching competition and driving up prices for fans.
Eating more ultraprocessed foods is linked to a higher risk of cognitive decline and stroke, even if a person is trying to adhere to a Mediterranean diet, the DASH diet or the MIND diet, a new study found.
Something shifted in the pretty little village of Lumby, B.C., after Tatjana Stefanski vanished.
When Jujhar Mann said he wanted to be a pastry chef on a grade school career project, he didn't imagine that pursuing his dream would land him on a popular Netflix baking competition.
A city known for its history, ties to outer space and southern barbecue, is also home to a Winnipeg chef dishing out dozens of perogies.
A Montreal photographer captured the moment a Canada goose defended itself from a fox at the Botanical Garden.
Public libraries in Atlantic Canada are now lending a broader range of items.
Flashes of purple darting across the sky mixed with the serenading sound of songs will be noticed more with spring in full force in Manitoba.
Catching 'em all with impressive speed, a 7-year-old boy from Windsor, Ont. who only started his competitive Pokémon journey seven months ago has already levelled up to compete at a world championship level.
A sanctuary dedicated to animals with disabilities is celebrating the third birthday of one of its most popular residents.
2b Theatre recently moved into the old Video Difference building, seeking to transform it into an artistic hub, meeting space, and temporary housing unit for visiting performers in Halifax.
A B.C. woman says her service dog pulled her from a lake moments before she had a seizure, saving her life.