Parents of infant who died in wrong-way crash on Ontario's Hwy. 401 were in same vehicle
Ontario’s Special Investigations Unit has released new details about a wrong-way collision in Whitby on Monday night that claimed the lives of four people.
North American stock markets ended multi-day losing streaks Thursday by bouncing back from steep morning losses prompted by Russian military action in Ukraine, while gold and crude oil prices softened from early highs.
The turnaround came as U.S. President Joe Biden announced new sanctions that fell short of what some had suggested.
Les Stelmach, portfolio manager at Franklin Templeton Canada, said it usually takes some time for people to digest the true impact of sanctions.
“In the absence of information, usually the market early on you assume the worst and maybe that's what happened this morning. And as things become a little clearer or information comes out during the course of the day, the expectation's maybe it's not as much of a hit as it was originally thought.”
The S&P/TSX composite index closed up 17.76 points at 20,761.93 after shedding more than 300 points or 1.7 per cent of its value in early trading.
U.S. markets were whipsawed even further with the Dow Jones industrial average swinging nearly 1,000 points on the day and closed up 92.07 points at 33,223.83. The S&P 500 index gained 63.20 points at 4,288.70 after losing as much as 2.6 per cent, while the Nasdaq composite surged 436.10 points or 3.3 per cent at 13,473.59 after being down 3.4 per cent.
Technology was the leading sector on the TSX, climbing four per cent as Hut 8 Mining Corp. gained 6.7 per cent and Shopify Inc. was 6.4 per cent higher.
U.S. tech stock also had a good day as investors appeared to buying the recent dip in share prices.
Health care, industrials and utilities were among seven sectors gaining ground. Utilities was pushed higher by share increases for renewable energy producers Boralex Inc., Innergex Renewable Energy Inc. and Brookfield Renewable Partners LP in response to concerns about high energy prices.
Energy increases as crude oil and natural gas prices climbed but the gains were down from the morning. Shares of Tourmaline Oil Corp. and Vermillion Energy Inc. increased 3.2 and 3.1 per cent, respectively.
The April crude contract was up 71 cents at US$92.81 per barrel after briefly cresting the US$100 mark for the first time since 2014, and the April natural gas contract was up 4.8 cents at US$4.64 per mmBTU.
The Canadian dollar traded for 77.93 cents US compared with 78.63 cents US on Wednesday.
Financials was the biggest laggard, losing 1.5 per cent as Canada's largest banks fell. CIBC shares decreased 3.4 per cent while Royal Bank was down 2.1 per cent despite announcing improved quarterly results.
The bank softness could come from worries that central banks may somewhat pause its plans to raise interest rates next month because of the potential economic impact of the war in eastern Europe, said Stelmach.
“The banks, lifecos would be better positioned I think in the event of rising rates, so if people are maybe taking a second thought about the pace of interest rate increases, that could be explaining why the banks are down both in Canada and the U.S. today.”
The materials sector was also down despite higher gold prices.
The April gold contract was up US$15.90 at US$1,926.3 an ounce after going as high as $1,976.50, and the May copper contract was down 2.8 cents at US$4.46 a pound.
This report by The Canadian Press was first published Feb. 24, 2022.
- With files from The Associated Press.
Ontario’s Special Investigations Unit has released new details about a wrong-way collision in Whitby on Monday night that claimed the lives of four people.
Three men in Quebec from the same family have fathered more than 600 children.
A British Columbia mayor has been censured by city council – stripping him of his travel and lobbying budgets and removing him from city committees – for allegedly distributing a book that questions the history of Indigenous residential schools in Canada.
A spike in impaired driving-related collisions has caused Ontario’s provincial police to begin enforcing mandatory alcohol screening (MAS) at all traffic stops in the Greater Toronto Area -- a move one civil rights group says is ‘not acceptable.’
William Nylander scored twice and Joseph Woll made 22 saves as the Toronto Maple Leafs downed the Boston Bruins 2-1 on Thursday to force Game 7 in their first-round series.
Jurors in the hush money trial of Donald Trump heard a recording Thursday of him discussing with his then-lawyer and personal fixer a plan to purchase the silence of a Playboy model who has said she had an affair with the former president.
Staff at a small southern Alberta office supply store were shocked to find someone had broken into the business last week, but they were even more confused when they discovered the culprit was a bear.
A federal judge on Thursday sentenced a scuba dive boat captain to four years in custody and three years supervised release for criminal negligence after 34 people died in a fire aboard the vessel.
Fake text message and email campaigns trying to get money and information out of unsuspecting Canadian taxpayers have started circulating, just months after the federal government rebranded the carbon tax rebate the Canada Carbon Rebate.
Three men in Quebec from the same family have fathered more than 600 children.
A group of SaskPower workers recently received special recognition at the legislature – for their efforts in repairing one of Saskatchewan's largest power plants after it was knocked offline for months following a serious flood last summer.
A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.
The lawyer for a residential school survivor leading a proposed class-action defamation lawsuit against the Catholic Church over residential schools says the court action is a last resort.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.