Video shows suspect setting Toronto-area barbershop on fire
Video of a suspect lighting a Richmond Hill barbershop on fire earlier this week has been released by police.
North American stock markets fell Tuesday even though weaker U.S. inflation numbers could delay Federal Reserve action to taper stimulus.
Craig Jerusalim, portfolio manager at CIBC Asset Management, said markets were "taking a breather" with no obvious catalyst to drive them higher.
"When you have elevated valuations, markets often need good news to continue to go higher, so lack of good news is probably the main reason today," he said in an interview.
Consumer Price Index data was benign, coming in a tad better than expected and below the torrid pace of earlier months. Inflation rose 0.3 per cent month over month in August, shy of the 0.4 per cent consensus forecast.
Stripping out volatile food and energy, it was up 0.1 per cent, compared with the forecast for about 0.3 per cent. That's four per cent on an annualized basis, versus an expected 4.2 per cent.
Last month's inflation numbers were good for markets but not good enough to prompt a lift, Jerusalim said.
"This news does not settle the inflation debate quite yet, but it does give a little bit of a nod towards the transitory side of the debate. And it does take some pressure off the Fed to act and maybe pushes back the tapering decision to December instead of November."
The S&P/TSX composite index closed down 113.16 points to 20,553.25 for the largest drop in a month.
In New York, the Dow Jones industrial average was down 292.06 points at 34,577.57. The S&P 500 index was down 25.68 points at 4,443.05, while the Nasdaq composite was down 67.82 points at 15,037.76.
Energy was among eight sectors that decreased on the TSX.
It lost 1.3 per cent even though crude oil prices were flat and natural gas was higher.
The October crude contract was up one cent at US$70.46 per barrel and the October natural gas contract was up 2.9 cents at US$5.26 per mmBTU.
Cenovus Energy Corp. lost 2.9 per cent while Suncor Energy Inc. was nearly two per cent lower.
China released some crude from its strategic reserves, which likely offset the impact on prices from lingering disruptions caused by hurricane Ida and tropical storm Nicholas, which is battering the Gulf Coast.
The Canadian dollar traded for 78.98 cents US, unchanged from Monday.
Health care, telecommunications, industrials and technology were among the laggards.
Materials got a lift from gold prices and talk of sector acquisitions by Barrick Gold's CEO at the Denver Gold Show.
Teck Resources Ltd. rose 4.7 per cent after published reports suggested the company is exploring options for its $8-billion metallurgical coal unit, which Jerusalim suggested could be packaged with its other carbon intensive assets.
The December gold contract was up US$12.70 at US$1,807.10 an ounce and the December copper contract was down 4.6 cents at US$4.32 a pound.
"Gold can work during periods of inflation, periods of deflation or periods of excess risk, and so right now it's a combination of gold being ... an underperformer and also the heightened risk of a policy misstep by the Fed."
This report by The Canadian Press was first published Sept. 14, 2021.
Video of a suspect lighting a Richmond Hill barbershop on fire earlier this week has been released by police.
The adorable trio of child actors from the 1993 classic comedy 'Mrs. Doubtfire,' which starred the late and great Robin Williams, are all grown up and looking back on their seminal time together.
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
York Regional Police say they are continuing to search for a suspect in an auto theft investigation who was captured on video running over a police officer in Toronto last month.
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
Quebec Premier François Legault reiterated that the pro-Palestinian encampment at McGill University must be dismantled while police remain 'on the lookout for new developments.'
A Chinese truck driver was praised in local media Saturday for parking his vehicle across a highway and preventing more cars from tumbling down a slope after a section of the road in the country's mountainous south collapsed and killed at least 48 people.
A New Brunswick woman suffering from sarcoidosis, a disease that limits your lung capacity, is in need of a double lung transplant.
Crucial witnesses took the stand in the second week of testimony in Donald Trump's hush money trial, including a California lawyer who negotiated deals at the center of the case and a longtime adviser to the former president.
Alberta Ballet's double-bill production of 'Der Wolf' and 'The Rite of Spring' marks not only its final show of the season, but the last production for twin sisters Alexandra and Jennifer Gibson.
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.
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.