Cyclist issued fine for striking four-year-old girl crossing the street
A cyclist turned herself in and received a fine after striking a four-year-old girl who was crossing the street to catch a school bus.
North American stock markets inched higher Tuesday after U.S. Federal Reserve officials appeared to tone down some of their comments that prompted last week's slide.
First, Federal Reserve of New York president John Williams reaffirmed that interest rate increases are still a ways off in the future.
That "alleviated fears of an earlier-than-expected withdrawal of policy support after last week's hawkish-leaning message from the Fed," said Candice Bangsund, portfolio manager for Fiera Capital.
Investor optimism revived somewhat ahead of congressional testimony from Fed chairman Jerome Powell where he was "widely expected to walk back on some of the hawkish undertones from last week's policy gathering."
"Indeed, his prepared remarks were released last night, where he downplayed the near-term spike in inflation and attributed the latest increase in pricing pressures to transitory factors that should fade over time," she wrote in an email.
Investors are struggling to interpret Fed comments.
Last week, it signalled that interest rates would increase sooner than previously indicated to twice in 2023. A Fed member later suggested the increases could start next year.
Powell told the House select subcommittee on coronavirus crisis that he expects recent increases in inflation will subside soon.
He said Fed had formally begun discussing when and how the central bank might reduce the current US$120 billion a month of Treasuries and mortgage-backed bonds that the Fed is purchasing each month. Those purchases are intended to keep longer-term interest rates lower to encourage more borrowing and spending.
The S&P/TSX composite index closed up 44.29 points to 20,200.65.
In New York, the Dow Jones industrial average was up 68.61 points at 33,945.58. The S&P 500 index was up 21.65 points to 4,246.44, while the Nasdaq composite was up 111.79 points to 14,253.27.
The tech-heavy Nasdaq set a new record while the sector led Canada's main stock index.
It rose 1.3 per cent as BlackBerry Ltd. climbed 4.6 per cent and Shopify Inc. was 1.5 per cent higher.
Consumer sectors also increased as shares of Canada Goose Holdings Inc. gained 6.7 per cent, while materials rose despite lower gold prices.
Lundin Mining Corp. increased 3.9 per cent while First Quantum Minerals Ltd. was up 3.7 per cent.
The August gold contract was down US$5.50 at US$1,777.40 an ounce and the July copper contract was up 4.6 cents at US$4.23 a pound.
Energy was one of three sectors to lose ground, falling as crude oil prices dipped on reports that OPEC and its allies are contemplating increasing production at its meeting next week.
The August crude oil contract lost 27 cents from its 2 1/2-year high to US$72.85 per barrel and the July natural gas contract was up 6.7 cents at US$3.26 per mmBTU.
Shares of Cenovus Energy Inc. and Whitecap Resources Inc. were down 1.9 and 1.7 per cent, respectively.
The Canadian market underperformed its U.S. counterparts as "energy stocks retreated and weighed more heavily on the resource-levered S&P/TSX," Bangsund added.
The Canadian dollar traded for 80.93 cents US compared with 80.80 cents US on Monday.
This report by The Canadian Press was first published June 22, 2021.
With files from The Associated Press.
A cyclist turned herself in and received a fine after striking a four-year-old girl who was crossing the street to catch a school bus.
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.
The Netherlands' contestant in the Eurovision Song Contest was dramatically expelled from competition hours before Saturday's final of the pan-continental pop competition, which has been rattled by protests over the participation of Israel.
Irresponsibly using a credit card can land you in financial trouble, but personal finance columnist Christopher Liew says when used properly, it can be a powerful wealth-building tool that can help grow your credit profile and create new opportunities.
A man who was accused of sexually and physically assaulting a woman had his charges dropped in April, just weeks before he was set to stand trial in Toronto, due to a lack of judges in the region.
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
A protest encampment set up on the University of Alberta campus was cleared early Saturday morning by Edmonton police.
An evacuation alert was issued for two Wood Buffalo communities Friday night, as crews battled an out-of-control wildfire near Fort McMurray.
A man has been transported to hospital after police say he was stabbed in a random attack carried out by a group of teens in Toronto on Friday night.
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.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.