Air quality advisories issued in 5 provinces, 1 territory
Air quality advisories are in effect across Western Canada as smoky conditions plague some areas, according to the latest forecasts. Here's where.
Canada's main stock index reached record highs on a broad rally led by the strength of the financial and energy sectors as the price of oil climbed past US$82 per barrel.
"Great day, on the heels of a great day yesterday," Allan Small, senior investment adviser at IA Private Wealth, said Friday.
"It looks like we're on a bit of a roll coming out of the September funk."
The S&P/TSX composite index closed up 108.16 points to 20,928.10 after reaching an intraday high of 20,969.36. The market climbed 2.5 per cent over the Thanksgiving holiday-shortened week for its best performance since early March.
The Toronto market is up 4.3 per cent so far in October and 20 per cent year-to-date.
In New York, the Dow Jones industrial average was up 382.20 points at 35,294.76. The S&P 500 index was up 33.11 points at 4,471.37, while the Nasdaq composite was up 73.91 points at 14,897.34.
The three main sectors on the TSX were "on fire" for much of the day, Small said, as the heavyweight financials sectors led, oil prices pushed energy up despite a drop in natural gas prices, and copper helped materials even though gold fell.
Financials gained nearly per cent with the Toronto-Dominion Bank up 1.8 per cent and Bank of Montreal 1.5 per cent higher as the banks moved up in sympathy with the U.S. banks that have reported strong quarterly results.
Positive signs from U.S. banks, such as improving loan loss provisions, may be echoed when Canadian banks report results next month.
"So just a general good feeling in the markets right now," Small said in an interview, adding that economic data such as U.S. retail sales were above analyst expectations.
He said there's a general sense that supply chain and COVID-19 constraints are getting better and inflation should start to abate a little bit.
"If that is true, then we could see higher markets moving forward."
Energy increased as crude oil prices continued to march higher, helping to boost MEG Energy Corp. climb 2.1 per cent and Canadian Natural Resources Ltd. gain 1.9 per cent.
The November crude contract was up 97 cents at US$82.28 per barrel and the November natural gas contract was down 27.7 cents at US$5.41 per mmBTU.
The Canadian dollar traded for 80.78 cents US compared with 80.83 cents US on Thursday.
Materials was slightly higher with First Quantum Minerals Ltd. up eight per cent.
The December gold contract was down US$29.60 at US$1,768.30 an ounce and the December copper contract was up 9.8 cents at US$4.73 a pound.
Technology was one of seven sectors that gained on the day as shares of Hut 8 Mining Inc. surged 15.4 per cent as the digital currency miner benefited from the price of Bitcoin moving above US$60,000.
Small said Bitcoin has climbed on reports that the U.S. may soon offer a Bitcoin or cryptocurrency ETF that is already available in Canada.
He said markets posted great ends to another volatile week.
"And in my opinion, I think volatility continues. But I think we are higher come Dec. 31 than we are today. It's just going to be a bit choppy getting there, but I think we can still move higher before year-end."
This report by The Canadian Press was first published Oct. 15, 2021.
Air quality advisories are in effect across Western Canada as smoky conditions plague some areas, according to the latest forecasts. Here's where.
Many foods fall under the category of ultraprocessed foods, depending on their exact ingredients. This type of food has been studied a lot lately, and the results aren’t great.
Hollywood actor Steve Buscemi has been treated for injuries after being punched in the face while walking in New York City.
Four years on, the controversy over whether airlines owed refunds to passengers after cancelling hundreds of thousands of flights during the pandemic continues to simmer, aggravated by a sluggish, opaque complaints process.
For her latest column on CTVNews.ca, royal commentator Afua Hagan writes about Prince Harry and Meghan Markle's recent visit to Nigeria, calling it a 'deeply meaningful campaign' that was about aligning their ongoing efforts to foster mental-health awareness and promoting the Invictus Games.
Ontario will need 33,200 more nurses and 50,853 more personal support workers by 2032, the government projects — figures it tried to keep secret but were obtained by The Canadian Press.
Whether you were lucky to nab tickets to one of Taylor Swift's six sold-out Toronto concerts in November or not, a new 'fan experience' hopes to get you into the party spirit.
After receiving a DNA kit one Christmas from his son-in-law, Hugh McCormick soon discovered that he had six unknown siblings, with whom he shared the same birth parents.
The star prosecution witness in Donald Trump's hush money trial is set to take the stand Monday with testimony that could help shape the outcome of the first criminal case against an American president.
Two daughters and a mother were reunited online 40 years later thanks to a DNA kit and a Zoom connection despite living on three separate continents and speaking different languages.
Mother's Day can be a difficult occasion for those who have lost or are estranged from their mom.
YES Theatre Young Company opened its acclaimed kids’ show, One Small Step, at Sudbury Theatre Centre on Saturday.
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.'