'He's in our hearts': Family and friends still seek answers one year after Nathan Wise’s disappearance
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
Canada's main stock index ended a roller-coaster week by posting its best day in nearly three weeks, helped higher by a broad-based rally led by the technology sector.
The S&P/TSX composite index closed Friday up 197.64 points to 20,741.75 after falling more than 100 points in early trading.
The stock market endured large swings all week following commentary from central banks, earnings results and economic data.
"We're seeing a lot of mixed signals and a lot of mixed trends, and I think a lot of people aren't quite sure what to make of it all," said Colin Cieszynski, chief market strategist at SIA Wealth Management.
Earnings results have been mixed with some companies like Apple Inc. being rewarded after posting record results, while others like Caterpillar and Canadian Pacific Railway Ltd. being punished for missing expectations.
"It's almost bipolar, where some things are doing quite nicely and now some things are starting to do really poorly," he said in an interview.
"It's by no means a boring or quiet day. I think under underneath the hood, there's a lot of things simmering away."
In New York, the Dow Jones industrial average was up 564.69 points at 34,725.47. The S&P 500 index was up 105.34 points at 4,431.85, while the Nasdaq composite was up 417.79 points or 3.1 per cent at 13,770.57.
Markets ended the week flat to slightly higher, but are heading for steep losses in January. The TSX is down 2.3 per cent so far in 2022, the Dow is off 4.4 per cent and the S&P 500 is seven per cent lower. Nasdaq remains in correction territory, down 12 per cent.
The materials group was the only major sector to be down on Friday, losing ground on weaker metal and forest product prices in the face of a higher U.S. dollar.
The April gold contract was down US$8.40 at US$1,786.60 an ounce and the March copper contract was down 11.4 cents at US$4.31 a pound.
Technology was the big winner, surging 4.3 per cent and following the trend of the U.S. sector, with Hut 8 Mining Corp. up 8.0 per cent and Shopify Inc. increasing 7.1 per cent.
"Apple is probably helping and tech is probably one of the sectors that's most oversold right now. as bad as the overall market has been," Cieszynski said.
The sector was also helped by bond yields, which dipped despite remaining relatively high.
"The Treasury yields backing off definitely help, especially for more richly valued sectors like tech."
Energy also climbed as crude prices rose to end higher for a sixth straight week. Arc Resources Ltd. increased 6.9 per cent.
The March crude contract was up 21 cents US at US$86.82 per barrel and the March natural gas contract was up 35.6 cents at US$4.64 per mmBTU.
The Canadian dollar traded for 78.30 cents US compared with 78.67 cents US on Thursday.
Cieszynski said many investors were surprised this week by the Fed's hawkish tone in not limiting the number of interest rate hikes this year. That left some observers to suggest up to seven U.S. rate hikes in 2022. That would mean one every meeting for the rest of the year instead of the historical move of once per quarter.
"So I just think that this was kind of almost the capitulation, the last of the people who thought, well, maybe they'll try and drag their feet and stall some more, have finally given up."
This report by The Canadian Press was first published Jan. 28, 2022.
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
Amazon's paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.
The fire burning near Fort McMurray grew from 25 hectares to 5,500 hectares over the weekend.
Russia’s President Vladimir Putin began a Cabinet shakeup on Sunday, proposing the replacement of Sergei Shoigu as defence minister as he begins his fifth term in office.
Police are searching for a male suspect after a man was “slashed in neck” on Sunday morning in downtown Toronto and died.
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
Health Canada announced various product recalls this week, including electric adapters, armchairs, cannabis edibles and vehicle components.
English, history, entertainment, math and geography: high school trivia teams could be quizzed on any of it when they compete at the Reach for the Top Nationals in Ottawa in June.
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.'
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.