From outer space? Sask. farmers baffled after discovering strange wreckage in field
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
Canada's main stock index ticked upwards Monday, with broad-based gains led by battery metals and energy stock as U.S. markets were closed for a long weekend south of the border.
The S&P/TSX composite index closed up 47.64 points at 19,967.95. The gains came with U.S. stock markets closed for the Memorial Day holiday.
Canadian markets typically take their direction from U.S. markets, so absent major news for investors to react to, it was a quiet day on the TSX, said Lesley Marks, chief investment officer of equity at Mackenzie Investments.
However, on Tuesday U.S. investors will have a tentative debt-ceiling deal to retroactively react to after weeks of negotiations. On the weekend, President Joe Biden and House Speaker Kevin McCarthy struck an agreement to avoid a government default.
"Markets were positive heading into the weekend," noted Marks, on rumours that a deal was closed, though she thinks that the achievement of a deal was to be expected. While the deal still has legislative hurdles to clear, she said investors are likely relieved to move on from the uncertainty the debt-ceiling talks brought to the markets, distracting from other important themes.
The big question mark hanging over markets is still whether the Federal Reserve will hike or pause interest rates at its mid-June meeting, said Marks.
Market expectations have bifurcated as to what the central bank will do, she said -- while chairman Jerome Powell has indicated that a pause could be coming if the data supports it, some of the more recent economic data releases have made investors uncertain as to whether the bank will take that route.
Meanwhile, continued resiliency in the economy, especially in the labour market, has market expectations of rate cuts in 2023 dwindling, said Marks.
"The likelihood of a cut this year has all but vanished," she said.
If the central bank does raise rates again, it puts the Bank of Canada in a tough spot, as it's problematic for its monetary policy to significantly diverge from that of its southern neighbour, said Marks.
This week will bring fresh GDP data for Canada to help the central bank make its own June decision, while the U.S. will get the latest numbers on job openings.
The Canadian dollar traded for 73.57 cents US compared with 73.41 cents US on Friday.
The July crude contract was up 37 cents at US$73.04 per barrel as of late afternoon on Monday, and the July natural gas contract was down six cents at US$2.36 per mmBTU (million British thermal unit).
The August gold contract was down US$1.90 at US$1,961.20 an ounce and the July copper contract was down a penny at US$3.67 a pound.
This report by The Canadian Press was first published May 29, 2023.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
The National Post is reporting that Rex Murphy, the pundit and columnist who hosted a national call-in radio show for decades, has died.
Another suspect is in custody in connection with the gold heist at Toronto Pearson International Airport last year, police say.
Careful attention to government statements and legislation is required to get a handle on the level of risk British Columbians’ information is under, as investigators probe multiple breaches under a continued barrage of attacks.
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
A Conservative government led by Pierre Poilievre would not legislate on, nor use the notwithstanding clause, on abortion, his office says, as anti-abortion protesters gather on Parliament Hill.
Hailey and Justin Bieber are going to be parents. The couple announced the news on Thursday on Instagram, both sharing a video that showcases Hailey Bieber's growing belly.
Studies have shown that ultraprocessed foods can have a detrimental impact on health. But 30 years of research show they don’t all have the same impact.
The Oscar-winning team behind the nearly US$6 billion blockbuster 'Lord of the Rings' and 'The Hobbit' trilogies is reuniting to produce two new films.
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.
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.
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.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.