Quebec nurse had to clean up after husband's death in Montreal hospital
On a night she should have been mourning, a nurse from Quebec's Laurentians region says she was forced to clean up her husband after he died at a hospital in Montreal.
Canada's main stock index ticked lower Thursday amid broad-based weakness, while U.S. markets moved higher, led by the technology sector.
“It's definitely a quieter market today,” said Greg Taylor, chief investment officer at Purpose Investments.
The Bank of Canada raised its key interest rate Wednesday to 4.75 per cent after several months of holding it, in the latest move by the central bank to fight inflation.
“I think a lot of people are just digesting the moves we got yesterday,” Taylor said.
The S&P/TSX composite index was down 40.99 points at 19,942.70.
In New York, the Dow Jones industrial average was up 168.59 points at 33,833.61. The S&P 500 index was up 26.41 points at 4,293.93, while the Nasdaq composite was up 133.63 points at 13,238.52.
Markets in the U.S. are anticipating inflation data in the U.S. next week followed by the Federal Reserve's own rate announcement, said Taylor.
At this point, markets seem to expect a pause from the Fed next week, said Taylor. But the real question is whether it's a pause or simply a skip before further hikes.
The market is saying skip, said Taylor, but the inflation release before the bank's decision could change everything.
“I think what this does, though, is cause a lot of uncertainty. And in general, markets don't like uncertainty,” he said.
“It does feel again like the market's kind of trapped in this zone.”
The bond market is still eyeing rate cuts near the end of the year, noted Taylor, which he said is “too aggressive.”
U.S. markets saw somewhat of a reversal Thursday as tech gained back its losses, said Taylor, likely in part due to some weaker employment data. U.S. applications for unemployment benefits rose last week to their highest level since October 2021, though the labour market is still healthy.
However, he said tech's rally appears to be slowing overall, which could be positive for the other sectors.
“For the markets to be healthy, you need a broad-based rally,” he said.
The Canadian dollar traded for 74.86 cents UScompared with 74.76 cents US on Wednesday.
The July crude contract was down US$1.24 cents at US$71.29 per barrel and the July natural gas contract was up two cents at US$2.35 per mmBTU.
The August gold contract was up US$20.20 at US$1,978.60 an ounceand the July copper contract was up four cents at US$3.80 a pound.
- With files from The Associated Press
This report by The Canadian Press was first published June 8, 2023.
On a night she should have been mourning, a nurse from Quebec's Laurentians region says she was forced to clean up her husband after he died at a hospital in Montreal.
Cuba's foreign affairs minister has apologized to a Montreal-area family after they were sent the wrong body following the death of a loved one.
The federal government's proposed change to capital gains taxation is expected to increase taxes on investments and mainly affect wealthy Canadians and businesses. Here's what you need to know about the move.
Prime Minister Justin Trudeau is accusing Conservative Leader Pierre Poilievre of welcoming 'the support of conspiracy theorists and extremists,' after the Conservative leader was photographed meeting with protesters, which his office has defended.
A North Bay, Ont., lawyer who abandoned 15 clients – many of them child protection cases – has lost his licence to practise law.
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
Boeing said Wednesday that it lost US$355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers.
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
It's no secret that spring can be a tumultuous time for Canadian weather, and as an unseasonably mild El Nino winter gives way to summer, there's bound to be a few swings in temperature that seem out of the ordinary. From Ontario to the Atlantic, though, this week is about to feel a little erratic.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
The federal government says its plan to increase taxes on capital gains is aimed at wealthy Canadians to achieve “tax fairness.”
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.
Kevin the cat has been reunited with his family after enduring a harrowing three-day ordeal while lost at Toronto Pearson International Airport earlier this week.