B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
Canada's main stock index increased for a fifth-straight day to a near three-week high on a broad rally that also swept U.S. markets higher.
"I think what we're seeing here is markets were getting pretty oversold by the latter part of last week and even the early part of this week and we're getting a bit of a trading bounce here," said Colin Cieszynski, chief market strategist at SIA Wealth Management
The tech sector that was most depressed in recent weeks saw a recovery. The sector also got a lift in Canada, gaining 1.9 per cent with Lightspeed Commerce Inc. up 10.7 per cent and Shopify Inc. increasing 5.2 per cent.
"It was only a few days ago people were talking about how badly Shopify was getting crushed, really getting dragged down by the whole U.S. tech sector and weak sentiment towards internet stocks," he said in an interview.
The overall TSX bounce Thursday was weaker than south of the border because the selloff was weaker.
The S&P/TSX composite index closed up 148.43 points to 20,532.18.
In New York, the Dow Jones industrial average was up 516.91 points at 32,637.19. The S&P 500 index was up 79.11 points at 4,057.84, while the Nasdaq composite was up 305.91 points or 2.7 per cent at 11,740.65.
Cieszynski added that there could be some wishful thinking by investors that the Federal Reserve might take a break from raising interest rates since no one knows how inflation will progress through the summer.
"So if anything it's an excuse for a bounce," he said.
The minutes from the May 3-4 meetings saw Fed members agree that 50 basis point increases "would likely be appropriate at the next couple of meetings" to address hot inflation.
He also doesn't think positive days signal that markets have reached a bottom, especially since central banks haven't yet been able to get inflation under control. The current period is also one of the weaker months of the year for stock markets.
"So we could get a trading bounce in the short-term, but there's still the potential for a roller-coaster ride from here for several months."
Eight of the 11 major sectors on the TSX were higher, led by health care, technology, consumer discretionary, industrials and financials.
Health care rose 3.7 per cent with cannabis producer Canopy Growth Corp. up 10.6 per cent.
Air Canada shares climbed 3.9 per cent to help push industrials higher. The heavyweight financials sector increased following positive quarterly results from two of three banks reporting Thursday. TD shares were up 1.6 per cent, but Royal Bank was flat and CIBC dropped two per cent.
Cieszynski said the second day of bank earnings were a "mixed bag" but overall pretty positive.
"The two big take-aways for me were most banks raised dividends, the results generally were better than expected and core banking was driving it while capital markets were soft. And soft capital markets is to be expected given the state of the stock market this year."
Energy rose as crude prices continued to march higher, which is great for producers. Enerplus Corp. was up 2.6 per cent.
The July crude contract was up US$3.76 at US$114.09 per barrel and the July natural gas contract was up 10 cents at US$8.90 per mmBTU.
The Canadian dollar traded for 78.17 cents US compared with 77.90 cents US on Wednesday.
Materials was the biggest laggard on the day, falling seven tenths of a per cent despite higher metals prices.
The June gold contract was up US$1.30 at US$1,847.60 an ounce and the July copper contract was up slightly to US$4.26 a pound.
This report by The Canadian Press was first published May 26, 2022.
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment which has been banned at Queen’s Park.
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
As Donald Trump was running for president in 2016, his old friend at the National Enquirer was scooping up potentially damaging stories about the candidate and paying out tens of thousands of dollars to keep them from the public eye.
After Prime Minister Justin Trudeau said the federal government would still send Canada Carbon Rebate cheques to Saskatchewan residents, despite Saskatchewan Premier Scott Moe's decision to stop collecting the carbon tax on natural gas or home heating, questions were raised about whether other provinces would follow suit. CTV News reached out across the country and here's what we found out.
A Montreal actress, who has previously detailed incidents she had with disgraced Hollywood producer Harvey Weinstein, says a New York Court of Appeals decision overturning his 2020 rape conviction is 'discouraging' but not surprising.
Caleb Williams is heading to the Windy City, aiming to become the franchise quarterback Chicago has sought for decades.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
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.