NEW AI helping to identify undiagnosed genetic disorders in children
Researchers have developed the world's first algorithm powered by artificial intelligence to identify children with undiagnosed rare genetic disorders.
Canada's main stock index had its worst day in nearly a month and the loonie hit a seven-week low as investors continued to react to the U.S. Federal Reserve's commentary about interest rates increasing sooner than expected.
"After the Fed meeting yesterday the market did take a downturn ... and people had overnight to digest it and they're continuing on that track," said Michael Currie, vice-president and investment adviser at TD Wealth.
The S&P/TSX composite index closed down 86.92 points to 20,144.04 for its biggest decline since May 19.
In New York, the Dow Jones industrial average was down 210.22 points at 33,823.45. The S&P 500 index was down 1.84 points at 4,221.86, while the Nasdaq composite was up 121.67 points at 14,161.35.
Commodities took the biggest hits as lower prices and a stronger U.S. dollar hurt both the materials and energy sectors.
"People in those markets are perceiving that it was a hawkish statement by the Fed yesterday so we saw some pretty good and quick declines in both of those," he said in an interview.
In addition to moving up when it expects rates will rise, the U.S. central bank said Wednesday that it expects two quarter-point increases in 2023.
The bank's commentary pushed up the U.S. dollar and caused the Canadian dollar to lose one cent Thursday, falling to 81.03 cents US compared with 82.03 cents US on Wednesday.
Gold and copper prices both dropped, pushing Yamana Gold Inc. down 7.8 per cent as the materials sector was 3.9 per cent lower.
The August gold contract was down US$84.50 at US$1,776.90 an ounce, it's lowest settled price since May 4. The July copper contract was down 14 cents at US$4.24 a pound, a near two-month low.
Crude prices fell despite a drop in U.S. inventories last week to push energy off 4.4 per cent.
The July crude oil contract was down 75 cents at US$71.40 per barrel and the July natural gas contract was down four cents at US$3.21 per mmBTU.
Vermilion Energy Inc. and Crescent Point Energy Corp. were 6.3 and 5.9 per cent lower, respectively.
Technology had the strongest performance on the day, climbing 3.6 per cent as shares of Lightspeed POS Inc. gained 7.5 per cent, Shopify Inc. was up 7.2 per cent and BlackBerry Ltd. rose 5.3 per cent despite objections from some investors toward its executive compensation.
In gaining, Canada's tech sector mirrored movements by the tech-heavy Nasdaq as bond yields decreased.
"There's definitely some big bets being made and covered after yesterday's (Fed) meeting," said Currie, noting some rebalancing back to growth from value sectors that have been strong in 2021.
The reaction by investors depends if they have short- or long-term horizons, he said, noting that interest rates will be rising, but that won't happen for two years.
"Short-term it's not bad news but long-term the inevitable is coming."
This report by The Canadian Press was first published June 17, 2021.
Researchers have developed the world's first algorithm powered by artificial intelligence to identify children with undiagnosed rare genetic disorders.
Serial killer Robert Pickton will remain in a medically induced coma for at least the next few days following an attack in a Quebec prison Sunday, according to police spokesperson Hugues Beaulieu.
Charlie Colin, bassist and founding member of the American pop-rock band Train, best known for their early-aughts hits like 'Drops of Jupiter' and 'Meet Virginia,' has died. He was 58.
When serial killer Robert Pickton was transferred from British Columbia's Kent Institution to a maximum security prison in Quebec about six years ago, correctional authorities gave no public explanation or confirmation at the time, citing privacy.
A group of people from eastern Ontario and western Quebec is issuing a warning about Dennis Walker and his company Vue Windows.
When Chrissy Chin volunteered to take in a fancy pigeon abandoned on a park bench, she never imagined she would one day be ordering custom-made diapers for the bird – who lives in her house and has become a member of the family.
Police say they have wrapped up their on-scene investigation into a deadly boat crash in eastern Ontario as details of the incident begin to emerge.
WestJet Airlines plans to launch a new cheaper fare category that would be available to travellers willing to fly without a carry-on bag.
Five people died and at least 35 were hurt as powerful tornadoes ripped through Iowa Tuesday, with one carving a path of destruction through the town of Greenfield, officials said.
When Jujhar Mann said he wanted to be a pastry chef on a grade school career project, he didn't imagine that pursuing his dream would land him on a popular Netflix baking competition.
A city known for its history, ties to outer space and southern barbecue, is also home to a Winnipeg chef dishing out dozens of perogies.
A Montreal photographer captured the moment a Canada goose defended itself from a fox at the Botanical Garden.
Public libraries in Atlantic Canada are now lending a broader range of items.
Flashes of purple darting across the sky mixed with the serenading sound of songs will be noticed more with spring in full force in Manitoba.
Catching 'em all with impressive speed, a 7-year-old boy from Windsor, Ont. who only started his competitive Pokémon journey seven months ago has already levelled up to compete at a world championship level.
A sanctuary dedicated to animals with disabilities is celebrating the third birthday of one of its most popular residents.
2b Theatre recently moved into the old Video Difference building, seeking to transform it into an artistic hub, meeting space, and temporary housing unit for visiting performers in Halifax.
A B.C. woman says her service dog pulled her from a lake moments before she had a seizure, saving her life.