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.
North American stock markets inched higher Tuesday after U.S. Federal Reserve officials appeared to tone down some of their comments that prompted last week's slide.
First, Federal Reserve of New York president John Williams reaffirmed that interest rate increases are still a ways off in the future.
That "alleviated fears of an earlier-than-expected withdrawal of policy support after last week's hawkish-leaning message from the Fed," said Candice Bangsund, portfolio manager for Fiera Capital.
Investor optimism revived somewhat ahead of congressional testimony from Fed chairman Jerome Powell where he was "widely expected to walk back on some of the hawkish undertones from last week's policy gathering."
"Indeed, his prepared remarks were released last night, where he downplayed the near-term spike in inflation and attributed the latest increase in pricing pressures to transitory factors that should fade over time," she wrote in an email.
Investors are struggling to interpret Fed comments.
Last week, it signalled that interest rates would increase sooner than previously indicated to twice in 2023. A Fed member later suggested the increases could start next year.
Powell told the House select subcommittee on coronavirus crisis that he expects recent increases in inflation will subside soon.
He said Fed had formally begun discussing when and how the central bank might reduce the current US$120 billion a month of Treasuries and mortgage-backed bonds that the Fed is purchasing each month. Those purchases are intended to keep longer-term interest rates lower to encourage more borrowing and spending.
The S&P/TSX composite index closed up 44.29 points to 20,200.65.
In New York, the Dow Jones industrial average was up 68.61 points at 33,945.58. The S&P 500 index was up 21.65 points to 4,246.44, while the Nasdaq composite was up 111.79 points to 14,253.27.
The tech-heavy Nasdaq set a new record while the sector led Canada's main stock index.
It rose 1.3 per cent as BlackBerry Ltd. climbed 4.6 per cent and Shopify Inc. was 1.5 per cent higher.
Consumer sectors also increased as shares of Canada Goose Holdings Inc. gained 6.7 per cent, while materials rose despite lower gold prices.
Lundin Mining Corp. increased 3.9 per cent while First Quantum Minerals Ltd. was up 3.7 per cent.
The August gold contract was down US$5.50 at US$1,777.40 an ounce and the July copper contract was up 4.6 cents at US$4.23 a pound.
Energy was one of three sectors to lose ground, falling as crude oil prices dipped on reports that OPEC and its allies are contemplating increasing production at its meeting next week.
The August crude oil contract lost 27 cents from its 2 1/2-year high to US$72.85 per barrel and the July natural gas contract was up 6.7 cents at US$3.26 per mmBTU.
Shares of Cenovus Energy Inc. and Whitecap Resources Inc. were down 1.9 and 1.7 per cent, respectively.
The Canadian market underperformed its U.S. counterparts as "energy stocks retreated and weighed more heavily on the resource-levered S&P/TSX," Bangsund added.
The Canadian dollar traded for 80.93 cents US compared with 80.80 cents US on Monday.
This report by The Canadian Press was first published June 22, 2021.
With files from The Associated Press.
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.