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.
Stocks closed higher on Wall Street Monday following seven weeks of declines that nearly ended the bull market that began in March 2020. The S&P 500 rose 1.9%, the Dow Jones Industrial Average rose 2% and the Nasdaq rose 1.6%. Banks and technology stocks made some of the strongest gains. Concerns about inflation have been weighing on the market and have kept major indexes in a slump recently. The S&P 500 is coming off its longest weekly losing streak since the dot-com bubble was deflating in 2001. The yield on the 10-year Treasury, which helps set mortgage rates, rose to 2.86%.
THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.
NEW YORK (AP) -- Stocks rallied in afternoon trading on Wall Street Monday following seven weeks of declines that nearly ended the bull market that began in March 2020.
The S&P 500 rose 1.8% as of 3:12 p.m. Eastern. The Dow Jones Industrial Average rose 588 points, or 1.9%, to 31,850 and the Nasdaq rose 1.3%.
Banks made strong gains along with rising bond yields, which they rely on to charge more lucrative interest on loans. The yield on the 10-year Treasury rose to 2.86% from 2.77% late Friday. Bank of America rose 6.3%.
Technology stocks also did some heavy lifting. Apple rose 3.4% and Microsoft rose 2.7%. The sector has been choppy over the last few weeks and has prompted many of the market's recent big swings.
VMware surged 20.8% following a report that chipmaker Broadcom is offering to buy the cloud-computing company. JPMorgan Chase jumped 6.9% after giving investors an encouraging update on its financial forecasts.
Retailers and some other companies that rely on direct consumer spending lagged the rest of the market. Amazon fell 0.7%. A series of disappointing earnings reports from key retailers last week raised concerns that consumers are tempering spending on a wide range of goods as they get squeezed by rising inflation.
Lingering concerns about inflation have been weighing on the market and have kept major indexes in a slump. The benchmark S&P 500 is coming off its longest weekly losing streak since the dot-com bubble was deflating in 2001. It came close to falling 20% from its peak earlier this year, which would put the index at the heart of most workers' 401(k) accounts into a bear market.
Inflation's impact on consumers and businesses has been the key worry for markets, along with the Federal Reserve's attempt to temper that impact by aggressively raising interest rates. Inflation brought on by a big supply and demand disconnect has worsened because of Russia's invasion of Ukraine and its impact on energy prices. Supply chains were further hurt by China's recent series of lockdowns for several major cities facing rising COVID-19 cases.
Investors are worried that the central bank could go too far in raising rates or move too quickly, which could stunt economic growth and potentially bring on a recession. On Wednesday, investors will get a more detailed glimpse into the Fed's decision-making process with the release of minutes from the latest policy setting meeting.
Wall Street will also get a few economic updates this week from the Commerce Department. On Thursday it will release a report on first-quarter gross domestic product and on Friday it will release data on personal income and spending for April.
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.