Grandparent scam: London, Ont., senior beats fraudsters not once, but twice
It was a typical Tuesday for Mabel Beharrell, 84, until she got the call that would turn her world upside down. Her teenaged grandson was in trouble and needed her help.
Commodities propelled Canada's main stock index to its best day in two months, while the Federal Reserve signalled that interest rates will increase earlier than expected as the economic recovery continues.
The S&P/TSX composite index closed up 157.20 points to 20,401.49, after reaching an intraday high of 20,479.70.
In New York, the Dow Jones industrial average was up 338.48 points at 34,258.32. The S&P 500 index was up 41.45 points at 4,395.64, while the Nasdaq composite was up 150.45 points at 14,896.85.
The day started strongly after contagion fears from the potential insolvency of Chinese property developers eased as China's central bank injected cash into the banking system and heavily indebted Evergrande reached a deal with bondholders.
"Some people in the market are looking for reason to buy because we were down four, almost five per cent from the peak on the month," said Michael Currie, vice-president and investment adviser at TD Wealth.
Markets rose after the U.S. central bank said "moderation in the pace of asset purchases may soon be warranted" but failed to give a schedule.
It also projected interest rates would rise from near zero beginning late next year, three more times in 2023 and three times in 2024.
"We knew they were coming, it's just that it's a little bit earlier than expected," Currie said in an interview.
The initial market reaction subsided later in the session.
Nine of the 11 major sectors on the TSX rose with consumer staples and telecommunications marginally lower..
Energy led, gaining 3.9 per cent as crude oil prices rose on U.S. inventories tightening to the lowest level in three years following two hurricanes.
The November crude contract was up US$1.74 at US$72.23 per barrel and the October natural gas contract was unchanged at US$4.81 per mmBTU.
Cenovus Energy Inc. gained 7.4 per cent, while shares of Vermilion Energy Inc. were up 6.4 per cent.
The Canadian dollar traded for 78.39 cents US compared with 78.12 cents US on Tuesday.
Materials was pushed higher by First Quantum Minerals Ltd. rising 7.5 per cent and Teck Resources Ltd. increasing six per cent.
The December gold contract was up 60 cents at US$1,778.80 an ounce and the December copper contract was up 12.6 cents at US$4.25 a pound.
Health care was up two per cent with cannabis producers Canopy Growth Inc. and Tilray Inc. up 4.5 and 3.5 per cent, respectively.
Auto parts manufacturers Magna International Inc. and Linamar Corp. gained 4.1 and 2.5 per cent, respectively, helping the consumer discretionary sector to increase 1.4 per cent.
This report by The Canadian Press was first published Sept. 22, 2021.
It was a typical Tuesday for Mabel Beharrell, 84, until she got the call that would turn her world upside down. Her teenaged grandson was in trouble and needed her help.
The deaths of four people on a farm near the Saskatchewan village of Neudorf have been confirmed a murder-suicide.
The Canada Revenue Agency announced Thursday it will not require 'bare trust' reporting from Canadians that it introduced for the 2024 tax season, just four days before the April 2 deadline.
The Parole Board of Canada has granted full parole to one of three men convicted in the brutal murders of three McDonald's restaurant workers in Cape Breton more than 30 years ago.
Nearly 20 hours after a man climbed and remained perched on top of the Reconciliation Bridge in downtown Calgary, the situation came to a peaceful resolution.
Ontario released its annual sunshine list Thursday afternoon, noting that the largest year-over-year increases were in hospitals, municipalities, and post-secondary sectors.
Genetic analysis has shed light on a long-standing mystery surrounding the fates of U.S. President George Washington's younger brother Samuel and his kin.
A spokesman for a regional Muslim advocacy group says Conservative Leader Pierre Poilievre's stance on the Israel-Hamas war could complicate his party's relationship with Muslim Canadians.
Former U.S. President Donald Trump is officially selling a copy of the Bible themed to Lee Greenwood’s famous song, 'God Bless the USA.' But the concept of a Bible covered in the American flag has raised concern among religious circles.
B.C. conservation officers recently seized a nine-foot-long Burmese python from a home in Chilliwack.
A New Brunswicker will go to bed Thursday night much richer than he was Wednesday after collecting on a winning lottery ticket he let sit on his bedroom dresser for nearly a year.
The Ontario government is introducing changes to auto-insurance, but some experts say the move is ill-advised.
A Toronto restaurant introduced a surprising new rule that reduced the cost of a meal and raised the salaries of staff.
Newfoundland’s unique version of the Pine Marten has grown out of its threatened designation.
A Toronto man is out $12,000 after falling victim to a deepfake cryptocurrency scam that appeared to involve Prime Minister Justin Trudeau.
It started small with a little pop tab collection to simply raise some money for charity and help someone — but it didn’t take long for word to get out that 10-year-old Jace Weber from Mildmay, Ont. was quickly building up a large supply of aluminum pop tabs.
There’s a group of people in Saskatoon that proudly call themselves dumpster divers, and they’re turning the city’s trash into treasure.
Ontario is facing a larger than anticipated deficit but the Doug Ford government still plans to balance its books before the next provincial election.