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    • S&P/TSX composite down in late-morning trading, U.S. stocks also lower

    A currency trader watches the screens showing the foreign exchange rates at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Nov. 28, 2022. (AP Photo/Ahn Young-joon) A currency trader watches the screens showing the foreign exchange rates at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Nov. 28, 2022. (AP Photo/Ahn Young-joon)
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    TORONTO -

    Canada's main stock index was down by more than 150 points or 0.8 per cent Monday, weighed down by losses in energy, financials, utilities and metals, while U.S. indexes tumbled by more than 1.5 per cent.

    The S&P/TSX composite index was down 163.28 points at 20,220.49.

    In New York, the Dow Jones industrial average was down 497.57 points, or 1.45 per cent, at 33,849.46. The S&P 500 index was down 62.18 points, or 1.54 per cent, at 3,963.94,while the Nasdaq composite was down 176.86 points, or 1.58 per cent, at 11,049.50.

    One of the big stories of the day is the continued concern over China's COVID-19 restrictions as cases rise, said Mike Archibald, vice-president and portfolio manager with AGF Investments Inc.

    "That's definitely taking a bit of a bite out of the risk appetite of the market," he said.

    This is leading to a higher U.S. dollar which is putting pressure on commodities, said Archibald.

    The December gold contract was down US$13.70 at US$1,740.30 an ounce and the March copper contract was down one and a half cents at US$3.62 a pound.

    More hawkish language from Fed speakers Monday, though unsurprising, helped bolster expectations that rates will be "higher for longer," he said.

    The Canadian dollar traded for 74.33 cents US comparedwith 74.76 cents US on Friday.

    Despite the concerns regarding China, oil was actually up Monday, noted Archibald -- but that's because it's recovering some losses after being hit hard overnight.

    The January crude contract was up 96 cents at US$77.24 per barrel and the January natural gas contract was down 13 cents at US$7.20 per mmBTU.

    Headlines speculating that OPEC plus is considering production cuts likely helped claw back some gains on oil during late-morning trading and into the afternoon, he said.

    However, energy stocks aren't seeing the same recovery, he said. The TSX energy index was down 1.65 per cent Monday.

    Throughout the year, energy stocks have performed better than oil prices, said Archibald, and the question remains of where they're going to meet: either energy stocks will soften or oil prices will go up again.

    This "battle going on in the marketplace" is going to break at some point, he said.

    "It just remains to be seen which way."

    Archibald said bank earnings this week will help give a sense of how the consumer is doing, while U.S. employment data released Friday will indicate the effects of rate hikes in November.

    There's "lots of information for the Fed to kind of chew on" going into the final rate decision of the year, he said.

    "I still continue to believe we're getting probably fairly close to the end of the hiking cycle."

    This report by The Canadian Press was first published Nov. 28, 2022.

    CTVNews.ca ÐÇ¿Õ´«Ã½

    Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    The province's public security minister said he was "shocked" Thursday amid reports that a body believed to be that of a 14-year-old boy was found this week near a Hells Angels hideout near Quebec City.

    Canada

    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    • Two people emerged unhurt after a float plane had a hard landing late Friday morning on Lake Temiskaming.

    • A field trip aimed at educating Toronto students about the plight of a northern Ontario First Nation ended with them taking part in a protest where pro-Palestinian slogans were shouted.

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    • Viewers of Jeopardy got a chance to test their knowledge of trivia about B.C.'s biggest city Wednesday night.

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    • They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

    Sports

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      Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), sources tell CTV News Ottawa.

    • The Winnipeg Jets have some huge holes to fill on both offence and defence this season.

    Autos

    • An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    • Video of a brazen daylight auto theft which shows a suspect running over a victim in a stolen luxury SUV has been released by police west of Toronto.

    Local Spotlight

    They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

    A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

    Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

    The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

    The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

    It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

    A Good Samaritan in New Brunswick has replaced a man's stolen bottle cart so he can continue to collect cans and bottles in his Moncton neighbourhood.

    David Krumholtz, known for roles like Bernard the Elf in The Santa Clause and physicist Isidor Rabi in Oppenheimer, has spent the latter part of his summer filming horror flick Altar in Winnipeg. He says Winnipeg is the most movie-savvy town he's ever been in.

    Edmontonians can count themselves lucky to ever see one tiger salamander, let alone the thousands one local woman says recently descended on her childhood home.

    • Thousands of protesters are expected to march into downtown Vancouver on Friday, demanding more action from their government to address the growing climate crisis.

    • Members of the only organized support group for the Vancouver Canucks are feeling slighted after losing their usual space at Rogers Arena.

    • There have been more reports of a Bitcoin extortion scam seeking to exploit viewers of "adult content" in B.C.'s Lower Mainland, according to the RCMP.

    • The Ford government is considering restricting Ontario municipalities from installing new bike lanes that would require the removal of lanes of traffic, a source confirms to CTV News Toronto.

    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • A field trip aimed at educating Toronto students about the plight of a northern Ontario First Nation ended with them taking part in a protest where pro-Palestinian slogans were shouted.

    • Defence counsel for accused murderer John-Christopher Arrizza argues he was in an “altered state of mind†due to days of drug and alcohol use, sleep deprivation and not eating, when he fatally stabbed a man at a Banff nightclub in 2022.

    • The Calgary Food Bank’s city-wide food drive reaches its 20-year milestone this Saturday.

    • Calgary pickleball players will soon have a dozen new courts to play on.

    • WATCH LIVE

      WATCH LIVE

      Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), sources tell CTV News Ottawa.

    • The Ottawa Police Service Arson Unit is seeking witnesses to a fire that happened early Friday morning in a two-storey commercial building in Little Italy.

    • Police say a man, 34, who was taken to hospital in critical condition after being shot Thursday night has died.

    • The Montreal couple from Mexico and their three children facing deportation have received a temporary residence permit.

    • The province's public security minister said he was "shocked" Thursday amid reports that a body believed to be that of a 14-year-old boy was found this week near a Hells Angels hideout near Quebec City.

    • A man who asserted his right to work in French has won his case before the Tribunal, invoking the new provisions of the province's French-language law (Bill 96) to that effect.

    • DEVELOPING

      DEVELOPING

      Edmonton police are warning about traffic disruptions on Friday near the headquarters of the Alberta Teachers' Association, where a protest against the inclusion of sexual orientation and gender identity in school curricula will be taking place.

    • Mounties say there was an increased police presence in the Emerald Hills area of Sherwood Park on Friday morning as officers searched for a man who is wanted by police.

    • A mother and daughter say they woke up to flames encroaching on their third-floor apartment near Commonwealth Stadium early Friday morning.

    • A Nova Scotia woman has applied for a medically assisted death, saying after years of battling to receive out-of-country surgery for an illness that causes 'indescribable' pain, she struggles to maintain the will to live.

    • The families of some students who will be using Nova Scotia’s school lunch program can now order their meals online.

    • Gas prices increased in all three Maritime provinces for the first time in more than a month.

    • The Winnipeg Police Service (WPS) has made an arrest following a fire that claimed the lives of two people.

    • Shamattawa RCMP are searching for a missing six-year-old boy who hasn’t been seen since Wednesday morning.

    • A Winnipeg pet rescue is putting out a warning to dog owners across the city about a possible parvovirus in the province.

    • Driving into the tunnels of Nutrien's Rocanville mine, the largest potash mine in the world by production volume, feels like driving down a lonely highway in the middle of the night.

    • A tornado in Langbank, Sask. on Wednesday was the third latest in the province on record, according to Environment and Climate Change Canada (ECCC).

    • The second-degree murder trial of Thomas Hamp is being adjourned until December so an expert witness central to the trial can testify.

    • Levels of hydrogen sulfide gas are being monitored after a leak in Brantford Collegiate Institute’s geothermal system.

    • Guelph resident, Susan Bard, is being remembered as a vibrant community advocate and volunteer who died doing what she loved – cycling.

    • Emergency services responded to a vehicle fire Friday morning in the area of Samuelson Street in Cambridge.

    • The second-degree murder trial of Thomas Hamp is being adjourned until December so an expert witness central to the trial can testify.

    • A 69-year-old woman from Outlook, Saskatchewan is dead and three people are injured after a truck and SUV collided on Highway 15 on Thursday.

    • A gym teacher at a private Christian school in Saskatoon has been charged. Terra MacEwan, 44, is charged with assault with a weapon. A Saskatoon mother who spoke with CTV News says her autistic son was MacEwan's victim.

    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Two people emerged unhurt after a float plane had a hard landing late Friday morning on Lake Temiskaming.

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    • The Elgin Community Health Hub, operated by the Thames Valley Family Health Team, is accepting new patients to a model where doctors are rarely seen.

    • Members of the 2SLGBTQ+ community and supportetrs greatly outnumbered the people attending a '1 Million March 4 Children' event along Central Avenue.

    • Today, the 71 year old is marking 50 years a paramedic. He said he never aspired to move into management or a desk job, he enjoys being on the road, helping patients too much.

    • Two men from Barrie have been charged after a deadly shooting at a park in Keswick on Wednesday.

    • Police are investigating after they say several firearms and other valuables were stolen from a home in Tiny Township.

    • A truck driver from Orillia is proof that saying yes to Encore can pay off in a big way.

    • Windsor police say a 25-year-old mother has been charged with the drowning death of her 5-year-old child in the family’s backyard pool.

    • On Thursday, just after 9:30 a.m., a man was found and taken to police headquarters, where he was released with conditions and a future court date.

    • The Municipality of Lakeshore is honouring long-serving members of the Lakeshore Fire Department.

    • In a rare move, the Greater Victoria School District Board of Education has been slapped with a ministerial order from the province requiring it to update a student safety plan – drawing concern around political posturing leading up to an election.

    • Getting a bed at one of British Columbia's drug detoxification facilities is like winning the lottery, the vice-president on the Nuu-chah-nulth Tribal Council says.

    • The Union of B.C. Municipalities is asking the provincial government to make transit free for teenagers.

    • A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.

    • The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.

    • Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.

    • A Vulcan, Alta., man has been charged with a Lethbridge woman's murder after her body was found in the Oyen area.

    • A Lethbridge couple got a good reminder as to why you should keep your vehicle doors locked at all times.

    • Lethbridge residents who live near the police range can expect to hear plenty of shots fired Wednesday and Thursday.

    • A new community health profile in the Algoma District shows the area is significantly below provincial averages in a number of health metrics.

    • North Bay Police Service says one person has died following an industrial accident at the Ontario Northland Transportation Commission Rail Yard on Tuesday.

    • Three northern Ontario residents are charged with drug trafficking after the vehicle they were in got stuck along a bush road off Highway 17 on Monday.

    N.L.

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