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    • S&P/TSX rises, U.S. markets lose ground on mixed trading day

    A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Aug. 11, 2022. (AP Photo/Ahn Young-joon) A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Aug. 11, 2022. (AP Photo/Ahn Young-joon)
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    Canada's main stock index posted another day of triple-digit gains and U.S. markets were mixed Thursday against the backdrop of mounting evidence that inflation may be beginning to ease.

    Though the areas affected by a power outage in downtown Toronto Thursday did include Bay Sreet, Toronto's main stock exchange remained open for trading. TMX Group spokeswoman Catherine Kee said its trading systems were not impacted by the outage because its power systems are backed up.

    The S&P/TSX composite index closed up 105.94 points at 19,991.88.

    In New York, the Dow Jones industrial average also closed up 27.16 points at 33,336.67. But the S&P 500 index closed down 2.97 points at 4,207.27, while the Nasdaq composite was down 74.90 points at 12,779.91.

    Markets were coming off a strong rally on Wednesday caused by the release of a cooler-than-expected reading on U.S. inflation at the consumer level.

    Thursday morning's release of another U.S. report - this one on inflation at the wholesale level, which also came in cooler than economists had expected - spurred markets to rise early in the day, though they then gave up most of those gains later in the afternoon.

    Inflation has been the story of the day on the markets for months, and both Wednesday's and Thursday's U.S. reports raised hope among investors that the peak has already been reached and that central banks will be less aggressive about raising interest rates than feared.

    But while the week has certainly brought a string of better news on the inflation front, said Michael Greenberg, SVP and portfolio manager with Franklin Templeton Investment Solutions, the optimists may be jumping the gun.

    Greenberg pointed out that while July's inflation numbers south of the border did come in better-than-expected, other areas that central bankers watch closely - such as housing and labour - still show signs of overheating. And even though the pace of inflation may have eased, the overall rate is still far higher than the two per cent central banks are targeting.

    “I think the market is somewhat expecting central banks to wrap up their hiking cycle a little bit earlier, and perhaps even switch to easing policy if the economy continues to slow,†Greenberg said.

    “Our view is we might have to wait a little bit longer for that. Because yes, inflation's coming off the boil, but it's probably not going to come down to the targets that central banks want to see just yet.â€

    The price for both crude oil and natural gas rose again on Thursday, apparent proof that - while energy prices have backed off somewhat from their spring highs - they aren't in for a drastic decline anytime soon.

    While concerns about overall economic growth may have pushed the price of oil down slightly, the war in Ukraine continues to put pressure on global supply, Greenberg said.

    “And from a weather perspective, we've seen obviously a hot and dry summer in a lot of parts of the world, which is increasing demand for energy,†he added.

    Second quarter earnings reports from companies in both the U.S. and Canada continued to trickle in on Thursday. While in general, markets have received a boost from the quarter's better-than-expected performance, Greenberg cautioned that the remainder of the year will be more challenging.

    “Prices are still fairly high. And with interest rates rising, that could affect consumers and consumer demand,†Greenberg said. “So what we're really looking for is how companies are going to manage that. . . we think there might be some challenges on the corporate front to maintain the margins and earnings momentum we've seen.â€

    In the meantime, Greenberg said investors will continue to watch for any hint from the Bank of Canada or the U.S. Federal Reserve about what they plan to do about interest rates going forward. What equity markets are most concerned about is that central banks move too aggressively to curb inflation, and inadvertently tip the North American economy into a full-blown recession.

    “The challenge is going to be walking that tightrope and getting it right. It's going to be really a delicate dance,†Greenberg said.

    The Canadian dollar traded for 78.41 cents US compared with 78.19 cents US on Wednesday.

    The September crude contract was up US$2.41 at US$94.34 per barrel and the September natural gas contract was up 67 cents at US$8.87.

    The December gold contract was down US$6.50 at US$1,807.50 an ounce and the September copper contract was up six cents at US$3.71 a pound.

    This report by The Canadian Press was first published Aug. 11, 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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    Business

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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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    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), the two sides announced Friday.

    • Ottawa Fire Services says a driver has been safely extricated after being trapped following a two-vehicle collision near a high school in the city’s south end.

    • 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.

    • 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.

    • 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.

    • Edmonton police say a man who was died in the river valley last weekend was fatally shot.

    • 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.

    • 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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