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    • U.S. markets rise amid volatile trading over bank fears

    Traders work on the floor at the New York Stock Exchange in New York, Wednesday, Feb. 22, 2023. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, Feb. 22, 2023. (AP Photo/Seth Wenig)
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    TORONTO -

    Equity markets have been zigzagging throughout the day while digesting multiple developing stories, including two recent bank failures, the U.S. government's plan to backstop the financial system and changing investor sentiment about interest rate hikes.

    While equity markets were largely down to start the trading day as they caught up to the latest news about the closures of Silicon Valley Bank and Signature Bank, U.S. indexes recovered as the morning progressed, with the Nasdaq in particular making gains of more than one per cent.

    However, even as the U.S. market reversed its earlier losses, bank stocks continued to drop as Wall Street worries about further failures in the financial sector.

    Meanwhile in Canada, the S&P/TSX composite index was down 123.28 points at 19,651.64 mid-afternoon, reflecting continued weakness in the energy and financials sectors.

    In New York, the Dow Jones industrial average was up 115.47 points at 32,025.11. The S&P 500 index was up 25.40 points at 3,886.99,while the Nasdaq composite was up 141.22 points at 11,280.11.

    Some of the optimism helping buoy shares Monday is likely due to hopes that the Federal Reserve will be less aggressive in its tightening at next week's interest rate meeting.

    Markets had been largely pricing in a raise of a quarter of a percentage point, after briefly swelling expectations last week to half a point over hawkish comments by Fed chairman Jerome Powell.

    But on Monday, Goldman Sachs forecast a pause in rate hikes due to the two bank collapses.

    For the tech sector, which has been particularly sensitive to interest rate increases, this would be welcome news, and on Monday the Nasdaq has been outpacing other indexes

    The Canadian dollar traded for 72.83 cents US compared with 72.43 cents US on Friday.

    The April crude contract was down US$1.85 at US$74.83 per barrel and the April natural gas contract was up 11 cents at US$2.54 per mmBTU.

    The April gold contract was up US$48.00 at US$1,915.20 an ounceand the May copper contract was up two cents at US$4.05 a pound.

    -- With files from The Associated Press

    This report by The Canadian Press was first published March 13, 2023.

    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.

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    Canada

    • 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.

    • 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.

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

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

    World

    Politics

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    Sci-Tech

    Entertainment

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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.

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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

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

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    • 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.

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    • 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.

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    • BREAKING NEWS

      BREAKING NEWS

      Agreement 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.

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

    • 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.

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

    • Environment Minister Steven Guilbeault has invited his Quebec counterpart to the negotiating table to reach an agreement on caribou before Christmas. He noted that the province could benefit from hundreds of millions of dollars in funding to protect biodiversity.

    • 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.

    • 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.

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    • WEATHER

      WEATHER

      The big weather story today won't really be rain, it'll be the cooler and breezier conditions.

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

    • Amber and Adam Brueckner have a pool-shaped hole in their backyard – and their wallets.

    • The missing family that was last seen in Kitchener, Ont. on Sept. 1 has been found safe, according to police.

    • A 43-year-old Guelph woman is wanted after police say she broke into a house and made herself at home.

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    • 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.

    • 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.

    • 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.

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    • 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.

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

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    N.L.

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