Loonie TSX fall amid reports US plans to pull out of NAFTA

first_imgTORONTO – The Canadian dollar and the Toronto stock index fell Wednesday amid reports that the United States may soon announce its intent to pull out of the North American Free Trade Agreement.The loonie closed at an average trading price of 80.03 cents US, down 0.27 of a U.S. cent.The S&P/TSX composite index lost 71.29 points to 16,247.95, with industrials among the main decliners.“That’s the sector that’s getting hit the most this afternoon because of the NAFTA news,” said Anish Chopra, managing director with Portfolio Management Corp. in Toronto. “You’ve got the auto parts companies in that area.”Separate reports from Reuters and Bloomberg said Wednesday that two Canadian government sources believe it’s increasingly likely that U.S. President Donald Trump will give six-months’ notice to withdraw from NAFTA in late January.With the exception of metals and materials, few sectors on the commodity-heavy TSX finished the day out of the red, as the February gold contract gained US$5.60 to US$1,319.30 an ounce.“The markets sold off this afternoon on the NAFTA news and that’s really been a driver of performance later in the day,” Chopra said.Even rising oil prices — the February crude contract was up 61 cents to US$63.57 per barrel, its highest level since Dec. 9, 2014 — couldn’t prevent energy stocks from losing ground.“That would be unusual given the change in price of the commodity,” Chopra said. “I think it’s in sympathy of just trying to understand what’s going on with NAFTA. … You don’t know if it’s actually going to happen or if it’s a negotiating tactic.”South of the border, U.S. stock indices pulled back from their record setting pace.On Wall Street, the Dow Jones industrial average dropped 16.67 points to 25,369.13. The S&P 500 index edged back 3.06 points to 2,748.23 and the Nasdaq composite index was down 10.01 points to 7,153.57.Elsewhere in commodities, the February natural gas contract was down two cents to US$2.91 per mmBTU and the March copper contract added two cents to US$3.24 a pound.Follow @DaveHTO on Twitter.last_img read more

Global stocks sustain rally as USChina trade talks wrap up

first_imgNEW YORK — Stocks around the world built on their early 2019 rally Wednesday after negotiators from the U.S. and China extended their trade talks to a third day, which investors took as a sign the discussions were productive even though no major breakthroughs have been announced. Oil prices also continued to climb and stocks linked to faster economic growth, such as technology companies, kept climbing.KEEPING SCORE: The S&P 500 index climbed 6 points, or 0.3 per cent, to 2,580 as of 9:50 a.m. Eastern time. The Dow Jones Industrial Average gained 110 points, or 0.5 per cent, to 23,900. The Nasdaq composite rose 29 points, or 0.4 per cent, to 6,926. The Russell 2000 index of smaller and U.S.-focused stocks added 4 points, or 0.3 per cent, to 1,431.Indexes in Europe and Asia made bigger gains. Germany’s DAX added 1.3 per cent and the CAC 40 in France climbed 1.4 per cent. Britain’s FTSE 100 jumped 1 per cent. Japan’s Nikkei 225 index gained 1.1 per cent and the Hang Seng in Hong Kong rallied 2.3 per cent. South Korea’s Kospi advanced 2 per cent.CHINA-US TRADE: The latest round of trade negotiations between the world’s two largest economic powers have now concluded, but investors were cheered when they learned the two-day talks would be extended. No details were immediately announced.The Trump administration wants the government of President Xi Jinping to alter its handling of technology and intellectual property held by foreign companies, and change plans for government-led creation of Chinese leaders in advanced technologies. Chinese officials have suggested they could revise some of their industrial plans but have but won’t abandon larger goals that they consider a path to prosperity and global influence.FIVE O’CLOCK SOMEWHERE: Beer and wine maker Constellation Brands slumped after it cut its annual profit forecast, saying it now expects sales and profits for its wine and spirits division to fall in the current fiscal year. The stock gave up 10.4 per cent to $154.37.EARLY RISERS: Technology companies kept edging higher after their steep losses over the final months of 2018. Chipmakers made some of the largest gains. Intel climbed 1.3 per cent to $48.37 and Micron Technology picked up 6.6 per cent to $3.598. Elsewhere, Microsoft added 0.8 per cent to $103.67.OVERSEAS: ENERGY: Oil prices also continued to rally. U.S. crude rose 3.3 per cent to $51.40 a barrel in New York. It hasn’t traded above $50 a barrel in almost a month. Brent crude, used to price international oils, added 2.8 per cent to $60.35 a barrel in London.Crude oil is on track to rise for the eight day in a row and ninth in the last 10. U.S. crude has jumped 13 per cent so far in 2019.BONDS: Bond prices continued to fall. That sent yields higher, a sign investors expect more economic growth and higher long-term interest rates. the yield on the 10-year Treasury note rose to 2.73 per cent from 2.71 per cent.FED MINUTES: Later Wednesday the Federal Reserve will release minutes from its policy meeting last month, at which the central bank raised interest rates and reduced its forecasts for the number of hikes this year from three to two.CURRENCIES: The dollar slipped to 108.47 yen from 108.65 yen. The euro climbed to $1.1519 from $1.1443 and the British pound rose to $1.2785 from $1.2719.____Pan Pylas contributed to this story from London.Marley Jay, The Associated Presslast_img read more

FSJ RCMP tips for keeping pedestrians safe

first_imgTips for pedestrian safety: – Be safe – Be seen: wear brighter coloured clothes and consider wearing reflective      accessories – don’t wear earbuds, look and listen for oncoming vehicles – make eye contact with drivers prior to crossing the street or at intersections– use crosswalks and don’t jaywalkTips for drivers sharing the road with pedestrians: – don’t be distracted, keep your attention on the road – look for pedestrians at crosswalks and intersections, and be ready to yield to them – slow down where high pedestrian volume is expected, especially in the early morning hours or when visibility is poorThe RCMP finish by saying “Let’s all do our part to keep each other safe because when pedestrians get hurt, nobody wins.” FORT ST. JOHN, B.C. – After a recent accident involving a pedestrian being struck the RCMP have released the following tips to help keep pedestrians safe.ICBC shared, in B.C. 1 in 5 people that are killed in car crashes are pedestrians and that on average 2,300 pedestrians are injured in BC, every year which works out to 192 people a month or about 6 people a day. Almost half of these crashes are happening in the fall and winter months when days are shorter and driving conditions are more difficult.The RCMP share it is the responsibility of both pedestrians and drivers to ensure everyone makes it to their destinations safely.last_img read more

Pochettino under pressure to halt Spurs slide

first_imgTottenham Hotspur manager Mauricio Pochettino is under pressure to halt the team’s poor run of form when they face Brighton & Hove Albion this weekend.Spurs have lost their last three games in all competitions including a disappointing midweek away loss to Inter Milan in the opening group game of their UEFA Champions League campaign.Pochettino takes his team to face the seagulls this weekend in the Premier League who are in search of their first win since thrashing Manchester United 3-0 at Old Trafford.“The group is, of course, a little bit anxious about winning games because it is normal when you don’t win the atmosphere and the energy is different but that happens,” said Pochettino on Thursday, according to France24.“Sometimes it is good to feel the pain of defeat, not only one but two or three.”“After Manchester United, the perception was completely different. Now, after three defeats, all seems different but not under my eyes.”Victor Wanyama, Tottenham Hotspur, Premier LeaguePochettino admits Wanyama remains in his Spurs plans Manuel R. Medina – September 14, 2019 Kenyan international, Victor Wanyama, was the protagonist of a summer transfer saga, but in the end, he is set to stay at Tottenham Hotspur.However, Pochettino has refused to blame a lack of summer transfer activity on the team’s poor form.“Now it’s easy to blame or regret different things, that is the easy way to avoid responsibility,” he said. “I’m not going to avoid responsibility.”Spurs have conceded four of the last six goals against them from set pieces and Poch insists they have to improve.“We need to be strong because the games that we lose, in the way we conceded the goals, it’s so painful,” added Pochettino.last_img read more

House Passed Oil Tax Credit Bond Bill

first_imgFacebook0TwitterEmailPrintFriendly分享The House passed Governor Walker’s proposal to pay off nearly $1 billion in oil and gas tax credits, on Thursday, May 3. Last year lawmakers worked to end the system that paid tax credits to small companies that produced oil and looked for new fields. Alaska’s three largest oil and gas companies are not eligible to receive these credits. The bill passed in the House by a vote of 23 to 15, and will not we sent to the Senate for consideration. In exchange for getting paid now rather than waiting years, small companies that are owed credits will accept a discounted rate, saving the state a significant amount of money.center_img The measure was introduced by Governor Walker and enables issuance of up to $1 billion in bonds to pay small oil and gas exploration companies the tax credits they were promised by the State of Alaska by past legislatures. Representative Scott Kawasaki (D-Fairbanks) is worried that the state is just trading one debt for another: “This really goes in the wrong direction, in my opinion. What this does is it says rather than trying to live within our means, and come up with a fiscal plan, that we will instead take out a loan, that we will instead take out a credit card.” last_img read more