Â鶹´«Ã½

Business

    • Stocks slide to start August after best month since 2020

    markets
    Share
    NEW YORK -

    Stocks on Wall Street gave up early gains and closed slightly lower Monday as investors began another busy week of company earnings and economic reports.

    The S&P 500 gave up an early gain to end down 0.3%. The Dow Jones Industrial Average dipped 0.1% and the Nasdaq fell 0.2%. Smaller company stocks also gave back some of their recent gains, nudging the Russell 2000 0.1% lower.

    Bond yields mostly fell. The yield on the 10-year U.S. Treasury, which influences mortgage rates, fell to 2.60% from 2.65% late Friday.

    August's subdued opening follows a solid rally for stocks last month: July was the best month for the S&P 500 index since November 2020. But this week's array of economic reports and company earnings has left traders "a little cautious," said Lindsey Bell, chief markets and money strategist at Ally Invest.

    "Investors are still assessing where we break from here -- further to the upside or reverse course," Bell said.

    The benchmark S&P 500 index fell 11.66 points to 4,118.63. It's coming off a 9.1% gain in July, but remains down 13.6% for the year.

    The Dow lost 46.73 points to close at 32,798.40, while the Nasdaq slid 21.71 points to 12,368.98. The Russell 2000 ended down 1.92 points at 1,883.31.

    Banks, health-care companies and tech stocks were among the biggest weights on the S&P 500. JPMorgan Chase fell 1%, UnitedHealth Group dropped 1.3% and Intuit slid 1.7%.

    U.S. crude oil prices fell 4.8%, dragging energy stocks lower. Exxon Mobil lost 2.5%.

    Those losses outweighed solid gains by retailers and consumer products makers. Target rose 1.3% and Procter & Gamble rose 2.9%.

    Boeing jumped 6.1% for the biggest gain in the S&P 500 after it cleared a key hurdle with federal regulators and could soon resume deliveries of its large 787 airliner.

    Stocks have been falling for much of the year as investors worry about high inflation and rising interest rates. A key concern remains whether central banks will raise interest rates too aggressively and push economies into a recession.

    The U.S. Federal Reserve raised its key short-term interest rate by 0.75 percentage points on Wednesday, lifting it to the highest level since 2018. The goal is to slow the U.S. economy to help temper the impact from inflation. An inflation gauge that is closely tracked by the Fed jumped 6.8% in June from a year ago, the biggest increase in four decades.

    A surge in oil prices throughout the year only worsened the impact from inflation. U.S. crude oil prices are up roughly 25% in 2022 and that has raised gasoline prices in the U.S. to record levels.

    A report last week showed that the U.S. economy contracted last quarter and could be in a recession. Stocks' recent rally came as worrisome economic reports gave some investors confidence that the Fed can dial back its aggressive pace of rate hikes sooner than expected.

    Several big companies are reporting earnings this week, which will give investors insight into how inflation is impacting businesses and consumers. Construction equipment maker Caterpillar and coffee chain Starbucks report earnings on Tuesday. Pharmacy chain CVS reports earnings on Wednesday.

    More than half of the companies in the S&P 500 have reported their latest earnings results, which have been mostly better than expected. Many companies have also warned that inflation is hurting consumer spending and squeezing operations. Businesses have been increasing prices in an effort to keep up profits.

    Wall Street will also get several updates on the job market, which has remained strong. The U.S. Labor Department will release its June survey on job openings and labor turnover on Tuesday and its closely-watched monthly employment report for July on Friday.

    CTVNews.ca Top Stories

    A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.

    Why brain aging can vary dramatically between people

    Researchers are uncovering deeper insights into how the human brain ages and what factors may be tied to healthier cognitive aging, including exercising, avoiding tobacco, speaking a second language or even playing a musical instrument.

    Canada

    • A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.

    • Two nephews of the beloved Harry R. Hamilton share stories about his life and legacy.

    • The federal government is urging both sides in the British Columbia port dispute to return to the table after mediated talks broke off on Saturday, the first of three scheduled days.

    • The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.

    World

    Politics

    • Murray Sinclair’s family members say the late justice and senator has been laid to rest according to his wishes.

    • Prime Minister Justin Trudeau announced voters in Cloverdale—Langley City will pick their next member of Parliament on Dec. 16.

    Health

    Sci-Tech

    Entertainment

    Business

    Lifestyle

    Sports

    • Canada will be without captain Alphonso Davies for its upcoming CONCACAF Nations League quarterfinal against Suriname.

    • The Edmonton Oilers may have found the break they were looking for.

    Autos

    Local Spotlight

    For the second year in a row, the ‘Gift-a-Family’ campaign is hoping to make the holidays happier for children and families in need throughout Barrie.

    Some of the most prolific photographers behind CTV Skywatch Pics of the Day use the medium for fun, therapy, and connection.

    A young family from Codroy Valley, N.L., is happy to be on land and resting with their newborn daughter, Miley, after an overwhelming, yet exciting experience at sea.

    As Connor Nijsse prepared to remove some old drywall during his garage renovation, he feared the worst.

    A group of women in Chester, N.S., has been busy on the weekends making quilts – not for themselves, but for those in need.

    A Vancouver artist whose streetside singing led to a chance encounter with one of the world's biggest musicians is encouraging aspiring performers to try their hand at busking.

    Ten-thousand hand-knit poppies were taken from the Sanctuary Arts Centre and displayed on the fence surrounding the Dartmouth Cenotaph on Monday.

    A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.

    • A suspect was arrested for allegedly brandishing a knife outside a Vancouver elementary school on Friday – just as the young students were heading home for the day.

    • The federal government is urging both sides in the British Columbia port dispute to return to the table after mediated talks broke off on Saturday, the first of three scheduled days.

    • Thousands of people gathered in downtown Vancouver Monday to observe the 100th Remembrance day ceremony at the Victory Square cenotaph, paying their respects to the Canadian soldiers who made the ultimate sacrifice for their country.

    • Several hundred people gathered outside the Ontario legislature in Toronto to honour veterans and remember those who died fighting for their country.

    • Toronto is expected to see an economic boost to the tune of nearly $300 million thanks to Taylor Swift’s upcoming Eras Tour, which will be making a stop in Canada’s largest city for a six-show run later this month.

    • A man believed to be in his 40s has been rushed to a trauma centre following a stabbing in downtown Toronto.

    • Calgarians will be observing Remembrance Day at a number of different ceremonies across the city, including at the Hangar Flight Museum.

    • July 2025 may seem like it’s in the distant future, but for the St. Luke playground committee time is ticking to fundraise the $340,000 they still need to build a new playground.

    • Getting out to the mountains is even easier with a new bus route from a growing Germany-based service.

    • Crowds gathered in Ottawa and eastern Ontario on Monday to honour the sacrifice of men and women in uniform who gave their lives in service of Canada.

    • The Fleet Street Pumping station is Ottawa's oldest water facility. Up to two-thirds of the city's water supply can move through it,

    • The company confirms it will open the new Chipotle at 5671 Hazeldean Road on Thursday, in the former location of Benny & Co.

    • A 36-year-old Montreal man who was out on bail after allegedly uttering death threats to a woman is now accused of murdering her on the South Shore.

    • Private Martine Roy was only 20 years old in 1984 when she was arrested, interrogated and dismissed from the Canadian Armed Forces for being what was then termed a "sexual deviant."

    • With fewer interments and rising maintenance fees, the money for Canada's largest military cemetery will run out in three to four years.

    • A member of Canadian Forces Base (CFB) Edmonton participated in the national Remembrance Day Ceremony in Ottawa on Monday.

    • Canada will be without captain Alphonso Davies for its upcoming CONCACAF Nations League quarterfinal against Suriname.

    • Thousands of Maritimers turned out in wet weather Monday to remember those who have served, and continue to serve, in Canada's armed forces for Remembrance Day.

    • A Cape Breton senior recalls her life in German-occupied France, and her mother’s death, during the Second World War.

    • Thousand of people gathered at the Menin Gate in the Ypres, Belgium for Monday’s Remembrance Day Ceremony.

    • Thousands gathered at the RBC Convention Centre on Monday to bear witness to a sombre and historic Remembrance Day ceremony.

    • One Manitoba veteran is on a mission to commemorate and honour those who served our country, and not just on Remembrance Day.

    • Winnipeg police have identified two men involved in a stabbing incident earlier this week.

    • There will be two ceremonies taking place in Regina for Remembrance Day, hosted by the Royal Canadian Legion.

    • Fire crews reported that no one was hurt after flames broke out in a home on Robinson Street in central Regina.

    • Regina author Valerie Crowther is celebrating the release of her book ‘War Letters: Linking Lives in the Second World War.’

    • Saskatchewan RCMP are searching for a suspect after a man was seriously injured in a farm-related incident in Montreal Lake.

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • The Regina Rams claimed the Hardy Cup after a hard fought battle against the Saskatoon Huskies 19-14 on Saturday in the first all Saskatchewan U-Sports western conference final since 2002.

    • Emergency crews responded to the scene on Road 68/Highway 2 east of Thamesford around 7 p.m.

    • The events will start at 10:15 a.m. with a parade that forms up in front of the Delta London Armories, marches east on Dundas Street and turns north onto Waterloo Street to Dufferin Avenue, the west to the Cenotaph.

    • A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.

    • A Barrie man is at the centre of an alleged $2.2 million stolen used car scheme.

    • The 75th anniversary of the Barrie Santa Claus Parade will feature floats, live entertainment, and new attractions, including Santa’s Fireside Gathering.

    • Environment Canada issued a weather alert for Barrie, Collingwood and surrounding areas, alerting residents about the wicked winds that are expected to pick up to 80 kilometres per hour in the afternoon hours.

    • Representatives of the Windsor Veterans Memorial Services Committee, military representatives, wreath bearers, government officials, and members of the public will attend the Cenotaph at City Hall Square for the outdoor service.

    • Windsor Paralympic champion, Danielle Campo, has been crowned the number one Inspirational Speaker of the Year for 2024 at the Inspirational Speaking Finals.

    • One person has been arrested after Chatham-Kent Police Service (CKPS) received multiple complaints about an alleged drunk driver.

    • Environment Canada says heavy rain and winds could cause power outages on Vancouver Island as an "intense" storm system is set to hit the B.C. coast Sunday.

    • Six deer were struck by vehicles in six different locations in a six-hour period on B.C. highways on Saturday, according to the transportation ministry.

    • The union for locked-out port workers in British Columbia says the BC Maritime Employers Association cut off talks in less than an hour Saturday, refusing to budge on a final offer that the union has so far rejected.

    • The emergency department at South Okanagan General Hospital in Oliver, B.C., will be closed for 31 hours this weekend, the second such closure in a week and the third since the start of November.

    • Police in Kamloops, B.C., are reminding parents and guardians to check their children's Halloween candy after receiving a report of a mother finding a razor blade in one of her daughter's treats.

    • More than two years after Alannah Brown and Douglas Barker were found dead north of Penticton, police are asking for help identifying a vehicle they believe was associated with the crime.

    • The Southern Alberta Recreation Association is officially announcing the Town of Taber as next year’s host for the Southern Alberta Summer Games.

    • The Lethbridge Hurricanes broke open a close game with three goals in the first two minutes of the third period as they defeated the Warriors 7-3 in a game played Friday night in Moose Jaw.

    • There might not a lot snow just yet, but many southern Albertans are still itching to get outdoors.

    • It was just days before the COVID-19 pandemic shut the world down when the Shaft Bottom Boys of Sudbury broke a world record for 'Deepest Concert Underground.' Now, more than four years later, a Timmins band is looking to take the title.

    • Police say that a 16-year-old was attacked with a sword Nov. 3 in Cobalt, Ont., in a case of intimate partner violence.

    • Police have arrested a 15-year-old in connection with a break-in and $50,000 in damage done to the Centennial Arena in Elliot Lake in September.

    N.L.

    Shopping Trends

    The Shopping Trends team is independent of the journalists at Â鶹´«Ã½. We may earn a commission when you use our links to shop. Read about us.

    Stay Connected
    Follow Â鶹´«Ã½