Â鶹´«Ã½

Business

    • Stocks wobble, head for another weekly loss; Netflix plunges

    A man looks at an electronic stock board at a securities firm in Tokyo Friday, Jan. 15, 2021. (AP Photo/Eugene Hoshiko) A man looks at an electronic stock board at a securities firm in Tokyo Friday, Jan. 15, 2021. (AP Photo/Eugene Hoshiko)
    Share
    BANGKOK -

    Stocks wobbled between gains and losses on Wall Street Friday as major indexes head for another weekly loss.

    The S&P 500 fell 0.9% as of 1:34 p.m. Eastern. The benchmark index is on track for its third straight weekly loss and its worst weekly loss since October 2020.

    The Dow Jones Industrial Average fell 167 points, or 0.5%, to 34,547 and is also on pace for its third weekly loss in a row.

    The tech-heavy Nasdaq fell 1.4% and has been hit particularly hard by expectations for higher interest rates. As investors prepare for higher interest rates, shares in pricey tech companies and other expensive growth stocks look relatively less attractive. The index is on track for its fourth straight weekly loss and losses in recent months had by Wednesday left it in what Wall Street considers a market correction, or 10% below its peak.

    Stocks have been falling all week amid concerns about rising inflation and an upcoming increase in interest rates. Technology stocks have been directing, and often abruptly redirecting, momentum in the market.

    "The market is working through digestion of how much monetary policy change will occur over the course of 2022," said Bill Northey, senior investment director at U.S. Bank Wealth Management.

    Technology and communications stocks were among the biggest weights on the market.

    Streaming video service Netflix plunged 21.3% after it delivered another quarter of disappointing subscriber growth. Disney, which has also been trying to grow its subscriber base for its streaming service, fell 6%.

    A mix of retailers, travel-related companies and other companies that rely on direct consumer spending also fell.

    Bond yields fell significantly. The yield on the 10-year Treasury fell to 1.75% from 1.83% late Thursday. The drop weighed on bank stocks, which rely on higher yields to charge more lucrative interest on loans.

    Household good makers and utilities, which are typically considered less-risky investments, made gains.

    Inflation fears and concerns about the impact of higher interest rates have prompted a cautious shift in the broader market after a solid year of gains in 2021.

    Supply chain problems and higher raw materials costs have prompted companies in a wide range of industries to raise prices on finished goods. Many of those companies have warned investors that their profit margins and operations continue feeling the pinch in 2022.

    Rising costs have raised concerns that consumers will start to ease spending because of the persistent pressure on their wallets. The latest retail sales data for December was surprisingly disappointing and revealed a decline in sales.

    The Federal Reserve is now expected to raise interest rates earlier and more often than it had previously signaled in order to fight rising inflation that threatens to derail a further economic recovery. The central bank could begin raising rates as early as March.

    Investors have also been busy reviewing the latest round of corporate earnings, which could give them a better sense of how companies are dealing with persistent supply chain problems and higher costs.

    Paint and coatings maker PPG Industries fell 2% after warning investors that it continues grappling with high raw materials costs and supply chain problems. Surgical device maker Intuitive Surgical fell 7.9% after warning that the focus on COVID-19 cases continues to hurt procedure volumes.

    Peloton rose 14.6% after the maker of exercise bikes and treadmills said fiscal second-quarter revenue would meet previous estimates. The stock tanked a day earlier after CNBC reported Peloton was temporarily halting production of exercise equipment to stem a decline in sales.

    CTVNews.ca Top Stories

    A 15-year-old boy from Kitchener, Ont. is facing a long list of criminal charges as the Waterloo Regional Police Service wraps up a lengthy swatting investigation.

    Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.

    A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.

    A team of tornado experts are investigating a path of damage through Wellington County.

    Canada

    • A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.

    • A 15-year-old boy from Kitchener, Ont. is facing a long list of criminal charges as the Waterloo Regional Police Service wraps up a lengthy swatting investigation.

    • A team of tornado experts are investigating a path of damage through Wellington County.

    • Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.

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

    World

    Politics

    Health

    Sci-Tech

    Entertainment

    Business

    Lifestyle

    Sports

    • The Toronto Maple Leafs have placed forward Max Pacioretty on the injured reserve with a lower-body injury, the team announced Monday.

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

    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 B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.

    • A B.C. teen has a suspected case of H5N1 avian flu — the first known human to acquire the virus in Canada.

    • Discounts abound at a new eatery in downtown Vancouver that offers pizzas and fry towers at a base price of $9.11, as a tribute to first responders.

    • 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.

    • EXTENDED VIDEO

      EXTENDED VIDEO

      Calgarians observed Remembrance Day at a number of different ceremonies across the city on Monday, including at the Hangar Flight Museum.

    • A memorial walk was held Sunday afternoon by the Calgary branch of the Ukrainian Canadian Congress to “honour the Canadian soldiers who died fighting for peace in the past and the Ukrainian soldiers who are giving their lives for freedom today,†according to a media release.

    • 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.

    • Dr. Ronald Weiss, who performed nearly 60,000 vasectomies on Ottawa men, establishing him as the "Wayne Gretzky" of the procedure, has died.

    • 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 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 against his partner is now accused of murdering her on the South Shore.

    • Hundreds of people gathered in downtown Montreal on Monday to mark Remembrance Day and honour Canadians who sacrificed their lives in the great wars and beyond.

    • 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."

    • Edmonton's Beverly Memorial Cenotaph on Monday hosted its 104th Remembrance Day service to honour past and present veterans.

    • Edmonton’s largest legion says it’s holding its own after struggling to stay open after the pandemic.

    • 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.

    • Four teenagers have been arrested in connection with the attack and robbery of a 62-year-old woman.

    • A sacred fire burning in Winnipeg has brought healing and hope to some members of Xavia Skye Lynn Butler’s family.

    • A Manitoba-shot Christmas movie was on the nice list at the box office last weekend.

    • November 11th marks a solemn day across Canada, and Regina is no exception.

    • 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.’

    • A team of tornado experts are investigating a path of damage through Wellington County.

    • A 15-year-old boy from Kitchener, Ont. is facing a long list of criminal charges as the Waterloo Regional Police Service wraps up a lengthy swatting investigation.

    • Staff say future affordable housing projects in the Region of Waterloo could be very costly.

    • 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.

    • Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.

    • Failing to comply with a property standards order issued by city hall could add almost $100,000 to the tax bill of a prominent eyesore in east London.

    • Sarnia Mayor Mike Bradley expresses concerns about talk of tariffs and Great Lakes water diversion by president-elect Donald Trump.

    • A team of tornado experts are investigating a path of damage through Wellington County.

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

    • An unseasonably mild fall in Simcoe County has put any hopes for an early start to the ski season on hold, still, one local resort has its sights set on the slopes.

    • Midland has become the latest among urban mayors to call on the province to enact a controversial clause to tackle the homeless crisis.

    • A local high school honoured veterans of the “Forgotten War†on Monday.

    • Upwards of 1000 handmade poppies are on display outside Lifetimes on Riverside Retirement home on Riverside Drive East, part of its fourth annual Poppy Project.

    • After a Canada Border Services Agency (CBSA) worker took their own life while on shift at the Ambassador Bridge Saturday, Â鶹´«Ã½ Public Safety Analyst Chris Lewis highlighted the mental health burdens faced daily by law enforcement.

    • A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.

    • A B.C. teen has a suspected case of H5N1 avian flu — the first known human to acquire the virus in Canada.

    • 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.

    • A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.

    • 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.

    • 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.

    • Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.

    • 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.

    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