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Stock market today: Global stocks higher Wall St drifts lower following run-up

Published Fri, 07 Feb 2025 13:22:35 GMT

BEIJING (AP) — Global stock markets were mostly higher Tuesday after Wall Street drifted lower following its latest rally.London, Shanghai, Paris and Hong Kong gained. Tokyo declined. Wall Street futures rebounded. Oil prices rose.Wall Street’s benchmark S&P 500 index lost 0.4% on Monday as tech stocks declined following a rapid run-up while most other stocks advanced. The index is off this year’s high of two weeks ago but still up more than 20% since mid-October.“The moderation from previous overbought technical conditions and extreme bullish sentiment continues,” Yeap Jun Rong of IG said in a report.In early trading, the FTSE in London rose 0.2% to 7,471.46 while the DAX in Frankfurt lost 0.1% to 15,813.06. The CAC 40 in Paris advanced 0.3% to 7,184.35.On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average were 0.2% higher.On Monday, the Dow lost less than 0.1%. The Nasdaq composite, dominated by tech stocks, fell 1.2%.In Asia, Shanghai Co...

Canada prepares to adapte to climate change: A look at what’s In The News today

Published Fri, 07 Feb 2025 13:22:35 GMT

Here is a roundup of stories from The Canadian Press designed to bring you up to speed on what you need to know today. Canada’s climate adaptation strategyCanada’s plan to make communities more resilient to climate change is coming today.The final version of the national adaptation strategy is expected to be similar to the draft published last fall, which included targets to shore up resistance to wildfires, extreme heat and major storms, such as hurricanes.That includes measures to protect people from extreme heat, updated flood maps for high-risk areas and public education about the specific risks people might face in their own communities.The federal government consulted with provinces and territories over the past seven months to get their buy-in to the plan, which will need all levels of government to work together.Dental dollars divvied upProvinces that already cover dental-care services for children have been given a smaller share of federal dollars from the Canad...

Provinces with existing dental coverage got smaller share of federal kids’ benefit

Published Fri, 07 Feb 2025 13:22:35 GMT

OTTAWA — Provinces that already cover dental-care services for children have been given a smaller share of federal dollars from the Canada Dental Benefit, further driving concerns that governments will end that coverage as the federal program expands.Data provided to Parliament shows that provinces and territories with dental benefits for all children were given less federal money per population than those that offer only targeted coverage. The federal dental benefit was launched last fall and is designed to provide cash payments to low- and middle-income families without private insurance. Children qualify for $260, $390 or $650, depending on their family income.Prince Edward Island, Nunavut, Newfoundland and Labrador, Quebec, Nova Scotia and Yukon all cover at least basic dental care for children — and received less funding than the national average.The data may confirm the program is working as intended to fill gaps in coverage, but the Bloc Québécois says the results reveal an &...

Feds to release final version of national climate adaptation strategy today

Published Fri, 07 Feb 2025 13:22:35 GMT

OTTAWA — Canada’s plan to make communities more resilient to climate change is coming today.The final version of the national adaptation strategy is expected to be similar to the draft published last fall, which included targets to shore up resistance to wildfires, extreme heat and major storms, such as hurricanes.That includes measures to protect people from extreme heat, updated flood maps for high-risk areas and public education about the specific risks people might face in their own communities.The federal government consulted with provinces and territories over the past seven months to get their buy-in to the plan, which will need all levels of government to work together.The plan comes as Canada is facing its worst wildfire season on record, breaking the record Monday for the most area burned due to fire in a single year in less than six months.Ottawa committed $1.6 billion in new spending to the adaptation plan last fall and is expected to put some more money on the tab...

Infrastructure at centre of Western Canada premiers’ meeting in Whistler, B.C.

Published Fri, 07 Feb 2025 13:22:35 GMT

WHISTLER, B.C. — The high cost of replacing infrastructure and upgrading it to withstand damage from climate-related disasters will be a key topic of discussion as western premiers meet today in Whistler, B.C. Host Premier David Eby says he and his counterparts from western provinces and territories agree on calling on the federal government to boost infrastructure funding, given the increased stresses on transportation grids across Western Canada.Eby says recent disasters in B.C., such as the heat dome in June 2021 and the series of atmospheric rivers that November, show the need for new infrastructure to be more resistant to the effects of climate change.Without the necessary upgrades, Eby says Western Canadian communities will continue to see strains and slowdowns, not only in the main transportation thoroughfares, but also in economic and trade activities that depend on those routes.The premiers are also expected to discuss issues such as public safety and the climate challenge ...

As mayor-elect Chow ascends to Toronto’s top office, budget challenges lie ahead

Published Fri, 07 Feb 2025 13:22:35 GMT

TORONTO — Olivia Chow heads to Toronto city hall today hours after being elected mayor of Canada’s most populous city. One immediate challenge for the former NDP parliamentarian and past city councillor will be tackling a nearly $1-billion pandemic-related budget shortfall, partly driven by reduced transit revenue and increased shelter costs.Chow will also have to tackle issues of housing unaffordability and public safety concerns. The 66-year-old veteran politician and first person of colour to be elected as Toronto’s mayor, who has pledged to bring change to the city, will be at city hall for meetings today. Chow eked out a win in the mayoral byelection against 101 other candidates vying to replace scandal-departed John Tory, with former deputy mayor Ana Bailão coming in a close second. The results of the election, which saw Chow capture 37 per cent of the vote, are set to be certified by the city clerk on Wednesday with a swearing-in date still to be announced. Chow h...

Artificial intelligence to be hot topic at Collision tech conference in Toronto

Published Fri, 07 Feb 2025 13:22:35 GMT

TORONTO — As the Collision tech conference gets underway in Toronto, its chief executive expects much of the chatter at the event to focus on artificial intelligence.Paddy Cosgrave says most of the annual event’s top talks are delving into the technology and how blue-chip brands and startups are using it to advance their companies.He says it’s unusual for a single topic to dominate the event, a shift from last year when blockchain, cryptocurrencies and layoffs sparked discussions.This year’s Collision will see the so-called godfather of AI Geoffrey Hinton hit the stage and feature talks from executives at Google’s AI research venture DeepMind and the founders of Canadian AI startup Cohere.Cosgrave anticipates Hinton, who recently left Google to speak more freely about AI, will share some of his concerns about the technology.Collision expects about 40,000 people to visit the four-day conference at the Enercare Centre by the time it ends on Thursday evening. It...

Statistics Canada to release May inflation reading today

Published Fri, 07 Feb 2025 13:22:35 GMT

OTTAWA — Statistics Canada is set to release its inflation reading for May this morning. The federal agency’s consumer price index report is expected to show Canada’s inflation rate fell last month.RBC is forecasting the annual inflation rate slowed to 3.6 per cent, down from 4.4 per cent in April.The commercial bank says the slowdown comes as gasoline prices have fallen significantly compared to a year ago. Forecasters are also hoping to see that food inflation slowed last month, a source of financial strain for many families. The Bank of Canada will be paying close attention to today’s report, as it gears up for its interest rate decision on July 12.This report by The Canadian Press was first published June 27, 2023.The Canadian Press

Competition Bureau to release study on grocery sector concentration and food costs

Published Fri, 07 Feb 2025 13:22:35 GMT

GATINEAU, Que. — Canada’s competition watchdog is expected to release a study today examining whether consolidation in the grocery sector is contributing to rising food costs.The Competition Bureau announced the study last fall as grocery prices rose at the fastest pace in 40 years.It said the study would examine three broad questions: how grocery sector competition affects prices, what Canada can learn from other countries that have taken steps to increase competition  and how governments can lower barriers to entry and expansion in the sector.Many Canadians buy groceries from retail chains operated by one of three companies: Loblaws, Sobeys, and Metro. Other important retailers include Costco and Walmart, as well as independent grocers.The Competition Bureau says when consumers have more choices between grocery stores, they are likely to pay lower prices, gain greater convenience and be served by higher levels of innovation.This report by The Canadian Press was first publish...

Daily horoscope for June 27, 2023

Published Fri, 07 Feb 2025 13:22:35 GMT

Moon Alert: There are no restrictions to shopping or important decisions today. The Moon is in Libra.Happy Birthday for Tuesday, June 27, 2023:You are strong-willed with a vibrant energy. You’re eager for new experiences and willing to take a chance. You are competitive and persuasive. Simplicity is the key to life this year. It’s time to create solid foundations, plus take charge of your health. Work hard and stay grounded.ARIES(March 21-April 19)★★★Be ready to cooperate with others today because the Moon is still opposite your sign. Quite likely, you will meet someone who is vigorous and interested in sports, socializing or something to do with your kids. Stay light on your feet so you can be flexible. Tonight: Cooperate.TAURUS(April 20-May 20)★★★★You can get a lot done at work today or in anything that you choose to do because you are motivated to follow through and go after what you want. Competition will only spur you on. You also might be interested in exploring a ...