TORONTO — Canada's main stock index ended Tuesday narrowly in the red, weighed down by losses in energy and base metals stocks, while U.S. markets moved higher. Investors digested the latest news from U.S. president-elect Donald Trump, who threatened sweeping new tariffs of 25 per cent on products from Canada and Mexico. The “sizable” tariff promise likely shocked markets somewhat right off the bat, said Mike Archibald, vice-president and portfolio manager with AGF Investments Inc. “But I think as people have kind of digested they've thought that this is probably a starting position from a bargaining standpoint,” he said. The announcement was in line with Trump’s tactics used during his first presidency, said Archibald. The S&P/TSX composite index closed down 5.21 points at 25,405.14. In New York, the Dow Jones industrial average was up 123.74 points at 44,860.31. The S&P 500 index was up 34.26 points at 6,021.63, while the Nasdaq composite was up 119.46 points at 19,174.30. A few Canadian companies saw their share prices drop because of the outsized impact such a tariff could have on certain sectors, said Archibald. These included Bombardier, BRP, Linamar and Magna International. “You can see the biggest losers on the market today are generally those that manufacture in either Canada and/or Mexico,” he said. But higher tariffs could also be inflationary for the U.S., said Archibald. Markets have been paring back their bets for interest rate cuts in the U.S. in the wake of the election in anticipation of potentially higher inflation. “It’s a bit too early to know,” said Archibald. Despite the uncertainty, he said markets are still poised to do well in the coming months thanks to Trump’s overall pro-business bent. “I still think the market is in a very good position to rally ... into the end of the year,” he said. “The S&P 500 is still going to do fairly well relative to other markets around the world.” The loonie fell to a four-year low before clawing back some of its losses later in the day, he noted. The Canadian dollar traded for 71.01 cents US compared with 71.53 cents US on Monday. The January crude oil contract was down 17 cents at US$68.77 per barrel and the January natural gas contract was up three cents at US$3.47 per mmBTU. The December gold contract was up US$2.80 at US$2,621.30 an ounce and the March copper contract was down four cents at US$4.12 a pound. — With files from The Associated Press This report by The Canadian Press was first published Nov. 26, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian PressLOS ANGELES (AP) — Blake Snell and the Los Angeles Dodgers have finalized a $182 million, five-year contract. The reigning World Series champions announced the deal with the two-time Cy Young Award winner on Saturday. Snell, who turns 32 on Wednesday, went 5-3 with a 3.12 ERA in 20 starts for San Francisco this year, throwing a no-hitter at Cincinnati on Aug. 2 for one of only 16 individual shutouts in the major leagues this season. The left-hander struck out 145 and walked 44 in 104 innings. He was sidelined between April 19 and May 22 by a strained left adductor and between June 2 and July 9 by a strained left groin. Snell gets a $52 million signing bonus , payable on Jan. 20, and annual salaries of $26 million, of which $13 million each year will be deferred. Because Snell is a Washington state resident, the signing bonus will not be subject to California income tax. Snell joins Shohei Ohtani and Yoshinobu Yamamoto atop Los Angeles’ rotation. Ohtani didn’t pitch this year while recovering from right elbow surgery but the two-way star is expected back on the mound in 2025. Snell won Cy Young Awards in 2018 with Tampa Bay and 2023 with San Diego. He is 76-58 with a 3.19 ERA in nine seasons with the Rays (2016-20), Padres (2021-23) and Giants. Because he turned down a qualifying offer from San Diego last November, the Giants were not eligible to give Snell another one and won’t receive draft-pick compensation. AP MLB: https://apnews.com/hub/MLB
Dejounte Murray is rejoining the Pelicans vs. Toronto and drawing inspiration from his mother
Percentages: FG 39.726, FT .588. 3-Point Goals: 9-21, .429 (Lacey 3-6, McMiller 3-5, Petticord 2-6, Thompson 1-3, Perkins 0-1) Blocked Shots: 3 (Adams 1, McMiller 1, Perkins 1) Turnovers: 9 (McMiller 4, Thompson 2, Lacey 1, Perkins 1, Walker 1) Steals: 8 (Adams 6, Lacey 1, McMiller 1) Technical Fouls: None Percentages: FG 39.394, FT .667. 3-Point Goals: 4-21, .190 (Mays-Prince 3-5, Jackson 1-6, Gaines 0-1, Gwynn 0-3, Akinsola 0-1, Eddings 0-5) Blocked Shots: 5 (Johnson 2, Jackson 1, Green 1, Akinsola 1) Turnovers: 16 (Gaines 4, Gwynn 4, Mays-Prince 3, Jackson 2, Johnson 1, Green 1, Akinsola 1) Steals: 5 (Gwynn 2, Eddings 2, Green 1) Technical Fouls: None A_0 Officials_Erika Herriman, Kenya Kirkland, Angelica SuffrenA DEFIANT Mary Lou McDonald has claimed that Sinn Fein have broken the mould of Irish politics as she declared: “Two party politics is now gone. It’s consigned to the dustbin of history.” Mary Lou McDonald today laid out her plan for after the election as she revealed that Sinn Fein will be “actively pursing entrance to government.” Both Fianna Fail and Fine Gael ruled out entering coalition with Sinn Fein in the run up to the election. Mary Lou McDonald – who topped the poll in Dublin Central – today revealed that she plans to reach out to the leaders of left wing parties such as the Social Democrats and the Labour Party to discuss trying to form a government. However, pressed on whether Sinn Fein and the left will have the numbers to form a government, Ms McDonald said: “I think it’s fair to say that we have now confirmed that we have broken the political mould her in this state. “Two party politics is now gone. It’s consigned to the dustbin of history and that in itself is very significant. “The question now arises for us – what do we do with that? And we are clear that we want to change people’s lives and make things better. “The housing crisis – we can not tolerate or sustain another five years. "The cost of living crisis is baring down on people and for our young people in particular we have to get it right here and give them their opportunity at home. That is currently not happening. “We as a political leadership will do everything that we can. We will move heaven, we will move earth to make people’s lives better.” Asked if she believes the numbers are there to form a coalition of the left to lead government, the Sinn Fein leader said: “I am looking to bring about a government of change and I am going to go and look at all formulations. “The bottom line if you want my bottom line – the idea of Fianna Fail and Fine Gael for another five years in our strong opinion is not a good outcome for Irish society. MARY Lou McDonald has reacted to Gerry ‘The Monk’ Hutch’s vote haul in the general election and claimed: “Nothing in politics surprises me, I’m around far too long.” Gang boss Hutch ran as an independent in the Sinn Fein leader’s Dublin Central constituency and is in the fight for the final seat. Ms McDonald topped the poll in the constituency with Fine Gael’s Paschal Donohoe and Social Democrat Gary Gannon also set to be re-elected. However, the final seat – which is currently held by Neasa Hourigan of the Greens – is still to play for with The Monk and Labour’s Marie Sherlock in the race. Transfers of several candidates will be key to where the final seat goes with The Monk likely to benefit from independent Malachy Steenson’s second preferences. However, Labour’s Marie Sherlock should receive a boost from other left leaning candidates that are still in the race. Asked about her Dublin Central constituency today, Mary Lou McDonald said: “If this doesn’t sound like bragging...actually now I’m going to brag – it’s a hatrick for me in topping the poll in the constituency and I’m really, really proud of that achievement. “The last seat is in the balance. I think it’s going to be a battle royal. I imagine it will go late into the night and into tomorrow before we see where it lands.” Pressed on whether she was surprised by Gerry The Monk Hutch’s 3,000 first preference votes, the Sinn Fein leader said: “Nothing in politics surprises me, I’m around far too long.” “Obviously I want to talk to other parties of the left and those we share significant policy objective with and I’m going to do that first and hear their mind and thinking. “Be very clear – we will be very actively pursing entrance into Government. “It was clear to me when we were going around on the campaign that people want us to take a place in government and they want to see us deliver. “I’m going to do everything I can to establish whether and how that might be possible. That will involve the counting to finish, for us to assess the result in its totality and then obviously conversation and dialogue with others.”