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Biden to focus on plans for U.S. economy as Trump presses long-shot legal claims – National Post

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4 years ago

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Unless action is taken now, “we’re going to see these numbers grow substantially,” Osterholm warned. “Our future’s in our hands.”

Biden has promised to make the health crisis a top priority as president. Ron Klain, who will be White House chief of staff when Biden takes office on Jan. 20, said Biden’s scientific advisers would meet with Pfizer Inc and other drugmakers this week.

Pfizer said last week its vaccine candidate proved more than 90% effective in initial trials, giving hope that widespread vaccination in the coming months could help get the pandemic under control. Other companies also are in advanced stages of developing promising vaccines.

Biden beat Trump in the Nov. 3 election by the same 306-232 margin in the state-by-state Electoral College that Trump proclaimed a “landslide” when he won in 2016. The Democratic former vice president also won the national popular vote by at least 5.5 million votes, or 3.6 percentage points, with ballots still being counted.

A laborious hand recount is under way in Georgia, where Biden has been projected the winner and holds a lead of more than 14,000 votes. Patrick Moore, a Biden campaign legal adviser, said the recount had so far shifted vote totals “almost imperceptibly,” and in Biden’s favor, and there had been no evidence of widespread irregularities.

Control of the U.S. Senate will be decided by two January runoff elections in Georgia, which will be important for the fate of Biden’s ambitious legislative agenda. Klain said Biden may campaign in Georgia ahead of the runoffs.

(Reporting by Trevor Hunnicutt in Wilmington and John Whitesides in Washington; Additional reporting by Susan Heavey, Jan Wolfe and David Shepardson; Editing by Scott Malone and Peter Cooney)

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Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

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2 days ago

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September 13, 2024

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TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

Statistics Canada reports wholesale sales higher in July

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3 days ago

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September 13, 2024

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OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

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3 days ago

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September 12, 2024

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TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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