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S&P/TSX composite up, while U.S. stock markets also rise at end of a volatile week

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TORONTO – Canada’s main stock index moved higher in late-morning trading, helped by gains in base metal stocks, while U.S. stock markets also rose at the end of a volatile trading week.

The S&P/TSX composite index was up 40.76 points at 22,266.37.

In New York, the Dow Jones industrial average was up 46.81 points at 39,493.30. The S&P 500 index was up 11.76 points at 5,331.07, while the Nasdaq composite was up 25.01 points at 16,685.03.

The Canadian dollar traded for 72.84 cents US compared with 72.76 cents US on Thursday.

The September crude oil contract was up 28 cents at US$76.47 per barrel and the September natural gas contract was up a penny at US$2.14 per mmBTU.

The December gold contract was up US$5.00 at US$2,468.30 an ounce and the September copper contract was up four cents at US$4.00 a pound.

This report by The Canadian Press was first published Aug. 9, 2024.

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

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Red Wings sign Moritz Seider to 7-year deal worth nearly $60M

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DETROIT (AP) — The Detroit Red Wings made another investment this week in a young standout, signing Moritz Seider to a seven-year contract worth nearly $60 million.

The Red Wings announced the move with the 23-year-old German defenseman on Thursday, three days after keeping 22-year-old forward Lucas Raymond with a $64.6 million, eight-year deal.

Detroit drafted Seider with the No. 6 pick overall eight years ago and he has proven to be a great pick. He has 134 career points, the most by a defenseman drafted in 2019.

He was the NHL’s only player to have at least 200 hits and block 200-plus shots last season, when he scored a career-high nine goals and had 42 points for the second straight year.

Seider won the Calder Trophy as the league’s top rookie in 2022 after he had a career-high 50 points.

Red Wings general manager Steve Yzerman is banking on Seider, whose contract will count $8.55 million annually against the cap, and Raymond to turn a rebuilding team into a winner.

Detroit has failed to make the playoffs in eight straight seasons, the longest postseason drought in franchise history.

The Red Wings, who won four Stanley Cups from 1997 to 2008, have been reeling since their run of 25 straight postseasons ended in 2016.

Detroit was 41-32-9 last season and finished with a winning record for the first time since its last playoff appearance.

Yzerman re-signed Patrick Kane last summer and signed some free agents, including Vladimir Tarasenko to a two-year contract worth $9.5 million after he helped the Florida Panthers hoist the Cup.

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Nelly Furtado to perform at Invictus Games opening cermony with Bruneau and Kahan

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VANCOUVER – Canadian pop icon Nelly Furtado has been named one of three headliners for the opening ceremony of the upcoming Invictus Games.

Furtado, from Victoria, will share the stage with alt-pop star Roxane Bruneau of Delson, Que., and American singer-songwriter Noah Kahan.

They’ll be part of the show that opens the multi-sport event in Vancouver and Whistler, B.C., in February.

The Invictus Games sees wounded, injured, and sick military service members and Veterans compete in 11 disciplines.

The Vancouver Whistler 2025 Games will be the first of seven editions to feature winter adaptive sports, including alpine skiing, Nordic skiing, skeleton and wheelchair curling.

British Columbia’s Lower Mainland will host the Invictus Games from Feb. 8-16.

This report by The Canadian Press was first published Sept. 19, 2024.

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Woman dead after vehicle crashes with school bus in Thunder Bay, no kids hurt

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THUNDER BAY, Ont. – Police say a woman is dead after her vehicle crashed with a school bus in Thunder Bay, Ont.

Investigators say no students on the bus were hurt.

Police say the crash took place just after 8 a.m. on Thursday.

They say the woman driving the vehicle was pronounced dead at the scene.

She has not been identified.

A section of the road where the crash took place was closed for much of the day but was expected to reopen later on Thursday afternoon.

This report by The Canadian Press was first published Sept. 19, 2024.

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