TORONTO — Canada's main stock index lost more than 100 points Tuesday ahead of an expected interest rate cut Wednesday, while U.S. markets were also down. The S&P/TSX composite index closed down 121.09 points at 25,504.33. In New York, the Dow Jones industrial average was down 154.10 points at 44,247.83. The S&P 500 index was down 17.94 points at 6,034.91, while the Nasdaq composite was down 49.45 points at 19,687.24. “Relative to the churn we have seen in the markets the last few days ... today being a little bit of a boring day would be fairly welcome for many investors,” said Stephen Duench, vice-president and portfolio manager for AGF Investments Inc. Wednesday is set to be more exciting, with an interest rate cut expected in Canada and important consumer inflation data coming in the U.S. “I do expect a little bit more fireworks tomorrow,” said Duench. The Bank of Canada is widely expected to announce an outsized cut Wednesday of half a percentage point, he said. “Anything other than that would be a surprise.” The U.S. Federal Reserve has its last decision of the year scheduled for next week, and market watchers are leaning toward a smaller quarter-percentage-point cut there, said Duench. It would be the third cut this year after the central bank hiked rates to a two-decade high to fight inflation. The inflation report will be the last significant data point before the central bank’s decision, Duench said. If the inflation report shows price growth is proving more stubborn than expected, that could change the Fed’s thinking on rates next week, he said. “Maybe that's part of the reason we've seen churn in the market the last few days in the U.S.” Beneath the surface, there was some movement in the tech sector, where Oracle sank 6.7 per cent after its latest earnings report missed expectations. Meanwhile, Google's stock price rose by more than five per cent. The company on Tuesday unveiled its new chip meant for quantum computing. Duench said after the advent of artificial technology led a rally earlier this year, quantum computing could be another frontier for investors to keep an eye on. The Canadian dollar traded for 70.59 cents US compared with 70.77 cents US on Monday. The January crude oil contract was up 12 cents at US$68.59 per barrel and the January natural gas contract was down two cents at US$3.16 per mmBTU. The February gold contract was up US$32.60 at US$2,718.40 an ounce and the March copper contract was down less than a penny at US$4.27 a pound. — With files from The Associated Press This report by The Canadian Press was first published Dec. 10, 2024. 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Sean ‘Diddy’ Combs denied bail a third time as he awaits sex trafficking trialEvery year on Christmas Eve, nine reindeer pull Santa’s sleigh through the sky so he can deliver presents to children throughout the world. Their names are Dasher, Dancer, Prancer, Vixen, Comet, Cupid, Donner, Blitzen and Rudolph. In the popular song and film about Rudolph, the red-nosed reindeer is male, and the film implies the other reindeer are also male. But viral posts claim all of Santa’s reindeer are actually female because male reindeer lose their antlers in the winter. Some people online also claim real reindeer can have red noses like Rudolph, too. So is there more fact than fiction behind the legend of Santa’s sleigh team? Here are 3 VERIFIED facts about the real animals that inspired our favorite fictional reindeer. THE SOURCES U.S. Food and Drug Administration (FDA) The San Diego Zoo Craig Roberts , agricultural zoologist University of Alaska Fairbanks U.S. Fish & Wildlife Service 2012 study published in the BMJ online journal The Orlando Science Center Article published by Ohio State University’s College of Food, Agricultural and Environmental Sciences The Los Angeles Zoo and Botanical Gardens Article published by the University of Alaska Fairbanks The Buffalo Zoo WHAT WE FOUND 1. Are all of Santa’s reindeer female? THE ANSWER Sign up for the VERIFY Fast Facts newsletter here . There isn’t a clear-cut answer to this question. Santa’s reindeer could be female or castrated males. Unlike most other deer species, both male and female reindeer grow antlers every year, according to the U.S. Food and Drug Administration (FDA) and San Diego Zoo . Reindeer also shed their antlers every year, but the timing differs between males and females, our sources say. Male reindeer usually drop their antlers in the late fall and don’t regrow them until the following spring. Pregnant female reindeer, on the other hand, keep their antlers through winter until their calves are born in the spring, the FDA and San Diego Zoo say. Non-pregnant female reindeer lose their antlers in the winter, according to the University of Alaska Fairbanks and the U.S. Fish & Wildlife Service . But castration can impact when male reindeer lose their antlers. Craig Roberts, an agricultural zoologist and professor of social psychology at the University of Stirling in Scotland, says castrated males “ have antler cycles similar to those of females .” All of this means Santa’s reindeer could be female or castrated males, since they usually keep their antlers during Christmastime. 2. Can real reindeer have red noses? THE ANSWER There’s truth behind the legend of Rudolph’s red nose. Some real reindeer noses can turn a reddish color due to an adaptation that helps them survive in cold climates. A 2012 study examined the noses of two reindeer and five humans. It concluded the reindeer had a 25% higher density of blood vessels in their noses compared to humans. This helps reindeer keep their noses warm, allowing them to heat up incoming cold air before they breathe it in, according to the Orlando Science Center . The extra blood vessels also mean their noses can turn a reddish color. “Exposure to extreme cold or exercise increases blood flow, and with so many extra blood vessels in their noses, they can turn a light rosy color,” the Orlando Science Center says. 3. Do reindeer make clicking sounds? THE ANSWER A popular Christmas song called “Up on the Housetop” says Santa’s reindeer go “click, click, click.” Real reindeer that aren’t out delivering presents actually make clicking sounds, too. But that clicking doesn’t come from their hooves hitting the ground. The clicking sound happens when a reindeer’s tendons snap over bones in their feet when they walk, according to an article published by Ohio State University’s College of Food, Agricultural and Environmental Sciences . Both OSU and the Los Angeles Zoo and Botanical Gardens say biologists think the clicking sounds helps members of a reindeer herd stay together, especially in snowstorms where they cannot see each other.
Oregon beats San Diego State, improves to 7-0NEW YORK, Dec. 23, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Celsius Holdings, Inc. (NASDAQ: CELH) between February 29, 2024 and September 4, 2024, both dates inclusive (the “Class Period”), of the important January 21, 2025 lead plaintiff deadline. SO WHAT: If you purchased Celsius common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Celsius class action, go to https://rosenlegal.com/submit-form/?case_id=31677 or call Phillip Kim, Esq. at 866-767-3653 or email case@rosenlegal.com for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 21, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Celsius materially oversold inventory to PepsiCo, Inc. (“Pepsi”) far in excess of demand, and faced a looming sales cliff during which Pepsi would significantly reduce its purchases of Celsius products; (2) as Pepsi drew down significant amounts of inventory overstock, Celsius’ sales would materially decline in future periods, hurting Celsius’ financial performance and outlook; (3) Celsius’ sales rate to Pepsi was unsustainable and created a misleading impression of Celsius’ financial performance and outlook; (4) as a result, Celsius’ business metrics and financial prospects were not as strong as indicated in defendants’ Class Period statements; and (5) consequently, defendants’ statements regarding Celsius’ outlook and expected financial performance were false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Celsius class action, go to https://rosenlegal.com/submit-form/?case_id=31677 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.comWARMINGTON: Mayor who stood up to Pride group has bank account garnishedNone
Oregon beats San Diego State, improves to 7-0Technology stocks helped pull stocks lower on Wall Street Wednesday, handing the market its first loss in more than a week. The S&P 500 fell 0.4%, even though more stocks in the index notched gains than ended lower. The loss snapped a seven-day winning streak for the benchmark index. The Dow Jones Industrial Average fell 0.3%, its first loss after five gains. The Dow and S&P 500 remain near the all-time highs they set on Tuesday. The Nasdaq composite, which is heavily weighted with technology stocks, fell 0.6%. Losses for tech heavyweights like Nvidia, Microsoft and Broadcom were the drag on the market. Semiconductor giant Nvidia fell 1.2%. Its huge value gives it outsized influence on market indexes. Microsoft fell 1.2% and Broadcom finished 3.1% lower. Several personal computer makers also helped pull the market lower following their latest earnings reports. HP sank 11.4% after giving investors a weaker-than-expected earnings forecast for its current quarter. Dell slid 12.2% after its latest quarterly revenue fell short of Wall Street forecasts. Gains for financial and health care companies helped temper the market's losses. Berkshire Hathaway rose 0.9% and Merck & Co. added 1.5%. All told, the S&P 500 fell 22.89 points to 5,998.74, while the Dow dropped 138.25 points to 44,722.06. The Nasdaq fell 115.10 points to 19,060.48. Traders also had their eye on new reports on the economy and inflation Wednesday. The U.S. economy expanded at a healthy 2.8% annual pace from July through September, according to the Commerce Department, leaving its original estimate of third-quarter growth unchanged. The growth was driven by strong consumer spending and a surge in exports. The update followed a report on Tuesday from the Conference Board that said confidence among U.S. consumers improved in November, but not by as much as economists expected. Consumers have been driving economic growth, but the latest round of earnings reports from retailers shows a mixed and more cautious picture. Department store operator Nordstrom fell 8.1% after warning investors about a trend toward weakening sales that started in late October. Clothing retailer Urban Outfitters jumped 18.3% after beating analysts’ third-quarter financial forecasts. Weeks earlier, retail giant Target gave investors a discouraging forecast for the holiday season, while Walmart provided a more encouraging forecast. Consumers, though resilient, are still facing pressure from inflation. The latest update from the U.S. government shows that inflation accelerated last month. The personal consumption expenditures index, or PCE, rose to 2.3% in October from 2.1% in September. Overall, the rate of inflation has been falling broadly since it peaked more than two years ago. The PCE, which is the Federal Reserve's preferred measure of inflation, was just below 7.3% in June of 2022. Another measure of inflation, the consumer price index, peaked at 9.1% at the same time. The latest inflation data, though, is a sign that the rate of inflation seems to be stalling as it falls to within range of the Fed's target of 2%. The central bank started raising its benchmark interest rate from near-zero in early 2022 to a two-decade high by the middle of 2023 and held it there in order to tame inflation. The Fed started cutting its benchmark interest rate in September, followed by a second cut in November. Wall Street expects a similar quarter-point cut at the central bank's upcoming meeting in December. “Today’s data shouldn’t change views of the likely path for disinflation, however bumpy," said David Alcaly, lead macroeconomic strategist at Lazard Asset Management. "But a lot of observers, probably including some at the Fed, are looking for reasons to get more hawkish on the outlook given the potential for inflationary policy change like new tariffs.” President-elect Donald Trump has said he plans to impose sweeping new tariffs on Mexico, Canada and China when he takes office in January. That could shock the economy by raising prices on a wide range of goods and accelerating the rate of inflation. Such a shift could prompt the Fed to rethink future cuts to interest rates. Treasury yields slipped in the bond market. The yield on the 10-year Treasury fell to 4.25% from 4.30% late Tuesday. The yield on the two-year Treasury, which more closely follows expected actions by the Fed, fell to 4.22% from 4.25% late Tuesday. U.S. markets will be closed Thursday for Thanksgiving, and will reopen for a half day on Friday.