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Prime Minister Narendra Modi, on Friday, paid tribute to Dr. B R Ambedkar, the primary architect of the Indian Constitution, on his death anniversary. Modi acknowledged Ambedkar's relentless struggle for equality and human dignity, which continues to inspire future generations. Ambedkar, who hailed from a Dalit family, emerged as a significant political figure in India, championing the rights of the underprivileged and marginalized sectors of society. His efforts played a crucial role in shaping modern India's socio-political landscape. Expressing his respect on Mahaparinirvan Diwas, Modi described Dr. Ambedkar as a beacon of social justice. Reflecting on his visit to Chaitya Bhoomi earlier this year, the Prime Minister reiterated his commitment to Ambedkar's vision of equality and justice for all. (With inputs from agencies.)
TORONTO — Canada's main stock index rose Thursday, helped by strength in energy and utilities stocks, while U.S. markets moved lower ahead of reports on the labour market on both sides of the border. The S&P/TSX composite index closed up 38.86 points at 25,680.04. In New York, the Dow Jones industrial average was down 248.33 points at 44,765.71. The S&P 500 index was down 11.38 points at 6,075.11, while the Nasdaq composite was down 34.86 points at 19,700.26. Friday will bring the monthly jobs reports in both the U.S. and Canada, which markets will be eyeing for clues on upcoming interest rate decisions by central banks, said Kevin Headland, co-chief investment strategist at Manulife Investment Management. The U.S. Federal Reserve has several key data reports coming before it makes its own decision on Dec. 18, said Headland, including inflation. Markets are currently leaning toward a quarter-percentage-point cut from the Fed, he said. But “there’s a lot of data for them to digest before the announcement.” The Bank of Canada’s decision is next week, and Headland said markets seem to think there’s a good chance the central bank could cut by an outsized half-percentage point. “In my belief, the bank is trying to front-run the mortgage renewals that are coming due over the next year or so, to just avoid some of the bigger hits to discretionary spending,” said Headland. “There’s no reason for them not to continue rate cuts unless there’s a surprise tomorrow.” Canadian bank earnings continued to roll in on Thursday. CIBC saw its profit rise while its provisions for loan losses dropped. TD also saw its profit rise, though its adjusted earnings were lower as the bank continues to work through the fallout from its anti-money laundering deficiencies. Meanwhile, BMO’s earnings were a miss on analyst expectations but the bank said it expects loan performance to improve in 2025. So far, there haven’t been any major surprises from bank earnings overall, said Headland. Bitcoin continued its meteoric rise, briefly breaching US$100,000 for the first time after U.S. president-elect Donald Trump tapped crypto advocate Paul Atkins to head the Securities and Exchange Commission. “US$100,000 is definitely a psychological threshold,” said Headland. “I guess time will tell whether it can remain at that level,” he added. “If we’re getting downside pressure to risk assets, I would assume that Bitcoin and other companies will be swept up in that negativity.” But for now, the surge is indicative of the broader positive momentum markets have enjoyed since Donald Trump’s election, said Headland. The Canadian dollar traded for 71.24 cents US compared with 71.09 cents US on Wednesday. The January crude oil contract was down 24 cents at US$68.30 per barrel and the January natural gas contract was up four cents at US$3.08 per mmBTU. The February gold contract was down US$27.80 at US$2,648.40 an ounce and the March copper contract was down a penny at US$4.19 a pound. — With files from The Associated Press This report by The Canadian Press was first published Dec. 5, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian PressMidAtlantic Capital Management Inc. Makes New Investment in JPMorgan Chase & Co. (NYSE:JPM)
Onex Corporation Announces Exemptive Relief in Substantial Issuer BidNoneArticle content Last month, a central Edmonton community was on edge after a home was destroyed by arson and notes were left demanding money. Jacqueline Petrie, who lives in the Cloverdale community, said many around the neighbourhood are “unsettled.” “People are rightfully frightened. They’re worried — how random is this, and how do you protect yourself, short of sitting awake in your house, monitoring the front and back of your home? You can do some things, but you can’t be vigilant 24-7,” Petrie told Postmedia last month. Police found handwritten notes at neighbouring homes demanding bitcoin money transfers, and investigators have since connected the notes to a similar fire in the Holyrood neighbourhood in September. Investigators believe these 24 arson cases aren’t related to Bitcoin extortions, or to the series of arson cases that are part of Project Gaslight — a string of arsons targeting homebuilders in Edmonton’s South Asian community, which police said have ties to India. Bookmark our website and support our journalism: Don’t miss the news you need to know — add EdmontonJournal.com and EdmontonSun.com to your bookmarks and sign up for our newsletters here. You can also support our journalism by becoming a digital subscriber. Subscribers gain unlimited access to The Edmonton Journal, Edmonton Sun, National Post and 13 other Canadian news sites. Support us by subscribing today: The Edmonton Journal | The Edmonton Sun.
Several Nasdaq-listed companies have delivered remarkable returns in 2024, with one standout performer making investors significantly wealthier. What Happened : According to Benzinga Pro , several Nasdaq-listed companies have delivered impressive returns in 2024. Quantum Computing Inc. QUBT tops the list with a staggering 1,756.12% increase. It recently signed a significant contract with NASA’s Goddard Space Flight Center for advanced imaging and data processing. Despite this surge, analysts from Ascendiant Capital have set a price target of $8.5, suggesting a potential downside of 51.02%. MicroStrategy Inc. MSTR saw a 450.14% rise, driven by its strategic Bitcoin BTC/USD acquisitions, which have significantly increased its asset-backed value. According to bitcointreasuries.net, the company now holds 444,262 BTCs, valued at over $41.74 billion . Analysts from Bernstein, TD Cowen, and Barclays have set an average price target of $546.67, indicating a 64.51% potential upside. See Also: America’s ‘Fatal Flaw’ Is Its ‘Sharply Increasing Addiction’ To Government Debt, Says Expert And The ‘Mother Of All Bubbles’ Is Ready To Pop Palantir Technologies Inc. PLTR achieved a 356.39% gain, bolstered by strong government revenue and a substantial contract extension with the U.S. Army, potentially worth $618.9 million over four years. However, the average analyst price target of $64.67 implies a 19.20% downside. NVIDIA Corp NVDA experienced a 183.42% increase, fueled by robust growth in its AI and data center sectors. The company’s commitment to expanding production capacity underscores confidence in continued revenue growth. Analysts from DA Davidson, Phillip Securities, and Truist Securities suggest a 10.53% upside with an average price target of $154.67. Powell Industries Inc. POWL reported a 162.45% rise, supported by favorable analyst ratings and a consensus price target of $312, reflecting optimism in its market performance. The most recent analyst rating for Powell Industries came from Roth MKM on December 11, setting a price target of $312, which implies a 33.6% upside potential for the stock. Multibagger stocks are equities that yield exceptional returns, often doubling or more in value within a year. These stocks are prized by investors for their potential to significantly grow wealth over a relatively short period. The term was first coined by Peter Lynch in his book “One Up on Wall Street.” Read Next: Celebrities Like Ellen DeGeneres, David Beckham And Simon Cowell Have Turned England’s Idyllic Cotswolds Disclaimer : This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors. Image via Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Zelpultide alfa by Airway Therapeutics for Bronchopulmonary Dysplasia: Likelihood of Approval
