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September 29, 2022

Economy

Dow enters a bear market After plummeting more than 600 points, close to breaking the line

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

The Dow continues to plummet today. Most recently, it dropped more than 600 points, nearing a drop of 29,000 following the United States said its gross domestic product (GDP) has contracted for two consecutive quarters. This indicates that the US economy has entered a technical recession.

As of 9:20 p.m. GMT, the Dow Jones Industrial Average was 29,079.53, down 604.21, or 2.04%, while the S&P 500 is down 2.56% and the Nasdaq is down 3.3%.

The Dow has entered a bear market following falling more than 20 percent from its record high in January.

In addition, the Dow is down 7% from the beginning of September. The S&P 500 and Nasdaq were down 7.5% and 8.4%, respectively.

According to the CFRA Research Institute, statistics indicate that September was Wall Street’s worst month of the year.

In addition, the CFRA pointed out that this year, which is the year of midterm elections in the United States, Will make the Wall Street stock market more likely to fall in September. This is because investors tend to sell heavily in September and October in the election year. before returning to buy shares in the 4th quarter

All stocks in the market are down today. led by real estate stocks Because it is a group that has been heavily affected by the Federal Reserve’s (Fed) interest rate hike.

The CBOE Volatility Index (VIX), a measure of investor anxieties in the US stock market, rose 10.40 percent to 33.32 points today.

Apple shares fell more than 4 percent following media reports it had canceled plans to increase production of the iPhone 14 due to lower-than-expected market demand.

The Commerce Department released its final estimate for second-quarter gross domestic product (GDP) today, saying the US economy contracted 0.6% in the quarter. It was unchanged from the second estimate, while the first estimate showed the economy contracted 0.9%.

Earlier, the US Department of Commerce said The US economy contracted 1.6% in the first quarter.

The economy contracted for 2 consecutive quarters. put the US into a technical recession.

Fed Chairman Jerome Powell said earlier that Fed Fed’s Mission to Control Inflation May affect the economic growth of the United States. And he won’t consider a rate cut until he’s confident that inflation figures fall toward the Fed’s target of 2%.

The market is also pressured by the return of the dollar. and the rebound in US government bond yields today.

The Dow jumped more than 500 points yesterday, bolstered by the dollar’s depreciation. and the decline in US government bond yields After the Bank of England (BoE) announced an unlimited purchase of government bonds to stabilize the market.

However, today’s return to the dollar has raised investors’ fears that it will hurt the bottom line of listed companies with foreign earnings. The rebound in US 10-year bond yields used as a reference for global bond prices. This includes the interest rate on the mortgage loan. causing investors to worry regarding the cost of debt repayment of listed companies

In addition, investors were worried that today’s strong labor market data release would be a boost to the Fed’s accelerating interest rate hikes.

The Labor Department reported that initial claims for unemployment benefits fell 16,000 to 193,000 last week. which is the lowest level since April and the analysts are expected to increase to 213,000.

The number of claims for unemployment benefits is below 215,000, the weekly average for the pre-COVID-19 pandemic in the United States.

Meanwhile, the US Department of Labor reported that The number of Americans who continued to claim unemployment benefits fell 29,000 to 1.35 million.

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Health

Jeff Petry openly criticized the Canadian and his desire to win

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

When Jeff Petry left Montreal, it was at his request. It was he who asked Jeff Gorton, during the holidays, to leave the Canadian in the direction of an American club.

Obviously, the fact that the CH lost and that Dominique Ducharme was not exactly his best friend are factors that did not play in favor of management, but there is above all the fact that his wife no longer liked Montreal. .

We know that she openly criticized Montreal’s sanitary measures and that she left Quebec in the middle of the season, leaving Petry alone in town to finish the CH regular season.

It had caused a lot of talk, but the dust had settled. After all, the transaction took place this summer and how Mike Matheson started his training camp helps to pass the pill, let’s say.

Jeff Petry is so happy in Pittsburgh as he is now at the stage of defending his teammates in a pre-season game via a punch which relieved him of US$5,000 in his wallet. That’s a nasty change of tone. #SamuelMontembeault #ZackKassian

But what catches the eye in Montreal is the way the former CH has spoken to the media recently.

Petry, the number of years spent in Montreal, knows that his statements have repercussions. But that, he has nothing to do since he is at the Penguins if we trust his words.

Asked regarding his new start, he said he was very happy (which is correct, of course), but he added it by saying he was happy to play in an environment where the standards are higher.

I’m happy to be in an environment where simply “making the playoffs” is not enough and where we aim for the Stanley Cup every year. –Jeff Petry

Really, Jeff?

Of course, you will understand that the defender was slammed by the good Tony Marinaro on BPM Sports this morning. Jean-Charles Lajoie’s columnist spoiled himself.

Marinaro recalled, correctly, that Petry asked to leave and that Kent Hughes, who was not obliged to do so, accommodated him. Hughes might have just kept him, but he sent him somewhere else.

The CH showed class and this is how he thanks the Canadian?

Note also that the famous “anything can happen in the playoffs”, was Marc Bergevin’s phrase. Kent Hughes, he wants to do like the Penguins, that is to say, build a club that can win every year.

But Petry didn’t give him time because his wife wanted to leave because of the pandemic, but also, as Marinaro said, because of the French in Quebec. She mightn’t figure it out following six years here.

Because it ended well with Montreal for him (in the sense that he got what he wants), he might have simply passed his turn and thanked the CH, but he decided to add to it unnecessarily.

Petry missed a great opportunity to shut up. After all, he really didn’t have a great 2021-2022 season and he got what he wanted. In the conditions, the CH therefore deserves more than that.

Personally, what I often remember regarding Petry is that he himself signed, without being forced, a contract extension with the Canadiens (until 2025) in September 2020. In 2020, the pandemic had begun.

Did he think it was going to last only six months?

The CH made it to the final and when they had to replace Shea Weber as the #1 right-handed defender the following year, they weren’t able. He blamed others (on Dominique Ducharme, in particular) and left.

I liked Petry during his stay in town (he was very good for the club), but let’s say that his comments yesterday sickened me.

A lot of

– Josh Anderson trains with the others.

– Where Grandpa hides the fudge. Why deny a classic?

– What do you think?

– To monitor.

– Who will take their place?

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Entertainment

A first novel for Ghislain Labelle

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

Bouchervillois Ghislain Labelle will soon launch his first novel La petite brise la glace.
The plot takes place at the turn of the 1970s, in a small industrial town, a working-class district, where everyone tries to rise above their condition, sometimes with talent, often with weakness.
It is a family and social novel, where the drama of small domestic miseries is illuminated by the somewhat cynical humor of a singularly unlucky narrator.
Originally from Saint-Jérôme, the author, who now lives in Boucherville, is a writer, reviser, linguistic consultant and professional musician.
The launch of her book will take place on October 1 from 2 p.m. to 5 p.m., at the café-bar Le boudoir, 850, avenue du Mont-Royal Est, in Montreal.
The novel is on sale at the Librairie au Carrefour, at the Promenades Montarville, in Boucherville.

Information: [email protected]

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world

Putin: Nord Stream leak was an act of international terrorism

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

September 29, 2022 23:11

Russian President Vladimir Putin said Thursday that the “unprecedented sabotage” targeting two Nord Stream gas pipelines was an “act of international terrorism,” the Kremlin said.
And the Nord Stream 1 and 2 pipelines, which transport gas from Russia to Europe, were subjected to explosions that led to a gas leak in the Baltic Sea.
“(Putin) expressed his view of this unprecedented act of sabotage, which is an act of international terrorism once morest Nord Stream 1 and Nord Stream 2,” a statement from the Russian presidency said.
Putin made the remarks in a phone call with his Turkish counterpart Recep Tayyip Erdogan.
The Kremlin also said it was necessary to honor the agreement to remove barriers to the export of Russian food and fertilizer supplies to world markets.
Russia and Ukraine signed an agreement, brokered by the United Nations and Turkey, allowing the export of Ukrainian grain, fertilizer and Russian agricultural products.
The Turkish president’s office said the latter had pressured Putin to take steps to reduce tension in Ukraine, urging him to extend the agreement to protect grain exports in the Black Sea.
Erdogan also referred to Moscow’s plans to integrate four Ukrainian regions into Russia, and asked Putin to give peace negotiations another chance, according to Ankara’s statement regarding the phone call between the two presidents.
The agreement, which allows grain exports, is due to expire in late November and can be renewed with support from Russia and the three other parties to the agreement.

Source: agencies