TSX dives back into the red after dismal third quarter

TORONTO — The Toronto stock market fell back into the red after a two-day respite from the kind of severe declines that saw many indexes turn in their worst quarterly performance in years.The S&P/TSX composite index closed down 65.07 points at 13,241.89, adding to the 8.5 per cent decline that Canada’s main index has endured since the end of June.The Dow Jones industrial average was down 12.69 points at 16,272.01, while the S&P 500 gained 3.79 points to 1,923.82 and the Nasdaq added 6.92 points to 4,627.08.As markets say good-bye to worst quarter in 4 years, analysts warn more trouble to comeOn commodity markets, the November contract for benchmark crude oil was down 35 cents at US$44.74 a barrel and November natural gas fell 9.1 cents to US$2.433 per thousand cubic feet. December gold lost $1.50 to US$1,113.70 an ounce, while December copper was down 3.7 cents at US$2.305 a pound.The loonie advanced 0.51 of a U.S. cent to 75.44 cents US after adding 0.4 of a U.S. cent on Wednesday. read more

Fans abuzz after NHL awards its 32nd franchise to Seattle

SEATTLE — John Barr understood it was likely a foregone conclusion and yet as NHL Commissioner Gary Bettman spoke nearly 3,000 miles away, he found himself getting emotional watching the televisions in the packed bar.Barr was among fans watching Tuesday morning as Seattle was awarded an NHL expansion franchise following a unanimous vote by the Board of Governors in Sea Island, Georgia, ending a lengthy dance between the league and the city that will finally see professional hockey return to the city. Seattle was the first U.S. city to win the Stanley Cup back in 1917. More than 100 years later, they’ll have that chance again.“I was always optimistic but I didn’t think it was ever a guarantee. Might have got a little watery eyed there,” said Barr, who has headed up the NHLtoSeattle.com website and been a voice for hockey fans in Seattle. “It’s been a long haul and there’s been some ups and downs but I think the wait is worth it.”The Seattle ownership group organized the watch party as a central gathering spot to celebrate the announcement and hand out swag a short distance from the Seattle Center, where the yet-to-be named team will begin play in a reconstructed Seattle Center Arena in 2021.“Is there a better hockey morning than this morning in Seattle?” said Mayor Jenny Durkan, who took a little of the suspense out of Bettman’s announcement by revealing the outcome of the vote about 10 minutes early. “This is just a great thing for Seattle and I’m so honoured to be part of it.”Dave Tippett, an adviser for the ownership group who had a front row seat for all the behind the scenes work that went into the pitch to the NHL, joined the fans in Seattle while his bosses were in Georgia.“It’s been coming a long time. The turning point for me, and this was before I was involved, was watching the season tickets go on sale and in 10 minutes sold 12,000 tickets,” Tippett said. “We knew there was an unbelievable following here so it’s been fun to get to know people here and get to experience some of the excitement of bringing a team here.”For now, the NHL will serve to satisfy Seattle’s winter sports itch that’s existed since the SuperSonics left for Oklahoma City in 2008. There’s also hope that the rebuilt arena and the foundation being laid by the NHL’s 32nd franchise will help bring the NBA back.If there was a tinge of disappointment, it came with the decision that the team won’t start until the 2021-22 season.The initial was hope for a 2020 start, but arena renovations may not be done in time. As it stands, team President Tod Leiweke said the hope is the building will open in the first quarter of 2021. The first team to call the facility home will likely be the WNBA’s Seattle Storm, before the NHL team begins in the fall.“I’ve been at this eight years so it’s going to be another two years for 2020, another one for 2021, I can do it,” Barr said. “They have all the information. I think it’s the right call. We want to launch this right.”___More AP NHL: https://apnews.com/NHL and https://twitter.com/AP_SportsTim Booth, The Associated Press read more