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Winter Storm Near Miss: Southern Ontario Could Still See Heavy Snow

  A major winter storm developing across the central United States is expected to track close enough to southern Ontario this weekend to bring the risk of significant snowfall. While the core of the system is projected to remain south of the border, its northern edge may still sweep across regions from Windsor to the Greater Toronto Area. Forecasters say the exact path remains uncertain, but current projections suggest that areas along and south of Highway 401 could see notable accumulations if the storm shifts even slightly north. Some models indicate the potential for 10–20 centimetres of snow, with locally higher amounts possible if lake‑enhanced bands develop. The storm threat comes as southern Ontario braces for a surge of bitter cold. Wind chills dipping into the minus twenties may precede the system, creating conditions that could intensify snowfall rates and make travel more difficult. Meteorologists continue to monitor the storm’s trajectory closely. Residents are enco...
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Mixed Bank Earnings Offset Cooler-Than-Expected Inflation News

 


On Friday, January 12th, 2024, the US stock market closed with little change as mixed bank earnings offset cooler-than-expected inflation news that buoyed hopes for interest-rate cuts from the Federal Reserve. The Dow Jones Industrial Average fell 118.04 points, or 0.31%, to 37,592.98. The S&P 500 gained 3.59 points, or 0.08 %, at 4,783.83 and the Nasdaq Composite rose 2.58 points, or 0.02%, to 14,972.76.

Bank of America’s fourth-quarter profit shrank as the lender took $3.7 billion in one-off charges. Wells Fargo’s warning of a 7% to 9% drop in net interest income in 2024 sent the bank’s shares down 3.34%. UnitedHealth fell on higher-than-expected medical costs. Tesla fell after flagging output hit from Red Sea disruption.

The data showed U.S. producer prices unexpectedly fell in December as the cost of goods such as food and diesel fuel declined, while prices for services were unchanged for a third consecutive month, in contrast to Thursday’s hotter-than-expected consumer inflation reading. Expectations for a rate cut of at least 25 basis points by the Fed in March moved up to 79.5%, according to CME’s FedWatch Tool, from 73.2% in the prior session.


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