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TORONTO — Canada's main stock index gained more than 350 points Thursday in a broad rally led by energy and technology stocks, while U.S. markets also rose, led by a one-per-cent gain on the Dow. The S&P/TSX composite index closed up 354.22 points at 25,390.68. In New York, the Dow Jones industrial average was up 461.88 points at 43,870.35. The S&P 500 index was up 31.60 points at 5,948.71, while the Nasdaq composite was up 6.28 points at 18,972.42. The Nasdaq lagged an otherwise decent day for Wall St., rising just 0.03 per cent as it was dragged down by Google parent Alphabet and some of its tech giant peers. The tech company’s stock fell 4.6 per cent after U.S. regulators asked a judge to break it up by forcing a sale of the Chrome web browser. Amazon shares traded down 2.2 per cent while Meta and Apple both moved lower as well. After a substantial run for major tech stocks this year, that kind of news “shakes people a bit,” said John Zechner, chairman and lead equity manager at J. Zechner Associates. Meanwhile, semiconductor giant Nvidia saw its stock tick up modestly by 0.5 per cent after it reported earnings Wednesday evening. The company yet again beat expectations for profit and revenue, and gave a better revenue forecast for the current quarter than expected. But expectations for Nvidia have been so high amid the optimism over artificial intelligence that even beating forecasts wasn’t enough to send its stock flying the way it has in previous quarters, said Zechner. Nvidia essentially caps earnings season in the U.S., with companies largely beating expectations, said Zechner — though those expectations weren’t exactly lofty for companies outside the tech and AI sphere, he added. The Dow led major U.S. markets as the post-election hopes for economic growth continued to fuel a broadening of market strength, said Zechner. There are a lot of unknowns when it comes to U.S. president-elect Donald Trump, said Zechner, and there’s no guarantee he will do what he’s promised. “There’s a lot of unknowns, but for now the markets seem to be assuming that whatever comes of this, the U.S. will continue to lead global growth,” he said. However, some of Trump’s promises — chief among them widespread tariffs on imports — have sparked bets that inflation may rear its head again. The market has pared back its expectations for interest rate cuts as a result, said Zechner. “Nobody’s talking about a half-point cut, that’s for sure,” he said. The Canadian dollar traded for 71.63 cents US compared with 71.46 cents US on Wednesday. The January crude oil contract was up US$1.35 at US$70.10 per barrel and the January natural gas contract was up nine cents at US$3.48 per mmBTU. The December gold contract was up US$23.20 at US$2,674.90 an ounce and the December copper contract was down three cents at US$4.13 a pound. — With files from The Associated Press This report by The Canadian Press was first published Nov. 21, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian PressFormer President Jimmy Carter died at the age of 100 on Sunday, a little over a year after his beloved wife Rosalynn Carter passed away. Newsweek reached out to The Carter Center via email for comment on Sunday evening. Why It Matters Jimmy and Rosalynn were not only the 39th president and first lady but also leading human rights advocates through their Atlanta nonprofit, The Carter Center, created after the two left the White House. Also remarkable is the length of their love story. The two were married for 77 years before Rosalynn died in November 2023, the longest marriage in presidential history. The former first lady reportedly was Jimmy's closest adviser during his presidency and thereafter. What To Know Jimmy and Rosalynn, both from Plains, Georgia, wed on July 7, 1946, a year after their first date. In the summer of 1945, Jimmy, then-20 years old, asked Rosalynn, then-17 years old, out to the movies on a whim, People magazine reported. Jimmy originally popped the question in the winter of 1945, but Rosalynn was concerned about the speed at which their relationship was progressing and wanted to finish her education first, so she said no, according to Biography.com. But in the spring of that year, she agreed to marry him and Jimmy gave her a compact engraved with the letters "ILYTG," which stood for, "I love you the goodest," Biography.com reported. "The best thing I ever did was marrying Rosalynn," Jimmy said during an interview at The Carter Center in 2015. "That's the pinnacle of my life." The pair went on to have four children —Jack, Chip, Jeff, and Amy— as well as 11 grandchildren and 14 great-grandchildren. Jimmy and Rosalynn in the White House Jimmy, a Democrat, was elected to the White House in November 1976, thanks to the help of who people called his "secret weapon," Rosalynn, according to People magazine. Rosalynn told People in 1976, "I've made as many as 12 speeches a day in one community. I enjoy it. But sometimes I want to stop and wash my hair." Jimmy served one term as president from 1977 to 1981. Jimmy was credited with encouraging a peace agreement in the Middle East that ultimately resulted in the Camp David Accords, which the Office of the Historian at the U.S. Department of State described as "historic." The White House archives lists the Panama Canal treaties and an agreement between the U.S. and the Soviet Union restricting nuclear weapon production as some of Carter's biggest victories overseas. In the U.S., Carter pursued deregulation in a handful of industries, including energy and transportation, and pushed for new environmental protections. The U.S. Department of Education also launched during his time in office. Rosalynn was also busy in the White House, representing the administration during visits with Central and South American leaders, fundraising for displaced Cambodians, and sponsoring poetry and jazz festivals at the White House. She was also a vocal advocate for mental health, women's rights, and human rights. Post-Presidency Humanitarian Work In 1982, Jimmy and Rosalynn created The Carter Center in partnership with Emory University. The former first lady was Carter's "full partner" in their efforts at the nonprofit and she also created and chaired its Mental Health Task Force. The Carter Center was created "on a fundamental commitment to human rights and the alleviation of human suffering" and describes its continuing mission as seeking "to prevent and resolve conflicts, enhance freedom and democracy, and improve health." Rosalynn was also president of the board of directors for the Rosalynn Carter Institute for Caregiving, which supports those who care for loved ones with chronic illness and disabilities. Until 2020, Jimmy and Rosalynn volunteered one week a year for the nonprofit Habitat for Humanity, which helps renovate and build homes for those in need. Jimmy was recognized "for his decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development" with the Nobel Peace Prize in 2002. Rosalynn and Jimmy's Deaths Rosalynn died at the age of 96 on November 19, 2023, while in hospice care at her Plains, Georgia, home, months after The Carter Center announced that she suffered from dementia . Jimmy, who had been in hospice care since February 2023 , died Sunday. What People Are Saying Jimmy said in a statement released by The Carter Center when Rosalynn died, "Rosalynn was my equal partner in everything I ever accomplished." He added: "She gave me wise guidance and encouragement when I needed it. As long as Rosalynn was in the world, I always knew somebody loved and supported me." Chip Carter, Jimmy and Rosalynn's second eldest son who is now 72 years old , said in a statement released by The Carter Center Sunday, "My father was a hero, not only to me but to everyone who believes in peace, human rights, and unselfish love." He continued: "My brothers, sister, and I shared him with the rest of the world through these common beliefs. The world is our family because of the way he brought people together, and we thank you for honoring his memory by continuing to live these shared beliefs." What Happens Next There will be public funeral observances for the former president in Atlanta and Washington, D.C., as long as a private interment in Plains, Georgia. Final arrangements for his state funeral are still pending.
Investing in assets can put you in a better position by the time you’re ready to retire. While stocks and real estate have received plenty of attention over the years, gold remains a reliable investment that has been around for thousands of years. It’s an essential resource for many industries, is a medium of exchange and serves as a safe-haven asset during geopolitical unrest or periods of market volatility. Gold is a hedge against inflation and can thrive during economic uncertainty. That last advantage is a key distinction that separates it from stocks and real estate. However, physical gold doesn’t produce yield like dividend stocks or cash flow like investment properties. Fortunately, it’s still possible to use precious metals to generate retirement income. This guide will explain several ways to use gold for retirement income. Open a gold IRA A gold individual retirement account — or gold IRA — allows you to accumulate physical precious metals in a tax-advantaged account. You won’t have to worry about gold storage, as the IRA’s custodian will handle it. You can then cash out on your gold holdings when you need to cover living expenses. The IRS sets limits for how much you can contribute to an IRA, whether it’s a conventional or gold IRA. If you make the maximum contribution to a gold IRA, you can’t contribute to another IRA. The maximum contribution for traditional and Roth IRAs is currently capped at $7,000 per year for those age 49 and younger. The IRS raises this limit periodically, but you can make catch-up contributions if you are 50 years or older. Catch-up contributions allow you to invest an additional $1,000 into your IRA each year. Anyone can open a Roth IRA, but your modified adjusted gross income must be below $146,000 to contribute the full amount. Investors who earn too much for a Roth IRA can use the backdoor method to fund it. This involves moving funds from a traditional IRA — which doesn’t have income restrictions — to a Roth IRA. Some gold IRA providers give you the flexibility to set up traditional and Roth IRAs. Learn more by reading our guide to the best gold IRA companies . Invest in gold stocks and gold ETFs Gold stocks are easier to buy and manage than physical gold. You also wouldn’t need a separate IRA just for gold investments. However, gold stocks can underperform the precious metal due to several factors. For instance, Newmont Corp. — the world’s largest gold mining company — has only seen its stock gain 13% over the past five years, failing to keep pace with gold prices , which have gained more than 70% during the same period. Varying financial performances and opportunities result in gold stocks having different results than physical gold. Investors have to trust that a company will make good business decisions instead of leaning exclusively on the long-term reliability of gold. However, gold stocks have an edge with liquidity, especially if you want to receive dividends. For example, Newmont has a dividend yield above 2%, and it’s not the only gold stock that offers a good dividend. Some people prefer to avoid the complexities of converting physical gold into cash and opt for dividends and stocks instead. Some gold exchange-traded funds also produce yield, which help generate income in retirement. These gold ETFs hold baskets of gold mining companies, whereas some gold ETFs are backed by physical gold and do not pay dividends. Similar to gold stocks, gold ETFs have also lagged the gains of physical gold. For example, while the VanEck Gold Miners ETF has a dividend that yields around 1.34%, it gained 41.55% over the past five years compared to the 70% return for physical gold. Buy physical gold and exchange it when necessary It takes more time to buy physical gold than buying a stock, including finding a reputable and trustworthy gold dealer . Physical gold isn’t as liquid, and you are responsible for storage (and optional gold insurance , as well). However, a key advantage of physical gold is that you claim full ownership of the asset. While gold ETFs and IRAs give you exposure to gold and better liquidity, buying the physical asset gives you the most control. Some people value having control over the asset instead of trusting a custodian, gold miner or fund manager. Luckily, physical gold commands a lot of value without taking up much space. A kilogram of gold is smaller than most iPhones, and an ounce of gold is about half the size of an iPhone. It’s easy to hide and move gold around if needed, but it’s still good to find professional storage and get it insured in case something happens. Physical gold should continue to gain value due to inflation. Then, you can sell your gold bars and coins when you need extra retirement funds. Should gold be a part of your retirement strategy? Putting all of your eggs in one basket is very risky, and that’s why many experts recommend diversifying your portfolio. Gold can be a valuable part of the mix, as its returns aren’t correlated to the stock market. The prices of precious metals can hold steady or gain value when stocks and real estate enter corrections. And while expert opinions on gold vary, many agree that investors shouldn’t allocate more than 5-10% of their portfolio to the precious metal. This amount of exposure provides a good buffer against inflation while allowing you to allocate funds to other asset classes. IRAs are attractive options for gold investors who want to capitalize on tax benefits while growing their portfolios. Conventional IRAs reduce your present taxable income, while Roth IRAs shield you from taxes on your distributions and capital gains. While those types of accounts can hold gold-backed equities like stocks and ETFs, only gold IRAs can hold precious metals. Investors should assess their long-term goals and financial situations before accumulating gold.
After threatened to strip ’s and forced the network into a , the president-elect’s pick to lead the warned its parent company that Americans “no longer trust the national news media to report fully, accurately, and fairly.” In a letter to ’s CEO , Brendan Carr lamented the “erosion in public trust” in news media, and suggested ABC was partially to blame. Carr — who on the — said the agency would be “monitoring” ABC’s negotiations with local television stations that carry its programming. The letter, , appears to be using the issue of network affiliate agreements as a way to target media outlets — signaling how ’s incoming FCC will be going after a press he has long demonized and litigated against. It is unclear whether Carr issued letters to other networks. has requested comment from ABC and Trump’s transition team. Carr suggested ABC is attempting to “extract onerous financial and operational concessions” from local broadcasters under the threat of “terminating” their agreements, “which could result in blackouts and other harms to local consumers of broadcast news and content,” according to Carr. “I want you to know that I will be monitoring the outcome of your ongoing discussions with local broadcast TV stations to ensure that those negotiations enable local broadcast TV stations to meet their federal obligations to serve the needs of their local communities. A fair agreement would do just that,” Carr wrote. The letter dated December 21 was sent days after Trump and ABC against the network and anchor George Stephanopoulos, who was sued for stating that Trump was found “liable for rape by a jury” during a segment that aired in March. The $15 million settlement goes towards Trump’s presidential library. Stephanopoulos mischaracterized the jury’s precise findings in a long-running legal battle involving allegations that Trump sexually assaulted E Jean Carroll in a department store in New York in the 1990s, and then defamed her by saying she was lying about it. A jury found Trump liable for sexual abuse, not “rape” under the definition in New York’s penal law, though the federal judge overseeing the case had . Trump’s s, despite relying on media outlets to elevate his brand and political profile, has while pressuring lawmakers to . He has suggested that journalists and publishers should be jailed for shielding their sources, repeatedly threatened to yank TV broadcast licenses, and filed taking aim at First Amendment protections enshrined by the Supreme Court’s long-standing precedent in . Days before Election Day, Trump . Last week, he filed a lawsuit accusing a longtime . Kash Patel, Trump’s pick to lead the FBI, has openly fantasized about prosecuting journalists. “Yes, we’re going to come after the people in the media who lied about American citizens, who helped Joe Biden rig presidential elections — we’re going to come after you,” . “Whether it’s criminally or civilly, we’ll figure that out.” Last month, Carr criticized the appearance of Vice President Kamala Harris on NBC’s , “a clear and blatant effort to evade the FCC’s Equal Time rule.” NBC later aired a message from Trump. He also recently to the chief executives of Google, Microsoft, Meta and Apple, accusing the companies of being members of a “censorship cartel” that included “advertising, marketing, and so-called ‘fact-checking’ organizations as well as the Biden-Harris Administration itself.” He has called fact-checking organization NewsGuard “Orwellian.”