“Whoever Is Careless With Truth In Small Matters Cannot Be Trusted With Important Matters” – Albert Einstein
Don’t Forget, RRSP Deadline Is Wednesday March 1
TSX Tumbles, Dow Jones Continues Winning Streak
Canada’s largest stock market racked up its biggest one-day loss in five months in a broad-based decline across all sectors. The Toronto Stock Exchange’s S&P/TSX composite index dropped 247.73 points or 1.57% to 15,533.47, with energy, consumer staples and metals stocks bearing the brunt of the slump. The last time the commodity-heavy index registered a loss of such magnitude was last September, when it fell 248.04 points.
On the flip side, Wall Street finished in the positive after being negative throughout most of the session. The Dow Jones industrial average was ahead 11.44 points at 20,821.76 and the S&P 500 was up 3.53 points at 2,367.347. The tech-heavy Nasdaq composite rose 9.8 points at 5,845.31. In currencies, the Canadian dollar was slightly higher, up 0.03 of a cent at US76.28¢. The April crude contract dipped US46¢ at US$53.99 per barrel.
On the economic ledger, Statistics Canada reported that January’s consumer price index rose 2.1% on a year-over-year basis in January, following hiking 1.5% in December. On a seasonally-adjusted monthly basis, inflation moved up 0.7% in January, after increasing 0.4% in December.
Average Life Expectancies Could Push Past 90 Years
A new study by Imperial College London and the World Health Organization (WHO) has revealed that human life expectancies may increase by 2030. The study surveyed data from 35 industrialized countries. High-income countries represented in the study include the US, Canada and Germany, while the emerging economies include Poland, Mexico, and the Czech Republic. Among the countries surveyed, South Korea had the longest life expectancy at birth, for both men (84.1 years old) and women (90.8 years old). As for the countries with the longest life expectancy for 65-year-olds in 2030, Canada topped the rankings for men (22.6 additional life years), while South Korea had the longest expectancy for women (27.5 additional life years). South Korea’s promising outlook is due to a number of factors including good nutrition in childhood, low levels of smoking, and uptake of new medical knowledge and technologies.
The study also reveals the possibility of life expectancies breaching the 90-year barrier – something scientists used to think was impossible, noted Professor Majid Ezzati, lead researcher from the School of Public Health. “We repeatedly hear that improvements in human longevity are about to come to an end,” he said. “I don’t believe we’re anywhere near the upper limit of life expectancy – if there even is one.” “The fact that we will continue to live longer means we need to think about strengthening the health and social care systems to support an aging population with multiple health needs. This is the opposite of what is being done in the era of austerity,” said Ezzati. “We also need to think about whether current pension systems will support us, or if we need to consider working into later life.”
Sources: Bloomberg; Investment Executive; advisor.ca;