SALT LAKE CITY (AP) — The Utah Hockey Club signed forward Dylan Guenther to an eight-year extension worth $57.14 million on Friday.
Guenther will count just over $7.14 million annually against the salary cap over the term of the contract that runs through the 2032-33 NHL season. The 21-year-old is one of the youngest building blocks for the team that was known until earlier this year as the Arizona Coyotes and is now based in Salt Lake City.
“Dylan is elite in every aspect on and off the ice,” Utah general manager Bill Armstrong said. “He is a young, highly skilled forward with a shot that’s evolving into one of the best in the NHL. He’s also a first-class person with a strong determination to be great. We look forward to having Dylan as a core player for this organization for many years to come.”
Guenther split last season between Arizona and the American Hockey League’s Tucson Roadrunners. He had 18 goals and 17 assists for 35 points in 45 NHL games with the Coyotes.
“There isn’t a better example than Dylan when we talk about the combination of talent and character that we are so excited to build a new franchise with here in Utah,” president of hockey operations Chris Armstrong said. “Today is another exciting day for our organization and our fans who will come to love Dylan, not just as a hockey player but as a member of our community.”
Guenther, an Edmonton, Alberta, native, who also played his junior hockey there, was the ninth pick in the 2021 draft. He has 50 points in 78 career games since breaking into the league.
“This is a very happy day for me and my family,” Guenther said. “Everything about this organization is on the right track, and I know we have an opportunity to do some special things here for a long time. Utah is where I want to be, and I’m proud to commit to my teammates and the organization long term.”
Guenther is now signed longer than any other player in the organization, surpassing defenseman Mikhail Sergachev, who was acquired in an offseason trade from Tampa Bay and is under contract through 2031. Forward Clayton Keller and defenseman Sean Durzi are each signed through 2028.
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FILE - Arizona Coyotes right wing Dylan Guenther (11) celebrates his goal against the Vancouver Canucks during the third period of an NHL hockey game Wednesday, April 3, 2024, in Tempe, Ariz. (AP Photo/Ross D. Franklin, File)
TOKYO (AP) — Global shares were mostly higher Friday after worsening tensions in the Middle East sent stocks lower on Wall Street while boosting crude prices.
France's CAC 40 gained 0.5% to 7,511.38 in early trading, while Germany's DAX edged up 0.1% to 7,511.38. Britain's FTSE 100 slipped 0.3% to 8,254.52. U.S. shares were set to drift lower, with Dow futures down nearly 0.1% at 42,291.00. S&P 500 futures were little changed at 42,291.00.
Japan's benchmark Nikkei 225 edged up 0.2% to finish at 38,635.62. Australia's S&P/ASX 200 slipped 0.7% to 8,150.00. South Korea's Kospi added 0.3% to 2,569.71. Hong Kong's Hang Seng jumped 2.8% to 22,736.87. Trading was closed in Shanghai for a holiday.
In currency trading, the U.S. dollar edged down to 146.38 Japanese yen from 146.83 yen. The euro inched up to $1.1030 from $1.1034.
Japanese Prime Minister Shigeru Ishiba, who took office on Tuesday, gave a policy speech that promised salary increases for workers that exceed inflation, as well as an economic package that will give support for low-income households. He also said he will promote investment to create “a virtuous cycle of growth and distribution.”
Following a meeting between Ishiba and Bank of Japan Gov. Kazuo Ueda, “it was indicated that Japan is unlikely to make any near-term adjustments to its ultra-loose monetary policy,” according to Luca Santos, currency analyst at ACY Securities.
Ueda indicated the loose monetary policy would remain for some time. The Bank of Japan has begun very gradually raising its benchmark rate from near zero. It now stands at around 0.25%.
Expectations of rising rates had pushed the yen higher after the Liberal Democrats elected Ishiba to head the governing party and thus serve as prime minister. But the yen has fallen back against the dollar in the past two days after officials sent clear signals that they did not favor further rate hikes at this time.
A cheaper yen could work as a plus for Japan's giant exporters like Nintendo and Toyota by boosting the value of their overseas earnings. But it raises the cost of imports of oil and other vital commodities, pushing domestic prices higher and pinching household spending.
Benchmark U.S. crude added 62 cents to $74.33 a barrel. Brent crude, the international standard, jumped 69 cents to $78.31 a barrel. On Thursday, Brent leaped 5% after starting the week below $72. It’s potentially on track for its biggest weekly percentage gain in nearly two years.
The rise came after President Joe Biden suggested on Thursday that U.S. and Israeli officials were discussing a possible strike by Israel against Iranian oil facilities.
“We’re in discussion of that,” Biden said to reporters. He added: “I think that would be a little ... anyway,” without finishing the thought. Biden also said he doesn’t expect Israel to retaliate immediately against Iran.
Iran is a major oil producer, and a broadening of the fighting could choke off Iran’s oil flows to China and also affect neighboring countries that are integral to crude supplies. Helping to keep prices in check, though, are signals that oil inventories remain ample at the moment. Brent crude fell to its lowest price in nearly three years last month.
A report Thursday showed growth for real estate, health care and other U.S. services businesses accelerated to its strongest pace since February 2023.
A separate report suggested the number of layoffs across the United States remains relatively low. Slightly more workers filed for unemployment benefits last week, but the number remains low compared with history.
Outside of this week’s worries about the Middle East, the dominant question hanging over Wall Street has been whether the job market will continue to hold up after the Federal Reserve earlier held interest rates at a two-decade high. The Fed wanted to press the brake hard enough on the economy to stamp out high inflation.
Stocks are near their records because of hopes the U.S. economy will indeed continue to grow, now that the Fed is cutting interest rates. The Fed last month lowered its main interest rate for the first time in more than four years and indicated more cuts will arrive through next year.
AP Business Writer Stan Choe contributed.
FILE - People pass the New York Stock Exchange on Oct. 1, 2024, in New York. (AP Photo/Peter Morgan, File)
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Ahn Young-joon)
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Ahn Young-joon)
Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Ahn Young-joon)
