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Daily Markets Update: Nasdaq Hits Record as Yields Top 5.3%, TSX Flat, Loonie Near 70¢

  S&P/TSX 35,518.55 +0.04% S&P 500 7,773.99 +0.66% Nasdaq 27,477.31 +1.05% Brent US$100.42 -1.8% USD/CAD 1.4250 Flat US 10-yr 5.315% +3.8 bp Monday, October 5 close, with Asia’s Tuesday session. Wall Street’s tech rally pushed the Nasdaq to a fresh record on Monday even as long-term bond yields kept climbing: the U.S. 10-year Treasury yield settled at 5.315%, a new 52-week high. Canada’s TSX barely moved, with tech gains offsetting a slide in energy and financials, and Cenovus fell after unveiling a C$5.7-billion takeover of Athabasca Oil. Oil dropped nearly 2% as G7 emergency stock releases and rising Middle East exports eased supply fears, and the loonie hovered near 70 U.S. cents, close to its weakest level in about 18 months. Canada: TSX Flat as Tech Offsets Energy Index / Stock Close Change S&P/TSX Composite 35,518.55 +0.04% Shopify (SHOP) — +5.7% Athabasca Oil (ATH) — +13.5% Cenovus Energy (CVE) C$44.86 -3.0% Suncor Energy (SU) — -1.2% The TSX added 15.90 points ...
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Canada Pension Plan: Everything You Need to Know

 


  • The Canada Pension Plan (CPP) is a monthly, taxable benefit designed to supplement your income during retirement.
  • CPP payments are not automatic — you must apply. To qualify you must: be at least 60 years old and have made at least one valid contribution to the CPP.
  • The amount of your retirement pension depends on different factors, such as the age you decide to start your pension, how much and for how long have you contributed to the CPP, and your average earnings throughout your working life.
  • In 2024, if you commence your pension at the age of 65, the highest monthly payout could be $1,364.60. The typical monthly payment for a new retirement pension initiated at age 65, as of October 2023, stood at $758.32.
  • CPP payments go out every month. The first payment of 2024 took place on January 29.
  • If you’re eligible for Canada’s pension plan, you could qualify for over $1,300 per month.
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