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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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Heat Wave Continues: Record-Breaking Highs and Global Impact

 

The scorching heat wave gripping much of the United States shows no signs of relenting. As forecasters issue warnings about record-breaking temperatures, millions of Americans find themselves under heat advisories. Here’s what you need to know:

U.S. Heat Wave Highlights

  • Affected Regions: The extreme heat has shifted from the Midwest and Ohio Valley into the Mid-Atlantic states. Approximately 100 million people, particularly along the I-95 corridor on the East Coast, are feeling the heat.
  • Temperature Projections: While parts of the Northeast may experience cooler temperatures in the 70s and 80s, the mid-Atlantic region is forecasted to reach the mid-90s and possibly even the 100s. New York City’s heat index could reach 103, Philadelphia’s 110, and Washington, D.C.'s 110.
  • Southwestern U.S.: Southern California, Arizona, and Nevada are also bracing for temperatures above 100°F. Meteorologists predict “monsoon-like” conditions in the region.
  • Health Impact: Emergency room visits related to heat have surged in the hardest-hit U.S. regions. Reliable air conditioning is crucial for coping with this prolonged heat.

Global Heat Trends

  • Europe: Serbia recorded temperatures of 104°F, while forest fires raged in Greece and Portugal. The European Union’s climate change monitoring service reports 12 consecutive months of record warmth.
  • Southeast Asia: The heat wave triggered school closures and health warnings.

Stay safe, stay hydrated, and seek shelter from the scorching sun. Let’s all work together to beat the heat! 


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