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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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Conservatives Leverage Singh's Critique in Non-Confidence Motion


In a strategic move, the Conservative Party plans to introduce a non-confidence motion next week, utilizing NDP Leader Jagmeet Singh's own words to challenge the minority Liberal government. The motion quotes Singh's criticism of the Liberals, accusing them of succumbing to corporate greed by ordering binding arbitration in labor disputes involving the nation's largest rail yards.

The proposed motion aims to persuade New Democrats to join forces with the Conservatives, declaring a loss of confidence in Prime Minister Justin Trudeau and his government. If successful, this motion could trigger an immediate election, a scenario the Conservatives are eager to see.

Government House Leader Karina Gould has announced plans to schedule opposition days for both the Conservatives and the NDP next week, providing a platform for this critical motion. The outcome of this political maneuver remains uncertain, as the NDP has previously taken a case-by-case approach to non-confidence votes.

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