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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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Winter Set to Redeem Itself After Record-Breaking Warmth

 

After experiencing the warmest winter on record last year, Canada is bracing for a colder season this year, according to The Weather Network's chief meteorologist, Chris Scott. Scott predicts that this winter will attempt to "salvage its reputation" with generally colder temperatures and more impactful weather compared to last year.

The forecast indicates that Western Canada will see near- or above-normal snow totals, while Ontario and Quebec can expect significant winter weather in December. However, Scott warns that the overall winter will still not be a "blockbuster" for any region.

"It's coming east in a hurry, and it will pack a real punch," Scott said, noting that there will be a "mad scramble for winter tires and salt" in Ontario and Quebec.

The Weather Network's seasonal forecast suggests that while January and February may be milder in Quebec and Ontario, Manitoba and Saskatchewan will experience a more typical winter. The forecast also brings good news for drought-weary prairie farmers, who rely on snowmelt to boost soil moisture in the spring.




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