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Oil jumps above US$105 after Riyadh blasts, futures slip and yields near 24-year highs. TSX, Wall Street and global markets for Oct 8.

  Canadian Money Brief | Thursday, October 8, 2026 | Morning edition Oil is jumping, futures are sliding and bond yields are sitting near 24-year highs. Explosions in Riyadh, including a blast at the city's airport, sent crude sharply higher early Thursday and pushed U.S. stock futures lower. That follows a rough Wednesday for Toronto, where banks and miners dragged the TSX down. Here is where every major market stands before the open. Key takeaways Brent crude jumped about 5% to above US$105 a barrel; WTI rose about 5% to roughly US$92.75. S&P 500 futures are down about 0.6% and Dow futures about 1% after Wall Street's four-day winning streak ended Wednesday. The TSX fell about 1.7% Wednesday to near 35,040, led lower by the big banks and gold miners. The U.S. 10-year yield touched 5.36% on Wednesday, its highest since April 2002, and is hovering near 5.3% again. Markets are pricing in at least one Bank of Canada rate hike by year-end. Canada: TSX stumbles as banks and m...
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Canada's Unemployment Rate Hits 6.8% Amidst Job Market Challenges


Despite a significant increase in hiring, Canada's unemployment rate rose to 6.8% in November, marking the highest level since January 2017, excluding the pandemic period. The economy added 51,000 jobs last month, with most of the gains in full-time employment. However, the rise in unemployment was driven by more people entering the job market, reflecting ongoing challenges in the labor market.

The Bank of Canada is closely monitoring these developments as it prepares for its upcoming interest rate decision. High interest rates have cooled the labor market over the past year, leading to longer periods of unemployment for many Canadians. The job report also highlighted that 46.3% of unemployed Canadians in November had not worked in the last year or had never worked, up from 39.5% a year ago.

As the country navigates these economic headwinds, the focus remains on balancing job growth with inflation control and interest rate adjustments.




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