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TSX Surges 1.35% as Nvidia Beats and Oil Retreats Below $100

  TSX Surges 1.35% as Nvidia Beats and Oil Retreats Below $100 A blowout Nvidia earnings report and accelerating US-Iran peace diplomacy conspired to lift Canadian equities, while a sharp drop in crude oil — below the psychologically important $100 mark — offered relief to consumers and rate-watchers alike. TSX 34,197.87 ▲ +1.35% CAD/USD 0.7275 ▼ −0.02% WTI Crude $97.83 ▼ −6.07% Gold $4,518/oz ▼ −0.38% Bitcoin CAD $106,195 ▲ +0.79% Market Overview Bay Street Bounces Back Canadian equities logged their best single-day gain in weeks on Thursday as two powerful tailwinds converged: Nvidia's standout quarterly results lifted North American tech sentiment broadly, while peace-talk progress between the US and Iran sent oil prices tumbling more than six percent. The S&P/TSX Composite Index climbed to 34,197.87, recovering the ground lost during Tuesday's selloff and then some. The Nvidia Effect Chipmaker Beats Estimates, Rewards Shareholders After Wednesday's close, Nvidia rep...
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Third Time's the Charm? Canadian Government Faces Another Tory Non-Confidence Vote

 

In Ottawa today, the Liberal government is bracing for its third Conservative non-confidence vote. Despite the tension, the government is expected to survive, thanks to the support of the New Democratic Party (NDP).

The motion, which quotes NDP Leader Jagmeet Singh's criticisms of the Liberals, calls for the House to agree with Singh and vote to bring down the government. However, Singh has already stated he will not support the Conservatives, making the motion's failure likely.

In addition to the non-confidence vote, the House will also vote on an NDP motion to expand the GST break and the $250 "working Canadians rebate" to fully retired seniors and people relying on disability benefits. These votes come as the House faces a deadline to approve billions of dollars in government spending, including $21.6 billion for housing, dental care, and the national school food program.

The House has been gridlocked since late September due to a Conservative filibuster over a privilege motion related to the Liberals' refusal to provide unredacted documents about a now-defunct green technology fund. This gridlock was temporarily paused by House Speaker Greg Fergus to allow for the spending debate and opposition motions.

As the political drama unfolds, Canadians are watching closely to see if the government can navigate these turbulent waters and continue to function effectively.




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