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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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Trump Appoints In-Laws to Key International Roles

 


In a move that underscores his reliance on trusted family members, President-elect Donald Trump has appointed his in-laws, Charles Kushner and Massad Boulos, to significant international positions. This decision marks the second time in as many days that Trump has selected family members for key roles in his administration.

Charles Kushner, the father of Trump's son-in-law Jared Kushner, has been named the U.S. ambassador to France. Kushner, a billionaire real estate developer, was previously convicted on federal charges but received a pardon from Trump in 2020. His appointment is expected to play a pivotal role in engaging with the French government, a key partner in enforcing the ceasefire in Lebanon and countering Iran's nuclear ambitions.

Massad Boulos, the father-in-law of Trump's daughter Tiffany, has been appointed as the senior adviser on Arab and Middle Eastern affairs. Boulos, a billionaire businessman with significant interests in Nigeria and strong connections in Lebanon, was a key figure in Trump's campaign outreach to Arab American voters. His new role positions him as a central figure in post-war efforts for regional peace.

Trump's reliance on family members for critical posts has raised questions about conflicts of interest and nepotism. However, Trump has defended his choices, describing both Kushner and Boulos as accomplished leaders with extensive international experience.

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