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Daily Markets Update: Oil Rattles TSX Ahead of BoC Hike Week | Oct 26

  Canadian Money Brief • Daily Markets Update Monday, October 26, 2026 • Covers Friday’s North American and European closes plus Monday’s Asian session Oil took over from AI as the market’s main worry on Friday. Crude jumped above US$100 on fresh attacks on Saudi Arabia, the S&P/TSX Composite finished the week lower, and Wall Street logged a second straight weekly loss for the S&P 500. Monday brought a small reprieve: oil slipped after no weekend escalation in the Iran war, and most Asian and European markets steadied — just ahead of a week stacked with central bank decisions, including the Bank of Canada on Wednesday. The 30-second version TSX: 35,788.18 , down 185.27 points (−0.52%) Friday; −1.07% on the week. Wall Street: Dow −1.2%, S&P 500 −0.5%, Nasdaq −0.2%. Oil: WTI settled at US$103.27 ; Brent at US$116.72 . Loonie: 71.46¢ US , a five-week high. Bank of Canada: markets price roughly an 80% chance of a hike to 2.50% on Wednesday. Canada: TSX Ends the Week in the...
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Elon Musk's Ultimatum to Federal Workers: A New Era of Accountability

 

In a move that has sent shockwaves through the federal workforce, Elon Musk has issued an ultimatum to all federal employees, demanding that they provide a detailed account of their accomplishments over the past week within 48 hours. This directive, announced via Musk's social media platform, X, has sparked confusion and concern across various government agencies.

Musk, who serves as President Donald Trump's cost-cutting chief, emphasized that failure to comply with this request would be interpreted as a resignation. The email sent to federal employees instructed them to list approximately five bullet points of their weekly achievements and to cc their managers.

The directive has been met with mixed reactions. Some agencies have advised their employees not to respond, while labor union leaders have condemned the move as an example of the administration's disregard for federal workers and the essential services they provide. The American Federation of Government Employees (AFGE) has threatened legal action, arguing that the order is both cruel and disrespectful.

As the deadline approaches, the federal workforce remains in a state of uncertainty, with many employees questioning the authenticity and implications of Musk's directive.


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