Skip to main content

Featured

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 ...
Post a Comment
Read more

article

Labels

Carney's Bold Moves: Trade War Relief and Megaproject Acceleration

Canadian Prime Minister Mark Carney has unveiled a comprehensive plan to mitigate the economic impact of the ongoing trade war with the United States. In a decisive move, Carney announced measures aimed at supporting workers and businesses, including temporarily waiving the one-week waiting period for employment insurance and allowing businesses to defer corporate income tax payments and GST/HST remittances.

Carney also pledged to expedite major infrastructure projects through a streamlined "one-window approval process," aiming to cut red tape and accelerate development. Notable projects include the Cedar LNG and LNG Canada facilities in British Columbia and the Port of Churchill in Manitoba. These initiatives are expected to bolster Canada's economy and create significant opportunities for growth.

The Prime Minister emphasized the importance of removing barriers to the free movement of goods, services, and workers across provinces and territories, projecting an economic boost of $250 billion. With these measures, Carney aims to strengthen Canada's resilience and pave the way for long-term economic stability.


Labels:

Comments

Post a Comment