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Weekly Market Snapshot: Nasdaq’s Worst Week Since June, Oil Tops US$100 and the TSX Climbs (Oct 12–16)

  Saturday, October 17, 2026 · Based on Friday’s close · Canadian Money Brief It was a week of split screens. An AI-financing scare hammered chip and cloud stocks on Wall Street, a hot US inflation print pushed bond yields back toward 5%, and crude oil punched through US$100 again. Yet the S&P/TSX Composite finished the holiday-shortened week up about 1.4% at 36,176.55, European stocks posted their best week since late June, and the Dow squeezed out a second straight weekly gain. The Week at a Glance Index Friday close Friday change Week change S&P/TSX Composite 36,176.55 ▲ +0.11% ▲ +1.4% S&P 500 7,659.44 ▼ −1.09% ▼ −2.0% Dow Jones 52,002.41 ▼ −0.34% ▲ +0.7% Nasdaq Composite 26,140.03 ▼ −2.14% ▼ −4.5% STOXX Europe 600 644.74 ▲ +0.72% Best week since late June FTSE 100 10,881.90 ▲ +0.38% ▲ +3.13% Nikkei 225 65,324.29 ▲ +1.39% ▼ −5.37% Note: TSX was closed Monday, Oct 12 for Thanksgiving; US and European markets traded. Weekly changes are rounded. Canada: TSX Rides Metal...
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Carney and Trump Set to Meet Amid Renewed Diplomatic Focus

 

Prime Minister Mark Carney and U.S. President Donald Trump are preparing for their first in-person meeting following a phone call on Tuesday. The conversation, which came shortly after Carney's election victory, emphasized the importance of Canada and the United States collaborating as independent, sovereign nations. Both leaders agreed to work together for mutual benefit and to meet in the near future.

This meeting comes at a pivotal time, as Carney's government navigates a minority mandate and ongoing trade tensions with the U.S. The discussions are expected to address key issues, including tariffs on Canadian exports and broader economic cooperation.

Carney's victory speech highlighted his commitment to uniting a divided Canada and fostering stronger ties with international partners. The upcoming meeting with Trump will likely set the tone for future Canada-U.S. relations.

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