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5 Things to Know Today: TSX Slides, Nasdaq Rout, Oil Tops US$104, Budget Week

  Sunday, November 1, 2026  |  Canadian Money Brief Markets are closed today, so the numbers below are Friday’s closes. Here is what matters for your money as the week begins. Friday, Oct. 30 close Level Change S&P/TSX Composite 35,620.03 -1.74% S&P 500 7,580.07 -1.82% Nasdaq Composite 25,437.00 -2.86% Dow Jones Industrial Average 51,770.31 -1.09% WTI crude (US$ a barrel) 104.12 +2.08% Canadian dollar (U.S. cents) about 71.6 — 1. The TSX ends October with a 1.7% sell-off The S&P/TSX Composite fell 629.00 points to 35,620.03 on Friday, leaving it down 168.15 points, or 0.47%, on the week. Gold shares did the most damage: the gold sub-index dropped 6.4%, materials fell 5.7% and technology slid 3.4%. Cameco sank about 9.5% after missing third-quarter revenue estimates. Only telecoms, energy and consumer staples finished higher. What it means for you: A TSX index fund in your TFSA or RRSP leans heavily on gold, materials and energy, so days like Friday can swing ...
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Senate Republicans Advance Trump's Tax Cut Agenda Amidst Controversy


In a significant political move, U.S. Senate Republicans have passed a budget blueprint aimed at extending President Donald Trump's 2017 tax cuts. The measure, approved after an intense late-night session, allows Republicans to bypass the Senate's filibuster and proceed with tax, border security, and military priorities without Democratic support.

The blueprint proposes making the 2017 tax cuts permanent, which reduced the corporate tax rate from 35% to 21%. However, the individual tax cuts, set to expire this year, are also included in the plan. Critics argue that the measure could add $5.7 trillion to the federal debt over the next decade, though Republicans estimate the cost at $1.5 trillion.

Democrats have voiced strong opposition, warning that the plan could jeopardize Medicaid and other essential programs. Senate Democratic Leader Chuck Schumer criticized the move as favoring the wealthy at the expense of middle-class Americans.

The measure now heads to the Republican-led House of Representatives for further debate. Its passage marks a pivotal step in advancing Trump's economic agenda, though it faces significant scrutiny and potential hurdles in the coming weeks.

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