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Kospi Plunges 5%, Oil Near $106 as TSX Reopens | Daily Markets Update Oct 13

  Canadian Money Brief • Daily Markets Update • Tuesday, October 13, 2026 Good morning. Canadians return from the long weekend to a lot of catching up. Asia's chip stocks were hammered overnight, oil is hovering near US$106 a barrel, and the loonie is sitting near its weakest level in 18 months. The TSX reopens today after Thanksgiving, and Wall Street's big banks kick off earnings season ahead of tomorrow's US inflation report. The Big Three Today 1. Kospi crashes 5.46% to 6,035 on a global chip and AI selloff 2. Brent settles at US$106.65, its highest close since Sept. 15, on attacks on Saudi Arabia 3. TSX reopens after Friday's 519-point jump on a shock jobs report; USD/CAD near 1.43 Canada: TSX Reopens After a Jobs Shock The Toronto Stock Exchange was closed Monday for Thanksgiving, so Friday's session is still the latest close, and it was a big one. The S&P/TSX Composite jumped 519.24 points (+1.48%) to 35,664.62 after Statistics Canada reported that t...

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US Futures Stall After Record-Setting Rally

 


US stock futures wobbled on Friday, losing steam after a record-setting rally and blowout month as the relief sparked by an influential inflation reading ebbed. The S&P 500 futures were little changed, coming off the benchmark’s record close and best February in almost a decade. Futures on the Dow Jones Industrial Average and the tech-heavy Nasdaq 100 also wavered around the flatline.

Stocks are kicking off March in a subdued mood, a shift from the upbeat reaction to PCE data that showed inflation continued to cool — easing worries the Federal Reserve would get more reason to hold off from interest-rate cuts. But further scrutiny has highlighted signs of “sticky” inflation that will be harder to shift.

Among big movers, shares in New York Community Bancorp (NYCB) tumbled 20% in premarket after the exit of its CEO, a $2.7 billion quarterly loss, and findings of “material weaknesses” in the bank’s loan processes. Meanwhile, Dell (DELL) shares rose almost 25% in the wake of a quarterly sales and profit beat fueled by AI prospects for its servers. Developments at OpenAI caught the attention of investors tracking the sector. Elon Musk has sued the Microsoft-backed company and its CEO Sam Altman, among others, over a breach of contract. Also, the ChatGPT maker is reportedly set to name new board members in March to end an impasse linked to Altman’s abrupt firing last year.

In summary, the market’s exuberance has tempered, and investors are closely watching inflation trends and corporate developments. As we navigate March, the delicate balance between economic indicators and market sentiment remains crucial.


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