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Oil jumps above US$105 after Riyadh blasts, futures slip and yields near 24-year highs. TSX, Wall Street and global markets for Oct 8.

  Canadian Money Brief | Thursday, October 8, 2026 | Morning edition Oil is jumping, futures are sliding and bond yields are sitting near 24-year highs. Explosions in Riyadh, including a blast at the city's airport, sent crude sharply higher early Thursday and pushed U.S. stock futures lower. That follows a rough Wednesday for Toronto, where banks and miners dragged the TSX down. Here is where every major market stands before the open. Key takeaways Brent crude jumped about 5% to above US$105 a barrel; WTI rose about 5% to roughly US$92.75. S&P 500 futures are down about 0.6% and Dow futures about 1% after Wall Street's four-day winning streak ended Wednesday. The TSX fell about 1.7% Wednesday to near 35,040, led lower by the big banks and gold miners. The U.S. 10-year yield touched 5.36% on Wednesday, its highest since April 2002, and is hovering near 5.3% again. Markets are pricing in at least one Bank of Canada rate hike by year-end. Canada: TSX stumbles as banks and m...
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Israeli Tanks Push Deeper into Gaza’s Rafah Amid Displacement Crisis

 

Israeli tanks have intensified their offensive in the southern border city of Rafah, pushing deeper into eastern neighborhoods. This escalation comes as more than a million civilians, who had sought refuge in Rafah after being displaced during seven months of war, face renewed danger. Here’s are the details: 

  • Humanitarian Crisis: Israel’s international allies and aid groups have repeatedly warned against a ground incursion into Rafah, fearing a potential humanitarian catastrophe. The city has been a refuge for displaced Palestinians, but the recent offensive threatens their safety and well-being.

  • Evacuation Orders: Israel issued evacuation orders for people to move from parts of eastern Rafah, extending to further zones. Displaced civilians are relocating to designated areas, including Al-Mawasi, a strip of land along the coast. However, these zones lack proper facilities to accommodate the influx of people.

  • Hamas Resistance: Despite international pressure, Israel continues its operation in Rafah. The goal is to root out the remaining Hamas battalions holed up in the city. Clashes persist as Hamas’s armed wing retaliates, destroying an Israeli troop carrier with an Al-Yassin 105 missile.

  • Ceasefire Efforts: Qatar and Egypt are mediating ceasefire talks, but Israel’s actions in Rafah have complicated the negotiations. Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani expressed concern about the impact on reaching a truce.

  • Intensified Conflict: Fighting across Gaza has intensified, with the Israeli military re-entering areas previously claimed to be dismantled. Israel aims to prevent Hamas from rebuilding its military capacities, but the toll on Palestinian lives continues to rise.

In summary, the situation in Rafah remains dire, with civilians caught in the crossfire. As the conflict persists, the international community must redouble efforts to find a peaceful resolution and alleviate the suffering of those displaced by war.

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