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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 ...
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Hunter Biden Convicted in Federal Gun Trial: Historic Verdict and Implications

 

Hunter Biden, the only surviving son of President Joe Biden, has made history by becoming the first child of a sitting U.S. president to be convicted of a crime. The verdict was delivered on June 11, 2024, after a jury deliberated for just three hours.

The charges against Hunter Biden stem from his possession of a firearm while using narcotics. He was found guilty on all three counts, which include lying about his drug use to obtain the weapon. The maximum prison sentences for these charges range from five to ten years, and each count carries a maximum fine of $250,000.

In the defense room after the verdict, Hunter expressed gratitude to everyone involved, particularly his legal team led by Abbe Lowell. His emotional remarks highlighted the need to reconsider how drug and alcohol laws are enforced in the country, emphasizing fair prosecutorial discretion.

This landmark trial raises questions about the intersection of addiction, gun ownership, and legal accountability. As Hunter Biden faces the possibility of up to 25 years in prison, the case serves as a stark example of the justice system’s complexities and the impact of addiction on millions of Americans.



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