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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 Troops Reach Strategic Hill in Lebanon Amid Escalating Conflict

 

Israeli ground forces have reached their deepest point in Lebanon since the invasion began on October 1, according to Lebanese state media. The troops captured a strategic hill in the southern Lebanese village of Chamaa, approximately 5 kilometers from the Israeli border, before pulling back after intense battles with Hezbollah militants.

The National News Agency reported that Israeli forces detonated the Shrine of Shimon the Prophet and several homes in Chamaa before their withdrawal, although these claims have not been independently verified. The Israeli military stated that their operations in southern Lebanon remain limited, localized, and targeted.

This ground push coincided with Israeli airstrikes on Beirut’s southern suburbs and other areas in southern Lebanon, including the port city of Tyre. The strikes targeted sites used by Hezbollah, with residents receiving advance warnings to evacuate.

The escalation comes as Lebanese and Hezbollah officials review a U.S.-drafted proposal aimed at ending the conflict. The proposal, based on U.N. Security Council resolution 1701, calls for a ceasefire and Hezbollah’s withdrawal from the Israel-Lebanon border.

Since the conflict’s escalation in late September, over 3,400 people have been killed in Lebanon, with 80% of the casualties occurring in the past eight weeks. Lebanon’s caretaker prime minister has urged Iran to persuade Hezbollah to agree to the ceasefire deal.


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