Skip to main content

Featured

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 ...
Post a Comment
Read more

article

Labels

Mark Carney Gains More Support in Liberal Leadership Race

 


In a significant boost to his campaign, three more members of Prime Minister Justin Trudeau's cabinet have endorsed Mark Carney for the Liberal leadership. Transport Minister Anita Anand, Defence Minister Bill Blair, and Housing Minister Nathaniel Erskine-Smith announced their support for Carney on Saturday.

Anand, who recently declared she won't seek re-election, praised Carney's leadership during the 2008 global financial crisis, stating that he has the ability to steer Canada through difficult times. Blair highlighted Carney's experience in navigating national economies and his ability to work across party lines. Erskine-Smith emphasized Carney's commitment to sustainability and his capability to manage crises.

With these endorsements, Carney now has the backing of 16 ministers, outpacing his main rival, former finance minister Chrystia Freeland, who has the support of five ministers. Freeland has positioned herself as the candidate against the "Ottawa establishment," suggesting that Carney is the preferred choice of the Prime Minister's Office.

Carney's campaign continues to gain momentum as he racks up endorsements from key figures within the Liberal Party.
Labels:

Comments

Post a Comment