Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Big Tech Sparks Market Rally as Apple and Amazon Earnings Lift Wall Street

 

US stock futures staged a strong rebound on Friday, fueled by better-than-expected earnings from Apple and Amazon, which helped restore investor confidence in the technology sector after a volatile week.

The S&P 500 futures climbed 0.7%, while the Nasdaq 100 surged 1.3%, reflecting renewed optimism in Big Tech’s ability to drive market momentum. In contrast, the Dow Jones Industrial Average futures hovered near flat, underscoring the tech-heavy nature of the rally.

Amazon shares soared nearly 13% in premarket trading after the company reported third-quarter results that easily beat Wall Street forecasts. Its cloud division, Amazon Web Services, posted a 20% revenue jump, signaling robust enterprise demand and reinforcing Amazon’s position as a leader in cloud computing.

Apple also impressed investors with stronger-than-expected earnings and upbeat guidance for the holiday quarter, a critical period for iPhone and services sales. The company’s performance reassured markets that consumer demand remains resilient despite broader economic uncertainty.

The rebound comes just a day after the S&P 500 and Nasdaq suffered sharp losses, with Meta’s steepest one-day drop in three years weighing heavily on sentiment. The latest results from Apple and Amazon, however, appear to have shifted the mood, highlighting the continued dominance of Big Tech in shaping market direction.

With most of the so-called “Magnificent Seven” companies now having reported earnings, investors are closely watching how these results will influence broader market trends heading into the year’s final stretch. For now, Wall Street seems encouraged that Big Tech remains a reliable growth engine, even amid global economic headwinds.


Labels:

Comments

Post a Comment