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5 Things to Know Today: 68,000 Jobs Lost, a Weaker Loonie and the Oct. 28 BoC Decision

  Oct 12, 2026   Happy Thanksgiving. Canadian markets are closed today, but the numbers that shape your wallet aren't taking the day off. Here are five things to know on Monday, October 12. 1. Canada lost about 68,000 jobs in September, wiping out 2026's gains Statistics Canada reported that employment fell by roughly 68,000 in September, following a 41,700-job drop in August. The unemployment rate edged up to 6.5% from 6.4%. Economists had forecast a small gain. Put the two months together and Canada has lost about 41,200 jobs so far this year, compared with a gain of 211,300 over the same stretch of 2025, according to Reuters. The losses were spread almost evenly between full-time and part-time work and were concentrated in the public sector. Workers aged 15 to 24 lost 48,000 jobs, Quebec shed 49,000, and Ontario's unemployment rate sits at 7.0%, the highest among the large provinces. Average hourly wages were up 2.3% from a year ago. What it means for you: A softening j...
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Wall Street Futures Slide Amid AI Bubble Concerns

 

US stock futures retreated on Tuesday as mounting fears of an AI-driven market bubble weighed heavily on investor sentiment. The Dow Jones Industrial Average futures fell 0.7%, marking the worst three-day run for the blue-chip index since April. The Nasdaq 100 slipped 0.8%, while the S&P 500 dropped 0.6%, extending losses from a bruising session earlier this week.

The pullback comes ahead of a pivotal Nvidia earnings report, which investors see as a litmus test for the sustainability of the AI boom. Concerns about inflated valuations in the sector have grown, particularly as chipmakers and tech giants face scrutiny over their aggressive expansion into AI infrastructure.

Adding to the turbulence, Bitcoin briefly dipped below $90,000, erasing all of its gains for the year and deepening a global sell-off in cryptocurrencies. The decline rattled Asian markets, with Japanese stocks suffering their steepest loss since April. Meanwhile, 10-year Treasury yields fell, reflecting a flight to safety amid the risk-off mood.

Investors are also bracing for shutdown-delayed US jobs data and other key economic indicators later this week, which could provide fresh insight into the health of the economy and the Federal Reserve’s policy path. With AI valuations under pressure and broader economic uncertainty looming, markets appear increasingly fragile.

In short, Wall Street is entering a critical week where AI optimism collides with valuation fears, and the outcome of Nvidia’s earnings could set the tone for the next leg of the market’s trajectory.


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