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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 Edge Higher as Soft Jobs Data Fuels Rate-Cut Hopes

 

US stock futures ticked upward on Wednesday, extending Wall Street’s rebound as investors digested a weaker-than-expected ADP employment report. The data showed a surprise decline in private-sector payrolls, reinforcing expectations that the Federal Reserve may move forward with an interest rate cut at its upcoming December meeting.

Market Performance

  • Dow Jones Industrial Average futures rose about 0.2%, adding 80 points to 47,624.
  • S&P 500 futures gained 9.25 points to 6,849.50, up 0.14%.
  • Nasdaq 100 futures advanced 25.50 points to 25,631.50, a 0.10% increase.

Key Drivers

  • The ADP jobs report revealed a drop in private-sector employment, signaling cooling labor market conditions. This bolstered investor confidence that the Fed will ease monetary policy, with markets pricing in nearly 88% odds of a rate cut next week.
  • Tech stocks continued to provide momentum, with Nvidia and Marvell edging higher.
  • Crypto-linked stocks surged, with PMAX up 67%, CMCT up 30%, and ABTC up 12%, reflecting renewed optimism in digital assets.
  • Bitcoin rebounded sharply, climbing above $93,000 after weeks of weakness, further supporting risk-on sentiment.

Global Context
The rebound in US futures comes amid mixed global market performance. Asian equities largely advanced, while European markets showed a more cautious tone. Investors worldwide are closely watching US labor data as a key signal for monetary policy direction.

Outlook
With the ADP report underscoring labor market softness, traders are increasingly confident that the Fed will cut rates at its December 10 meeting. The combination of easing inflation pressures, weaker employment data, and strong momentum in tech and crypto sectors has set the stage for continued gains—though volatility remains likely as markets await confirmation from the Fed.

In short: Softer jobs data has given Wall Street a boost, with futures pointing higher as investors bet on a Fed rate cut.


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