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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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Daily Markets Update: TSX Rises, U.S. Tech Stocks Slide as Oil Surges

 


 Friday, October 9, 2026

Daily Markets Update: TSX Rises, U.S. Tech Stocks Slide as Oil Surges

Canadian shares edged higher on Thursday, while technology stocks dragged down the Nasdaq and S&P 500. Oil prices jumped amid renewed Middle East supply concerns, keeping inflation and interest rates in focus.

Data timing: Canadian and U.S. stock-market figures below are official closing levels for Thursday, October 8, 2026. International markets reflect their latest reported completed session. Friday’s North American trading was still underway when this update was prepared.

Markets at a glance

Index / AssetLatest closeDaily move
S&P/TSX Composite35,145.38+103.52 (+0.30%)
Dow Jones Industrial Average51,231.64+51.77 (+0.10%)
S&P 5007,765.36−36.41 (−0.47%)
Nasdaq Composite27,193.34−345.35 (−1.25%)
WTI crude oil (November contract)US$91.49/barrel+US$3.21
Gold (December futures)US$4,157.00/oz+US$16.30
Canadian dollarUS$0.7022Up from US$0.7014

Canadian Press closing recap for October 8. Brent crude was reported above US$104 a barrel during Thursday’s volatile session; the WTI figure in the table is the November futures contract close.

Canada: TSX gains as energy shares provide support

The S&P/TSX Composite Index gained 103.52 points, or 0.30%, to close at 35,145.38 on Thursday. Strength in energy shares helped the Canadian market as oil prices rose on concerns about possible supply disruptions. The index’s gain came despite pressure on some technology and utility stocks.

For Canadian investors, higher oil prices can support energy producers and parts of the broader TSX. But expensive energy can also increase costs for households and businesses, so the effect is not uniformly positive.

United States: tech stocks lead the decline

U.S. markets finished mixed on Thursday. The Dow rose 0.10%, while the S&P 500 fell 0.47% and the Nasdaq dropped 1.25%. Technology and semiconductor shares were among the weakest areas as investors reassessed the outlook for artificial-intelligence spending and profitability.

Bond yields and oil-price swings added to uncertainty. Higher borrowing costs can weigh on valuations—particularly for growth-oriented companies whose expected profits lie further in the future. A pullback in technology shares can also affect Canadian investors with U.S. equity funds or concentrated technology holdings.

Global markets: Asia rebounds; Europe remains in focus

Reports from Friday’s Asian session showed a recovery across several major markets after the previous session’s losses. Hong Kong’s Hang Seng rose 1.79%, while mainland China’s Shanghai Composite edged up 0.05% to 3,813.79 and the Shenzhen Composite gained 0.18% to 2,369.61.

European equities were broadly weaker in the previous session, with investors watching bond yields, energy costs and geopolitical risks. As European trading continued on Friday, some markets were showing signs of recovery following reports that helped ease immediate fears of an imminent escalation involving Iran. These are session-specific readings, not Friday closing figures.

Oil, gold and interest rates

Oil: The November WTI contract rose US$3.21 to US$91.49 a barrel on Thursday. Brent crude, the international benchmark, climbed above US$104 during the session. Geopolitical tensions and potential disruptions to shipping and production kept energy markets volatile. If elevated oil prices persist, they could feed into gasoline, transportation and other costs.

Gold: December gold futures rose US$16.30 to US$4,157 an ounce. Gold can attract interest during periods of uncertainty, although its price is also sensitive to currency movements and interest-rate expectations.

Bond yields: The 10-year Government of Canada bond yield was reported at about 3.93%, while the U.S. 10-year Treasury yield was near 5.23% following recent volatility. Bond yields influence market borrowing costs and can affect fixed mortgage rates, though lenders’ rates do not move one-for-one with government yields.

Canadian dollar: The loonie finished Thursday at 70.22 U.S. cents, up from 70.14 cents on Wednesday. Currency moves affect the Canadian-dollar cost of U.S. purchases and the returns Canadians receive from unhedged foreign investments.

What this means for Canadians

  • Investors: Thursday’s results were uneven, with the TSX slightly higher but U.S. technology shares weaker. Diversification matters more than reacting to one trading session.
  • Drivers and households: The oil-price jump could put upward pressure on fuel and transport costs if it continues, but daily crude-price changes do not translate immediately or directly into pump prices.
  • Borrowers: Keep an eye on government bond yields and central-bank signals. Fixed mortgage rates can respond to bond-market changes, while variable rates are more directly linked to the Bank of Canada’s policy rate.
  • Travellers and online shoppers: The Canadian dollar’s exchange rate affects the cost of U.S.-dollar purchases, subscriptions and travel expenses.
  • Savers: Market volatility is a reminder to match investment risk to your time horizon and keep near-term spending money in suitable low-risk savings.

What to watch next

Investors will be watching developments in the Middle East, oil prices, government bond yields, economic data and signals about the Bank of Canada’s next rate decision. Corporate updates—especially from large technology and AI-related companies—may continue to influence U.S. indexes and global investor sentiment.

Bottom line: Thursday’s session showed how quickly markets can diverge: energy strength helped the TSX, while technology weakness pulled down the Nasdaq and S&P 500. Oil and bond-market volatility remain important factors for investors and household budgets.

Sources: The Canadian Press closing recap via Yahoo Finance Canada (October 8, 2026); Associated Press U.S. market closing report (October 8, 2026); Edward Jones Canada daily market recap (October 8, 2026); and market reporting on the latest Asian session. Canadian/U.S. market closes · AP U.S. market recap · Edward Jones market recap · Asian session recap.

This article is for general information only and is not investment, tax or financial advice. Market data may be revised by exchanges or data providers. Always verify figures before making financial decisions.

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