Dear Friends,
Tangents:
April 14, 1865: President Lincoln was shot and mortally wounded by John Wilkes Booth while attending the comedy "Our American Cousin" at Ford’s Theater in Washington, D.C. He died the next day. Go to article.
April 14, 2003: The Human Genome Project is completed, finishing the first full map of human genes. It still shapes medicine, genetics and disease research today.
April 14, 1828: First Webster’s Dictionary.
Anne Sullivan, teacher, b. 1866.
Arnold Toynbee, historian, b. 1889
| ‘Oslo patient’ likely cured of HIV after getting stem cell transplant from his brother, who is genetically resistant to the virus |
A man known as the "Oslo patient" joins a short list of people in long-term remission from HIV following bone marrow transplants. Read More.
| Homo erectus’ tools include stunning geodes and fossils, possibly as a way to connect with the cosmos, study finds |
Homo erectus may have deliberately selected rocks embedded with fossils and crystals to craft their hand axes — possibly to serve as mediators between humans and the cosmos. Read More.
| Stone Age tombs in Scotland reveal ‘webs of descent’ among male relatives |
An analysis of DNA from Stone Age skeletons buried in Scotland reveals how people organized the burial of their dead. Read More.
| ‘I have not processed what we just did’: Artemis II astronauts share all in first news conference since splashdown |
The Artemis II crew have spoken publicly for the first time since their return to Earth. Read More.
| ‘Really, really weird’: Physicists entangle two moving atoms for the first time, validating ‘spooky’ quantum theory |
For the first time, scientists have observed quantum entanglement in the momentum of massive particles. The result, decades in the making, could help physicists probe the relationship between quantum mechanics and gravity. Read More.
Rock & Roll Hall of Fame announces new inductees
Here are the 18 artists who will soon join one of the coolest clubs in music.
World’s busiest airports
The 2025 rankings are in, and it’s no surprise that this airport has landed at No. 1 again.
‘Colossal’ pressure: How Russia is targeting university students for military recruitment
Accounts from students and a growing body of open-source evidence suggest Russia is quietly escalating a campaign to tempt and pressure university students into joining its drone forces.
Hungarian politician is a dancing machine
Hungarian politician Zsolt Hegedus stole the spotlight on social media with this energetic on-stage dance routine.
PHOTOS OF THE DAY
Tokyo, Japan
Visitors stroll through the grounds of Nezu shrine during the annual Azalea festival
Photograph: Kazuhiro Nogi/AFP/Getty Images
Halle, Belgium
Wild bluebells, which bloom around mid-April, turning the forest floor blue in the Hallerbos, also known as the Blue Forest, in Halle
Photograph: Yves Herman/Reuters
Jinghong, China
People fly Kongming lanterns, a kind of small hot-air paper balloon, by the Lancang River
Photograph: VCG/Getty Images
Market Closes for April 14th, 2026
| Market Index |
Close | Change |
| Dow Jones |
48535.99 | +317.74 |
| +0.66% | ||
| S&P 500 | 6967.38 | +81.14 |
| +1.18% | ||
| NASDAQ | 23639.09 | +455.35 |
| +1.96% | ||
| TSX | 34102.36 | +223.12 |
| +0.66% |
International Markets
| Market Index |
Close | Change |
| NIKKEI | 57877.39 | +1374.62 |
| +2.43% | ||
| HANG SENG |
25872.32 | +211.47 |
| +0.82% | ||
| SEN SEX | 76847.57 | -702.68 |
| -0.91% | ||
| FTSE 100* | 10609.06 | +26.10 |
| +0.25% |
Bonds
| Bonds | % Yield | Previous % Yield |
| CND. 10 Year Bond |
3.429 | 3.465 |
| CND. 30 Year Bond |
3.867 | 3.906 |
| U.S. 10 Year Bond |
4.2479 | 4.2933 |
| U.S. 30 Year Bond |
4.8603 | 4.8968 |
| BOC Close | Today | Previous |
| Canadian $ | 0.7263 | 0.7253 |
| US $ |
1.3767 | 1.3786 |
| Euro Rate 1 Euro= |
Inverse | |
| Canadian $ | 0.6158 | 1.6237 |
| US $ |
0.8478 | 1.1795 |
Commodities
| Gold | Close | Previous |
| London Gold Fix |
4722.65 | 4722.65 |
| Oil | ||
| WTI Crude Future | 91.28 | 99.08 |
Market Commentary:
On this day in 2021, Bernie Madoff, who was the mastermind of the largest Ponzi scheme in history, died in prison.
🍒Canada🍓
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose for the third day, climbing 0.7%, or 223.12 to 34,102.36 in Toronto.
The index advanced to the highest closing level since March 2.
Brookfield Corp. contributed the most to the index gain, increasing 4.1%.
Aya Gold & Silver Inc. had the largest increase, rising 8.3%.
Today, 138 of 220 shares rose, while 81 fell; 7 of 11 sectors were higher, led by financials stocks.
Insights
* The index advanced 43% in the past 52 weeks. The MSCI AC Americas Index gained 30% in the same period
* The S&P/TSX Composite is 1.3% below its 52-week high on March 2, 2026 and 44.1% above its low on April 14, 2025
* The S&P/TSX Composite is up 2.6% in the past 5 days and rose 4.8% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 22.3 on a trailing basis and 16.9 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$5.35t
* 30-day price volatility fell to 17.40% compared with 18.53% in the previous session and the average of 18.43% over the past month
Index Points
Financials | 135.5493| 1.2| 22/2
Materials | 82.4781| 1.2| 45/15
Information Technology| 62.2716| 2.6| 7/2
Industrials | 38.4782| 1.1| 23/6
Communication Services| 7.1085| 1.2| 5/0
Real Estate | 4.4918| 0.9| 16/3
Consumer Discretionary| 2.9455| 0.3| 7/2
Health Care | -0.7630| -0.9| 0/3
Consumer Staples | -1.1873| -0.1| 3/7
Utilities | -1.7884| -0.1| 4/10
Energy | -106.4588| -1.8| 6/31
Brookfield Corp | 38.4400| 4.1| -9.1| -0.4
Shopify | 29.1200| 2.1| 28.7| -26.7
Celestica | 20.0200| 4.9| 22.2| 30.5
Enbridge | -11.4600| -1.0| -29.0| 11.1
Suncor | -15.4200| -2.1| -35.9| 43.7
Canadian Natural Resources | -27.4100| -2.9| -27.8| 35.1
MT Newswires:
The Toronto Stock Exchange closed higher on Tuesday, rising for the ninth time in the past 10 ten sessions, with investors possibly getting fresh encouragement from news the Canadian federal government will later this month provide a spring economic update that is expected to outline its plans for overcoming high oil prices due to the Iran war, and lingering trade disputes with the United States.
The S&P/TSX Composite Index rose 223.12 points, or 0.65% to 34,102.36, leaving it less than 500 points from its March 2 record close of 34,541.27.
Most sectors were higher, led by Info Tech, up 2.75%, for the second session in a row.
Energy, down 2.4%, was the biggest loser as the oil prices dropped.
On the political and economic front, Finance Minister Francois-Philippe Champagne told Parliament on Tuesday the federal government will table its spring economic update on April 28, marking the first anniversary of the Liberals’ general election win.
CTV News noted it will be Prime Minister Mark Carney’s first since his cabinet flipped the release schedule for its budgets and fiscal updates.
The federal government has already started to flag some of the details likely to be at the heart of the economic update.
CTV News noted the government is set to temporarily suspend the federal fuel excise tax on gas and diesel starting next week.
Carney made the announcement in Ottawa on Tuesday, just hours after his government secured a majority through three byelection wins and some recent floor crossings involving Members of Parliament from other parties.
CTV News noted the tax suspension is expected to reduce the cost of gas by 10 cents per liter on regular gas, and four cents on diesel.
The suspension will come into effect on April 20 and last until Sept. 7 and comes as global oil prices remain volatile amid U.S.-Iran tensions.
Speaking to reporters following the announcement on the federal fuel excise tax, Carney signaled the spring economic update will include some restructuring of already announced measures.
"We’re putting in place a series of measures. Some will have short-term payoffs. Many will have payoffs in a few years," Carney said.
"The bigger projects, the bigger initiatives, we have to change fundamentally our economy to be stronger, more independent, more prosperous, but we want to make sure that those benefit all Canadians."
"In (the spring update), you’ll see more emphasis on taking where we’re going with the economy and making sure that it benefits all Canadians," he added.
Still on economics, National Bank Canada said Canada has preserved a fiscal edge, despite moves to protect the economy as highlighted in the latest International Monetary Fund update.
The IMF on Tuesday trimmed its 2026 forecast for Canada’s gross domestic product growth by 0.1 percentage points to 1.5%, while keeping the estimate at 1.9% for next year.
The IMF published its latest World Economic Outlook on Tuesday.
Canada’s GDP expanded 1.7% in 2025.
National Bank economist Ethan Currie and Warren Lovely said while Canada’s growth outlook is largely unchanged, they noted governments have moved to protect and defend a trade-sensitive economy.
"That extra budgetary red ink is captured in this latest MF forecast. Net borrowing is seen as more substantive yet again, which is directionally inconsistent with other G7 countries, who saw improvements relative to the Oct-26 IMF report," the National Bank duo
noted.
But that, they said, is not to say Canada does not remain in a favorable fiscal standing.
They added: "The budget deficit, while loftier following the pandemic, remains contained relative to other jurisdictions, particularly the U.S., which isn’t expected to see the same level of consolidation in years to come.
Meantime, Canada’s serious net debt edge, brought on by plentiful financial assets at the government/public pension level, is only set to build from here."
Of commodities today, West Texas intermediate crude oil closed sharply lower after U.S. President Trump said further talks with Iran in Pakistan "could be happening over next two days", while the International Energy Agency said it expects oil demand to fall this year on a lack of supply as the Strait of Hormuz remains essentially closed.
WTI crude oil for May delivery was closed down $7.80 to settle at US$91.28 per barrel, while June Brent oil was down US$4.58 to US$94.78.
Gold traded higher Tuesday as the dollar fell after the United States reported U.S. wholesale price inflation rose less than expected last month.
Gold for May delivery was last seen up $82.90 to US$4,850.30 per ounce.
US
By Ira Iosebashvili
(Bloomberg) — Stocks continued their climb, putting the S&P 500 Index within sight of a fresh record as optimism on the possibility of further peace talks between the US and Iran pushed down oil prices.
The benchmark index was 1.1% higher a day after erasing its war-driven losses, extending a rebound that has brought it to the brink of its late-January peak.
The tech-heavy Nasdaq 100 rose 1.6%, on pace for a 10th straight day of gains — its longest such streak since 2021.
Iran is considering a short-term pause to shipments through the Strait of Hormuz to avoid testing a US blockade and scuppering a fresh round of peace talks, according to a person familiar with Tehran’s deliberations.
The potential pause reflects a desire to avoid immediate escalation as the party’s sort logistics for another face-to-face meeting, the person said.
Brent fell 4% toward $95 a barrel, as the International Energy Agency estimated that the war will wipe out global oil demand growth for the first time since the 2020 pandemic.
The dollar headed for a seventh straight day of losses, while Treasuries strengthened.
“Markets were already leaning toward the view that diplomacy would stay alive in some form,” said Charu Chanana, chief investment strategist at Saxo Markets.
“This signal matters because it turns that hope into something more tangible, and that is enough to reinforce the relief trade.”
Traders are also focused on first-quarter earnings at a time when the war in the Middle East is weighing on the outlook for the economy.
JPMorgan Chase & Co. shares slipped despite a record quarterly trading revenue haul.
Wells Fargo & Co. dropped 5%.
Citigroup Inc. rose 3% after reporting its highest quarterly return in five years on tangible common equity.
“A near‑term grind‑higher in equities remains possible if the ceasefire holds and earnings surprise to the upside, but this window looks inherently unstable,” wrote Barclays equity derivatives strategists led by Stefano Pascale.
Meanwhile, US wholesale prices rose by less than expected in March, despite a surge in energy costs tied to the Iran war, data from the Bureau of Labor Statistics showed on Tuesday.
The producer price index rose 0.5%, with an underlying gauge that excludes food and energy up just 0.1%.
Economists projected a 1.1% for the PPI from a month earlier.
The data follow figures last week that showed US consumer prices surged in March because of skyrocketing gasoline prices, even as underlying inflation came in below estimates.
“Companies continue to show remarkable resilience in the face supply chain, tariff, and now energy challenges,” said Scott Helfstein, head of investment strategy at Global X ETFs. “This should be reassuring for investors.”.
At the same time, US energy stocks are poised to erase all of the gains seen since President Donald Trump started the war against Iran as oil prices pull back on the prospect of further negotiations aimed at ending the more than six-week conflict.
What Bloomberg’s Strategists Say:
“The S&P 500 is rising because markets are leaning into the belief the Iran War stops short of a full economic hit.
The ceasefire appears to be holding, Saudi east-west pipeline capacity has been restored, and Iran is considering a pause in its own shipments through the Strait of Hormuz to facilitate further talks.
Each headline on renewed negotiations keeps diplomacy alive, allowing traders see a smaller tail risk.“
— Michael Ball, Macro Strategist, Markets Live.
Corporate Highlights:
* Citigroup Inc. traders rode a wave of volatility to push the Wall Street bank to its highest quarterly revenue in a decade, notching another success for Chief Executive Officer Jane Fraser’s turnaround plan.
* JPMorgan Chase & Co.’s traders posted their highest-ever quarterly revenue in the first three months of the year, with record stock-trading results boosting the total past the firm’s previous record by almost $2 billion.
* BlackRock Inc. took in a net $130 billion of client cash in the first quarter, with investor money continuing to pour in despite volatility in the public and private markets and protracted uncertainty over the war in Iran.
* Wells Fargo & Co. said its exposure to private-credit firms was roughly $36.2 billion in the first quarter, offering details on a category closely watched by investors.
* United Airlines Holdings Inc. Chief Executive Officer Scott Kirby has floated a possible combination with American Airlines Group Inc., according to people familiar with the conversations. American Airlines jumped more than 7% in premarket trading while United rose more than 3%.
* Lucid Group Inc. named a new chief executive officer and announced $750 million of fresh investment from its two biggest backers, moves to shore up its operations as the electric- vehicle maker approaches a crucial production stretch.
* Johnson & Johnson reported first-quarter sales above Wall Street’s expectations and bumped up its outlook for the year, led by strong growth of new cancer medicines and a drug for treatment-resistant depression.
* BP Plc said its oil trading performance was exceptional in the first quarter as the Iran war caused a surge in prices.
* A Blue Owl Capital Inc. private credit fund raised $400 million from bond investors Monday, marking the first deal ofits kind in over a month.
Some of the main moves in markets:
Stocks
* The S&P 500 rose 1.1% as of 1:23 p.m. New York time
* The Nasdaq 100 rose 1.6%
* The Dow Jones Industrial Average rose 0.6%
* The MSCI World Index rose 1.3%
Currencies
* The Bloomberg Dollar Spot Index fell 0.3%
* The euro rose 0.3% to $1.1798
* The British pound rose 0.5% to $1.3569
* The Japanese yen rose 0.4% to 158.80 per dollar
Cryptocurrencies
* Bitcoin rose 2.4% to $74,967.45
* Ether rose 4.1% to $2,344.88
Bonds
* The yield on 10-year Treasuries declined three basis points to 4.26%
* Germany’s 10-year yield declined seven basis points to 3.02%
* Britain’s 10-year yield declined nine basis points to 4.78%
Commodities
* West Texas Intermediate crude fell 6.6% to $92.58 a barrel
* Spot gold rose 1.9% to $4,828.94 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Isabelle Lee.
Have a lovely evening.
Be magnificent!
As ever,
Carolann
A person’s greatest virtue is his ability to correct his mistakes and continually make a new person of himself. –Yang-Ming Wang, 1472-1529.
Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor
Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7
Tel: 778.430.5808
(C): 250.881.0801 (Text Only)
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