Dear Friends,
Tangents: Happy Earth Day.🌍
| Earth from space: Incredible images of our planet from above |
Celebrate Earth Day with these bird’s eye views of Earth and discover what’s really happening in these incredible images. Read more.
April 22, 1955: Congress orders all US coins to bear the motto In God We Trust.
April 22, 1970: The first Earth Day is held helping mainstream modern environmental politics and mass public mobilization.
April 22, 2010: The Deepwater Horizon oil platform, operated by BP, sank into the Gulf of Mexico two days after a massive explosion that killed 11 workers. Go to article.
Henry Fielding, writer, b. 1707
Germaine de Stael, salonnaire, b. 1766.
Charles Mingus, bassist, b. 1922.
Jack Nicholson, actor, b. 1937.
| NASA shuts off another Voyager 1 instrument as humanity’s most distant spacecraft prepares for risky ‘Big Bang’ maneuver to save power |
After nearly 50 years in space, the two Voyager spacecraft are very low on nuclear power. Voyager 1 just shut off another instrument to save the mission.
| Would you go on vacation to Mars? |
Mars is a cold, desert world covered in red dust, towering volcanoes and deep canyons. It’s also one of the most studied worlds in our solar system and one of the most likely places humans could explore next. Here’s what it would be like to spend a weekend there. Watch now.
| ‘Nations need to prepare now’: Key Atlantic ocean current is much closer to collapse than scientists thought |
An alarming study claims the Atlantic meridional overturning circulation is weakening more than believed previously. But experts say its findings are far from the final word. Read more.
| Florida is facing its most intense drought in 15 years. Here’s how it got so bad and how long it will last. |
More than 70% of the state is under "extreme" to "exceptional" drought conditions, and other parts of the U.S. Southeast are similarly affected. But why, and what are the impacts? Read more.
‘Bathtub ring’ offers new evidence for ancient Mars ocean
Scientists believe they have found fresh proof of an ancient ocean on Mars in the form of a "bathtub ring" it left after it dried up billions of years ago.
‘Robots don’t bleed’
Ukraine is sending machines into the battlefield in place of human soldiers. See how they could help counter Russia’s manpower advantage.
A promising turn in cancer research
After a year of turmoil, cancer researchers say they are seeing promising signs for mRNA vaccines.
PHOTOS OF THE DAY
Evighedsfjorden (Eternity fjord), Greenland
‘A beautiful fall day in the fjord with pristine waters, warm sunshine, jagged hills and the glacier.
’Photograph: Mehmet Zeytinoglu
London, UK
‘Springtime at Kew Gardens is always guaranteed to be a stunner, but the tulip-strewn lawns along Cherry Walk are easily my favourite sight during the April-May period. And for good reason, especially if you’re there on a beautiful sunny day like I was.
’Photograph: Sebastian Kettley
Valley of Death, Atacama Desert, Chile
‘I managed to take this “selfie” in a moonless Atacama night and captured the arch of the Milky Way as well. It’s a panorama of 24 images; one of which I raced up a small hill to get in the shot.’
Photograph: Dave Lynch
Market Closes for April 22nd, 2026
| Market Index |
Close | Change |
| Dow Jones |
49490.03 | +340.65 |
| +0.69% | ||
| S&P 500 | 7137.90 | +73.89 |
| +1.05% | ||
| NASDAQ | 24657.57 | +397.61 |
| +1.64% | ||
| TSX | 33955.11 | +146.81 |
| +0.43% |
International Markets
| Market Index |
Close | Change |
| NIKKEI | 59585.86 | +236.69 |
| +0.40% | ||
| HANG SENG |
26163.24 | -324.24 |
| -1.22% | ||
| SEN SEX | 78516.49 | -756.84 |
| -0.95% | ||
| FTSE 100* | 10476.46 | -21.63 |
| -0.21% |
Bonds
| Bonds | % Yield | Previous % Yield |
| CND. 10 Year Bond |
3.491 | 3.483 |
| CND. 30 Year Bond |
3.914 | 3.900 |
| U.S. 10 Year Bond |
4.3025 | 4.2916 |
| U.S. 30 Year Bond |
4.9040 | 4.8999 |
| BOC Close | Today | Previous |
| Canadian $ | 0.7315 | 0.7319 |
| US $ |
1.3670 | 1.3662 |
| Euro Rate 1 Euro= |
Inverse | |
| Canadian $ | 0.6248 | 1.6004 |
| US $ |
0.8542 | 1.1707 |
Commodities
| Gold | Close | Previous |
| London Gold Fix |
4776.75 | 4813.55 |
| Oil | ||
| WTI Crude Future | 97.07 | 92.13 |
Marke Commentary:
On this day in 1980, market guru Joe Granville told his 1,500 premium subscribers (who paid an extra $500 annually for his market-timing telephone alerts) to buy stocks. The next day, the Dow Jones Industrial Average surged 4%. “I don’t think that I will ever make a serious mistake on the stock market for the rest of my life,” crowed Granville. However, financial newsletter expert Mark Hulbert later calculated that Granville’s followers lost 98% of their money following his advice between 1980 and 1987.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose 0.4% at 33,955.11 in Toronto.
The move follows the previous session’s decrease of 1.6%.
Today, materials stocks led the market higher, as 5 of 11 sectors gained; 134 of 220 shares rose, while 83 fell.
Cameco Corp. contributed the most to the index gain, increasing 8.4%.
Curaleaf Holdings Inc. had the largest increase, rising 25.7%.
Insights
* This month, the index rose 3.6%
* The index advanced 40% in the past 52 weeks. The MSCI AC Americas Index gained 35% in the same period
* The S&P/TSX Composite is 1.7% below its 52-week high on March 2, 2026 and 40.8% above its low on April 22, 2025
* The S&P/TSX Composite is down 0.6% in the past 5 days and rose 8.4% 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 16.7 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 17.25% compared with 17.28% in the previous session and the average of 18.02% over the past month
Index Points
Materials | 91.8879| 1.4| 45/14
Energy | 90.1292| 1.6| 34/2
Information Technology | 16.2958| 0.6| 4/5
Communication Services | 14.5321| 2.5| 1/4
Health Care | 3.9662| 4.4| 3/1
Utilities | -1.5339| -0.1| 7/7
Real Estate | -1.8651| -0.4| 4/15
Consumer Discretionary | -1.9318| -0.2| 5/4
Consumer Staples | -10.5171| -1.0| 2/7
Industrials | -14.3049| -0.4| 13/16
Financials | -39.8599| -0.4| 16/8
Cameco | 41.0200| 8.4| 52.4| 37.6
Rogers Communications| 16.5200| 13.6| 217.0| -1.2
Wheaton Precious Metals | 12.8100| 2.1| 2.6| 22.7
Scotiabank | -8.7190| -1.0| -32.7| 1.5
TD Bank | -13.8700| -0.8| -70.7| 10.5
RBC | -15.1700| -0.6| -36.5| 3.1
MT Newswires:
The Toronto Stock Exchange on Wednesday recovered from its day-prior slump, boosted by cannabis stocks and higher commodity prices, even as National Bank said the positive impact of commodities on the real economy is expected to be limited.
The resources-heavy S&P/TSX Composite Index closed up 146.81 points, or 0.4%, to 33,955.11, after losing near 550 points on Tuesday, only its third loss in the last 16 sessions.
Most sectors were higher, led by Health Care, up 6.6%, amid reports the U.S. Justice Department will ease restrictions around the cannabis market this week.
Among individual related stocks, Curaleaf (CURA.TO) jumped 25%.
Among other sectors, Base Metals was up 3.7% and Telecom up 2.75%.
The Battery Metals Index was down 5.8%.
National Bank published its Monthly Economic Monitor on Economics and Strategy report entitled ‘Can the commodities boom revitalize the economy?’.
National Bank noted the commodity price surge is bolstering terms of trade, public finances, and corporate profits in Canada’s resource sector.
"But its positive impact on the real economy is expected to be limited, it said, before adding: "Despite a sharp rise in energy and commodity prices, the resource sector, which is not labour-intensive and faces a lack of incentives to invest, is unlikely to generate many jobs, while weakness persists in other sectors, including manufacturing."
At the same time, the bank said, consumers face several headwinds, including inflation that is set to rise temporarily and a downturn in the housing market is exacerbated by population decline, which is resulting in a negative wealth effect.
The bank added: "The slowdown in immigration is limiting economic growth in 2026, which is expected to come in at 1.0%, a pace sufficient for the labour market to improve somewhat by the end of the year.
A relatively smooth renegotiation of CUSMA is necessary for such an improvement to materialize."
Of commodities today, West Texas Intermediate crude oil rose after the United States extended a ceasefire with Iran while continuing to blockade the country’s ports, and as Iran attacked ships in the Persian Gulf while rejecting talks with the U.S. until the blockade is lifted.
WTI crude oil for June delivery closed up US$3.29 to settle at US$92.96 per barrel, while June Brent oil was last seen up US$3.65 to US$102.13.
Gold traded higher on Wednesday following two losing sessions after the United States extended a ceasefire related to its war on Iran.
Gold for June delivery was up US$35.70 to US$4,755.30 per ounce.
US
By Rita Nazareth
(Bloomberg) — Stocks climbed to all-time highs as a slew of strong corporate results and President Donald Trump’s extension of a ceasefire with Iran revived risk appetites after a two-day retreat. Bitcoin rallied.
The S&P 500’s 1% advance extended the gauge’s rally for the month, which is already set to be the best since 2020.
Chipmakers climbed for a 16th straight day, the longest-ever advance.
Boeing Co. jumped on solid first-quarter deliveries.
In late hours, Tesla Inc. jumped as earnings beat estimates.
Texas Instruments Inc. gave a strong forecast for the current period.
“Stocks are rebounding after suffering the first back-to- back losses of the month, with President Trump’s ceasefire extension and upbeat earnings reports driving continued equity upside,” said Jose Torres at Interactive Brokers.
Trump’s ceasefire extension represented a retreat from threats to resume the bombing of Iran in the event a deal couldn’t be reached by a Wednesday deadline, a move that would have revived a war that’s killed thousands of people and sent energy prices soaring.
The question now is whether the two sides can reach a deal.
Tensions remain high as Tehran keeps a tight grip on the Strait of Hormuz, controlling passage through the trade route and firing on ships.
The US refuses to lift its blockade on Iranian- linked vessels.
Brent oil settled near $102.
The situation is “calm and chaotic” at the same time, according to Kenny Polcari at SlateStone Wealth.
“While the Iran conflict is ongoing, my sense is that investors are already starting to look through it and focus on what really matters,” he said.
“We’ve seen this movie before — the headlines hit, the market reacts, then it settles down and refocuses on fundamentals.”
Strong corporate profits, the revival of the artificial- intelligence trade and an otherwise resilient economy have buoyed stocks despite lingering geopolitical risks.
About 81% of the S&P 500 companies reporting first-quarter results have beaten analyst earnings estimates so far, according to data compiled by Bloomberg.
While there are still uncertainty and saber rattling over the Iran conflict, markets are forward-looking, noted Rick Gardner at RGA Investments.
“It’s possible that we see a continuation of negative headlines, ultimatums and deadlines for negotiations, but that doesn’t mean that stocks will react meaningfully to each one, since markets already priced-in the worst of the conflict,” he said.
Corporate Highlights:
* Cannabis shares rallied on news reports the US Justice Department is expected to reclassify marijuana into a less restrictive federal category.
* The Trump administration is close to reaching a financial rescue package for embattled Spirit Aviation Holdings Inc., according to people familiar with the matter.
* Alphabet Inc.’s Google Cloud division unveiled the latest generation of its tensor processing unit, or TPU, a homegrown chip that’s designed to make AI computing services faster and more efficient.
* GE Vernova Inc., one of the world’s only makers of big natural-gas turbines, jumped after its electrification unit sold more grid equipment, including substations and transformers, to data center customers in the first quarter than all of last year.
* Taiwan Semiconductor Manufacturing Co. will hold off on deploying ASML Holding NV’s most cutting-edge lithography machines for chip production through 2029 to save money, dealing a potential setback to the Dutch maker of the costly equipment.
What Bloomberg Strategists say…
“Wednesday’s return to the post-shock playbook is happening as uncertainty is still high. Investors have gone back to taking comfort from earnings beats, AI capex growth tailwinds and a US consumer that has so far absorbed higher gasoline prices better
than feared. That leaves a painful asymmetry.”
—Michael Ball, Macro Strategist, Markets Live.
Some of the main moves in markets:
Stocks
* The S&P 500 rose 1% as of 4 p.m. New York time
* The Nasdaq 100 rose 1.7%
* The Dow Jones Industrial Average rose 0.7%
* The MSCI World Index rose 0.6%
Currencies
* The Bloomberg Dollar Spot Index was little changed
* The euro fell 0.3% to $1.1705
* The British pound was little changed at $1.3502
* The Japanese yen fell 0.1% to 159.56 per dollar
Cryptocurrencies
* Bitcoin rose 4.2% to $78,920.1
* Ether rose 3.7% to $2,400.52
Bonds
* The yield on 10-year Treasuries advanced one basis point to 4.30%
* Germany’s 10-year yield was little changed at 3.01%
* Britain’s 10-year yield advanced three basis points to 4.91%
Commodities
* West Texas Intermediate crude rose 3.2% to $92.55 a barrel
* Spot gold rose 0.4% to $4,738.52 an ounce
Have a lovely evening.
Be magnificent!
As ever,
Carolann
There is a pleasure in the pathless woods,
There is a rapture on the lonely shore,
There is society, where none intrudes,
By the deep sea, and music in its roar.
-Lord Byron, 1788-1824.
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)
Toll Free: 1.877.430.5895
Fax: 778.430.5828