Dear Friends,
Tangents:
April 7, 1948: The world Health Organization is established, creating a permanent global body for public health coordination.
April 7, 2001: NASA’s Mars Odyssey spacecraft took off on a six-month, 286-million-mile journey to the red planet. Go to article.
April 7, 1805: Beethoven’s Eroica premieres.
William Wordsworth, poet, b. 1770.
Billie Holiday, singer, b. 1915.
| ‘They could spend 4 or 5 hours per day underwater’: How humans adapted to the most challenging environments |
In the book "Adaptable," evolutionary anthropologist Herman Pontzer explores human biology and development, and how people have evolved to survive everywhere on Earth. Read More.
| The hungriest black holes in the universe are running out of food, survey of 8,000 cosmic monsters reveals |
Astronomers studied 1.3 million galaxies and 8,000 X-ray-spewing supermassive black holes to find out why these gravitational monsters are growing more slowly than ever. Read More.
| ‘This generation’s moment’: How the Artemis missions will reframe humanity’s relationship with the moon |
Live Science spoke with Rebecca Boyle, author of "Our Moon," about how the moon has been viewed both culturally and scientifically through history. Read More.
| The Artemis II astronauts have just flown farther from Earth than any humans in history |
Artemis II is now the farthest crewed mission from Earth in history. The occasion was marked by a number of poignant moments. Read More.
| We went to Finland to hear about the new ‘sand battery’ that will turn stored renewable energy back into power for the electrical grid |
Engineers are testing a new "sand battery" that could power industries and communities using stored renewable energy. Read More.
Angel Reese traded
One of the biggest names in the WNBA is changing teams.
Canada’s ghostly spirit bears
Fewer than 100 of these majestic creatures are believed to remain in the vast protected expanse of the Great Bear Rainforest.
How India plans to count 1.4 billion people for its 2026 census
India has kicked off a mammoth exercise to count its entire population. Here’s how it will be done.
AI will redefine how cities operate, says tech chief
At the Smart City Summit and Expo 2026 in Taipei, ASUS co-CEO Samson Hu discusses how artificial intelligence will change cities.
PHOTOS OF THE DAY
Berlin, Germany
‘Neo-classical buildings and monuments set against a lowering sky and fringed by modern postwar offices.
’Photograph: John Puntis
Carpathian Mountains, Romania
‘A cool, sunny autumn morning on the way to Peleș Castle. The view had us all captivated.
’Photograph: Matthew Stein
Milford Sound, South Island, New Zealand
‘Moody lighting during a damp cruise.
’Photograph: Mike Heinemann
Market Closes for April 7th, 2026
| Market Index |
Close | Change |
| Dow Jones |
46584.46 | -85.42 |
| -0.18% | ||
| S&P 500 | 6616.85 | +5.02 |
| +0.08% | ||
| NASDAQ | 22017.85 | +21.51 |
| +0.10% | ||
| TSX | 33237.52 | +55.54 |
| +0.17% |
International Markets
| Market Index |
Close | Change |
| NIKKEI | 53429.56 | +15.88 |
| +0.03% | ||
| HANG SENG |
25116.53 | -177.50 |
| -0.70% | ||
| SEN SEX | 74616.58 | +509.73 |
| +0.69% | ||
| FTSE 100* | 10348.79 | -87.50 |
| -0.84% |
Bonds
| Bonds | % Yield | Previous % Yield |
| CND. 10 Year Bond |
3.481 | 3.466 |
| CND. 30 Year Bond |
3.898 | 3.881 |
| U.S. 10 Year Bond |
4.2931 | 4.3307 |
| U.S. 30 Year Bond |
4.8704 | 4.8866 |
| BOC Close | Today | Previous |
| Canadian $ | 0.7224 | 0.7187 |
| US $ |
1.3843 | 1.3913 |
| Euro Rate 1 Euro= |
Inverse | |
| Canadian $ | 0.6181 | 1.6179 |
| US $ |
0.8555 | 1.1687 |
Commodities
| Gold | Close | Previous |
| London Gold Fix |
4639.35 | 4639.35 |
| Oil | ||
| WTI Crude Future | 112.95 | 112.41 |
Market Commentary:
On this day in 1720, King George I, who appears to have been bribed with secret grants of stock and insider information, signed the South Sea Bill, granting virtual monopoly powers of financing to the South Sea Co. The stock closed the day at £335, up from less than £100 a few weeks earlier. By year-end, many investors had lost 80% of their money.
🍒Canada🍓
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose for the fifth day, climbing 0.2%, or 55.54 to 33,237.52 in Toronto.
The index advanced to the highest closing level since March 10.
Toronto-Dominion Bank contributed the most to the index gain, increasing 1.1%.
Wesdome Gold Mines Ltd. had the largest increase, rising 6.8%.
Today, 110 of 221 shares rose, while 106 fell; 5 of 11 sectors were higher, led by energy stocks.
Insights
* The index advanced 45% in the past 52 weeks. The MSCI AC Americas Index gained 32% in the same period
* The S&P/TSX Composite is 3.8% below its 52-week high on March 2, 2026 and 49.5% above its low on April 7, 2025
* The S&P/TSX Composite is up 4.1% in the past 5 days and rose 0.5% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 21.7 on a trailing basis and 16.6 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$5.25t
* 30-day price volatility fell to 18.46% compared with 18.55% in the previous session and the average of 18.84% over the past month
Index Points
Energy | 56.3205| 0.9| 30/7
Materials | 38.0949| 0.6| 35/23
Financials | 37.2375| 0.4| 13/11
Utilities | 2.5204| 0.2| 9/4
Real Estate | 1.9872| 0.4| 14/3
Health Care | -1.1105| -1.3| 1/3
Consumer Staples | -6.0368| -0.5| 1/9
Consumer Discretionary | -11.1606| -1.1| 0/9
Communication Services | -13.7137| -2.2| 0/5
Industrials | -18.4929| -0.5| 6/23
Information Technology | -30.0954| -1.2| 1/9
TD Bank | 16.6900| 1.1| 129.4| 4.3
Canadian Natural Resources | 14.5800| 1.5| -53.3| 46.8
Enbridge | 11.9200| 1.0| -14.3| 15.0
Telus | -4.9890| -2.6| 69.0| -3.6
Constellation Software | -8.9520| -2.6| -44.8| -28.0
Shopify | -20.5200| -1.5| 70.0| -26.3
MT Newswires:
The Toronto Stock Exchange rallied late Tuesday and made it five winning sessions in a row as Pakistan’s Prime Minister asked U.S. President Trump to extend his deadline to attack Iran’s power plants and other civilian infrastructure for two weeks.
The S&P/TSX Composite Index closed up 55.55 points, or near 0.2%, to 33,237.52, adding to the more than 1,300 points gained over the prior four trading days, with Energy (up 1.2%) leading gainers on a higher West Texas Intermediate crude oil price.
For most of Tuesday’s session the index was down as investors appeared to be clock watching ahead of the latest deadline set by U.S. President Donald Trump, who threatened a "whole civilization will die tonight, never to be brought back again" if Iran does not meet a deadline of 8:00 p.m. Eastern time to re-open the Strait of Hormuz.
Still, given the possibility that Trump’s threats could lead to an expanded war in the Persian Gulf region, and further disrupt global trade and markets, losses on the resources heavy TSX were kept at relatively modest levels, capped by higher commodity prices.
Then, late Tuesday afternoon, the BBC reported Pakistan’s Prime Minister Shehbaz Sharif called on Trump to extend his deadline for two weeks "to allow diplomacy to run its course".
He also asked for Iran to open the Strait of Hormuz.
The White House has confirmed that Trump has been made aware of Pakistan’s proposal.
Elsewhere, Pope Leo, who is American, said threats directed at Iran’s population are "unacceptable".
Of commodities today, West Texas Intermediate crude rose again, climbing for a third session on a brewing battle for control in the Strait of Hormuz, the chokepoint for about 20% of the world’s daily oil demand.
WTI crude oil for May delivery closed up US$0.54 to settle at US$112.95 per barrel, the highest since June 2022, while June Brent oil was down $0.07 to US$109.70.
Gold had edged higher by midafternoon Tuesday, with the dollar little changed, even as the war on Iran continues to raise inflation worries while a report showed a larger than expected drop in U.S. durable goods orders in February, showing a weakening manufacturing sector.
Gold for May delivery was up US$16.40 to US$4,701.10 per ounce.
US
By Rita Nazareth
(Bloomberg) — Hopes for a diplomatic way out of the war in the Middle East spurred a bounce in stocks as oil fell ahead of President Donald Trump’s deadline for Iran to agree to a ceasefire.
In the final stretch of a jittery Wall Street session, markets got a degree of relief as Pakistan urged the US for a two-week extension of the deadline for Tehran to reopen the Strait of Hormuz.
The S&P 500 erased a 1.2% drop. US crude slipped to around $112 in late hours.
Bond yields and the dollar fell.
“I can’t tell you, because right now we’re in heated negotiations,” Trump said in a telephone interview with Fox News when asked about the Pakistani request.
White House Press Secretary Karoline Leavitt said in a statement earlier that Trump “has been made aware of the proposal, and a response will come.”
Trump earlier Tuesday threatened to wipe out Iran’s “whole civilization” as the US continued attacks on the country’s main oil export facility.
That prompted Iranian mediators to halt itsparticipation in diplomatic discussions, according to a person familiar with the matter who asked not to be identified discussing private deliberations.
Trump began issuing deadlines on March 21 to force Iran to reopen the Strait of Hormuz, which carries roughly a fifth of seaborne oil shipments, and has repeatedly extended the timeline.
While geopolitical risks remained front and center, traders kept an eye on the latest economic data for clues on any potential impacts of the war.
Near-term inflation expectations jumped in March by the most in a year as consumers anticipated higher gas and food prices with the onset of war in the Middle East, according to a Federal Reserve Bank of New York survey.
Fed Bank of New York President John Williams told Bloomberg Television his outlook for underlying price pressures was largely unchanged despite his expectation that higher energy costs stemming from the war will boost overall inflation.
His Chicago counterpart Austan Goolsbee said the spike in oil prices, coupled with low hiring by businesses, raises concern about the US economy.
“I’m cautious — slash — nervous about it,” he said at an event in Detroit.
Corporate Highlights:
* Apple Inc.’s first foldable phone is on track to arrive during the company’s normal iPhone launch period later this year, people with knowledge of the matter said, rebutting concerns about major manufacturing snags.
* Intel Corp. is joining Elon Musk’s long-shot effort to develop semiconductors for Tesla Inc., SpaceX and xAI, marking a surprising twist in the chipmaker’s comeback bid.
* Pacific Investment Management Co. is in talks with Bank of America Corp. to help provide roughly $14 billion of debt financing to build a massive Oracle Corp. data center in Michigan, according to people familiar with the matter.
* Anthropic PBC said its revenue run rate has now topped $30 billion, up from $9 billion at the end of 2025, and confirmed plans to work with Broadcom Inc. and Google to power its burgeoning operations.
* Bill Ackman is pitching a deal for Universal Music Group NV — the record label giant behind celebrities including Taylor Swift and Drake — that he’s claiming will dramatically boost the value of company largely by moving its listing to the US.
* Shares of major insurance companies climbed as the US Medicare program will pay private insurers 2.48% more in 2027, a meaningful improvement over the initial rates the agency proposed in January.
What Bloomberg strategists say…
“If war concerns prevail, the combination of strong corporate guidance and higher dispersion would shield equities from the drag of higher oil prices.”
—Michael Ball, Macro Strategist, Markets Live.
Some of the main moves in markets:
Stocks
* The S&P 500 was little changed as of 4 p.m. New York time
* The Nasdaq 100 was little changed
* The Dow Jones Industrial Average fell 0.2%
* The MSCI World Index was little changed
Currencies
* The Bloomberg Dollar Spot Index fell 0.3%
* The euro rose 0.5% to $1.1599
* The British pound rose 0.4% to $1.3294
* The Japanese yen was little changed at 159.55 per dollar
Cryptocurrencies
* Bitcoin fell 0.6% to $69,433.49
* Ether fell 1.4% to $2,118.61
Bonds
* The yield on 10-year Treasuries declined three basis points to 4.30%
* Germany’s 10-year yield advanced nine basis points to 3.08%
* Britain’s 10-year yield advanced seven basis points to 4.90%
Commodities
* West Texas Intermediate crude fell 0.4% to $111.93 a barrel
* Spot gold rose 1.3% to $4,709.82 an ounce
Have a lovely evening.
Be magnificent!
As ever,
Carolann
Everything you say should be true, but not everything true should be said. –Francois-Marie Arouet, 1694-1778.
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