Dear Friends,
Tangents: Happy Friday Eve.
August 6, 1945: the United States dropped an atomic bomb on Hiroshima, Japan, that instantly killed an estimated 66,000 people in the first use of a nuclear weapon in warfare. Go to article.
August 6, 1991: Tim Berners-Lee announces the World Wide Web on a public newsgroup. Opening his lined information system beyond CERN and beginning its global spread.
Alfred Lord Tennyson, poet, b. 1809.
Andy Warhol, artist, b. 1928.rt
More than 900 million SpaceX shares unlock today
The change will more than double the publicly available shares of Elon Musk’s company, SpaceX. Here’s what to know.
Habits that shape healthy aging
New research suggests avoiding these three things in middle age may delay dementia by up to 13 years.
Highest resolution view of the sun yet reveals magnetic mysteries
The world’s most powerful solar telescope has captured the highest resolution view of the sun’s surface – and uncovered a process that drives solar activity.
MIT unveils a robot that flies and swims
Also on the innovation front, some researchers believe this $300 robot could help protect the ocean.
What the ‘Strongest El Ni on Record’ actually means
One part of the US is dealing with dangerous flooding while wildfires and intense heat grip another. To help make sense of these weather extremes, CNN Senior Climate Reporter Andrew Freedman explains what scientists mean when they describe an El Ni as the "strongest on record."
If Earth’s history were condensed into 24 hours, life appears around 4 am, dinosaurs vanish near 11:40 pm, and modern humans arrive in the final seconds.
FDA approves first mRNA vaccine for seasonal flu
The Food and Drug Administration’s approval of an mRNA vaccine for flu comes after the agency initially refused to review the approval request for the shot.
First photos of SpaceX lunar rocket crash show blackened hole torn into the moon’s surface
New images from South Korea’s Danuri lunar orbiter reveal where a runaway SpaceX rocket part slammed into the moon on Wednesday.
Crystal made from 13-sided ‘einstein’ shape bends light in ways nobody imagined
Scientists carved a 13-sided shape called an "einstein" into a chip and discovered that it steers light in ways no other crystal does.
| Engineers build world’s first portable diamond-powered quantum computer — it works at room temperature and can be plugged into an outlet |
The world’s first portable, room-temperature quantum computer with more than 10 qubits utilizes flawed lab-made diamonds. The quantum system fits into a standard server rack and connects to a typical power grid.
The Met’s Galliano show is already controversial. Can it be done right?
Galliano, whose designs blur the boundaries between clothing and art, will be just the third living fashion designer to get a Met retrospective, following Rei Kawakubo in 2017, the much-lauded designer behind Japanese house Comme des Garns, and Yves Saint Laurent in 1983, the great French couturier who succeeded Christian Dior.
| Did Celtic women fight in battle? |
The Celts were highly regarded as warriors in the ancient world, but were all fighters’ men, or did Celtic women also fight in battle?
PHOTOS OF THE DAY
The sun
The highest-resolution image of the sun’s surface ever captured, taken by the US National Science Foundation solar observatory
Photograph: NSF/NSO/AURA/MPS/AFP/Getty Images
Suzhou,
ChinaA spray cooling system at a lotus market during a heatwave in Jiangsu province
Photograph: VCG/Getty Images
Bejrawiya, Sudan
A visitor walks among pyramids at the Meroe archaeological site
Photograph: Mohnd Blal/AP
Market Closes for August 6th, 2026
| Market Index |
Close | Change |
| Dow Jones |
53885.10 | -464.02 |
| -0.85% | ||
| S&P 500 | 7709.96 | -13.59 |
| -0.18% | ||
| NASDAQ | 26348.35 | -15.09 |
| -0.06% | ||
| TSX | 36136.31 | -10.11
-0.03% |
International Markets
| Market Index |
Close | Change |
| NIKKEI | 65683.26 | -617.18 |
| -0.93% | ||
| HANG SENG |
25530.28 | -385.54 |
| -1.49% | ||
| SEN SEX | 78954.76 | +373.76 |
| +0.48% | ||
| FTSE 100* | 10867.89 | -20.41 |
| -0.19% |
Bonds
| Bonds | % Yield | Previous % Yield |
| CND. 10 Year Bond |
3.622 | 3.559 |
| CND. 30 Year Bond |
4.025 | 3.972 |
| U.S. 10 Year Bond |
4.6778 | 4.6127 |
| U.S. 30 Year Bond |
5.2242 | 5.1680 |
| BOC Close | Today | Previous |
| Canadian $ | 0.7135 | 0.7136 |
| US $ |
1.4014 | 1.4012 |
| Euro Rate 1 Euro= |
Inverse | |
| Canadian $ | 0.6192 | 1.6148 |
| US $ |
0.8678 | 1.1522 |
Commodities
| Gold | Close | Previous |
| London Gold Fix |
4246.48 | 4248.83 |
| Oil | ||
| WTI Crude Future | 77.29 | 75.22 |
Market Commentary:
On this day in 1979, Paul Volcker became chairman of the Federal Reserve. He would take draconian steps to reduce inflation, setting off a recession but also laying the groundwork for a long bull market in stocks and bonds.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite declined slightly to 36,136.31 in Toronto.
The move follows the previous session’s increase of 1%.
Celestica Inc. contributed the most to the index decline, decreasing 13.0%.
ATS Corp. had the largest drop, falling 27.0%.
Today, 118 of 218 shares fell, while 97 rose; 8 of 11 sectors were lower, led by industrials stocks.
Insights
* So far this week, the index rose 2.6%, heading for the biggest advance since the week ended April 3
* The index advanced 29% in the past 52 weeks. The MSCI AC Americas Index gained 21% in the same period
* The S&P/TSX Composite is 0.8% below its 52-week high on Aug. 5, 2026 and 30.5% above its low on Aug. 7, 2025
* The S&P/TSX Composite is up 2.3% in the past 5 days and rose 2.6% 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 17.5 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.1% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$5.7t
* 30-day price volatility fell to 10.62% compared with 10.81% in the previous session and the average of 10.77% over the past month
Index Points
Industrials | -27.5397| -0.7| 8/22
Consumer Discretionary | -18.7909| -1.7| 1/7
Financials | -14.1238| -0.1| 10/12
Real Estate | -7.6025| -1.6| 1/16
Utilities | -6.5449| -0.5| 3/11
Consumer Staples | -4.8460| -0.4| 2/7
Information Technology | -1.3527| 0.0| 7/2
Health Care | -0.3201| -0.3| 1/4
Communication Services | 13.4946| 2.4| 5/0
Energy | 25.9568| 0.4| 33/5
Materials | 31.5597| 0.5| 26/32
Celestica | -53.0600| -13.0| 102.7| 9.0
Suncor | -17.2000| -2.4| 61.9| 41.2
Brookfield Corp | -10.6200| -1.1| -6.5| -2.1
Agnico Eagle Mines Ltd | 11.1900| 1.4| 74.8| 1.1
Canadian Natural Resources | 14.3200| 1.6| -11.2| 37.3
Shopify | 38.0200| 2.2| 17.3| -6.6
MT Newswires:
The S&P/TSX Composite Index fell from the prior session’s record high and closed down on Thursday as weakness in technology stocks offset gains in battery metals and energy shares.
Meanwhile, investors assessed a rebound in oil prices amid renewed concerns over potential supply disruptions in the Middle East.
The index closed down 10.11 points, or 0.03%, at 36,136.31, with mixed sectors.
The Battery Metals Index led gainers, up 4.8%, while energy rose 0.62%.
Information Technology led decliners, dropping 1.5%.
In commodities, West Texas Intermediate (WTI) and Brent crude rebounded after reports that Iran’s parliament was considering legislation to restrict US and Israeli vessels from transiting the Strait of Hormuz, reviving concerns over potential supply disruptions in one of the world’s most important oil shipping routes.
September WTI crude oil contract closed up $2.07, or 2.8%, and settled at $77.29 per barrel, while October Brent oil was last seen up $2.99, or 3.8%, at $82.44 per barrel.
Meanwhile, spot gold was last seen down 0.01%, or $0.63, at $4,246.20 per ounce, while December Comex gold futures dropped 0.02%, or $0.80, to $4,304.40 per ounce.
In real estate, Greater Toronto Area’s resale housing market tightened in July as new listings fell sharply, which could lead to home price stabilization in the second half of the year, Toronto Regional Real Estate Board (TRREB) said on Thursday.
Market conditions became more competitive for buyers as new listings fell 17.8% year over year to 14,484 in July, while home sales declined just 0.9% to 5,995, TRREB wrote in a note.
Separately, National Bank of Canada Capital Markets said Canada’s business investment outlook is improving, with Artificial Intelligence spending emerging as an increasingly important driver of capital spending.
"After a slow start, AI investment finally seems to be taking off in Canada," wrote National Bank Senior Economist Jocelyn Paquet in the note.
In stocks, Bell Canada’s parent company BCE (BCE.TO) closed up C$1.01 at C$31.87 after reporting a 3.2% year-over-year increase in adjusted Q2 earnings to C$0.65 per share.
Cascades (CAS.TO) touched a nearly five-year high at C$15.50 per share, after it reported Q2 earnings beat Thursday morning.
Cascades shares closed up 8.6% on the Toronto Stock Exchange.
Meanwhile, Canadian Natural Resources (CNQ.TO) closed up 1.6% at C$63.83 after booking Q2 adjusted net earnings of C$2.19 per diluted share from C$0.71 a year earlier.
US
By Rita Nazareth
(Bloomberg) — A flare-up in geopolitical risks sent stocks and bonds lower as oil jumped, fueling inflation worries before Friday’s jobs report.
Escalating tensions in the Middle East and lack of clarity on a deal to revive the Strait of Hormuz drove Brent crude above $82.
Higher energy costs stoked concerns the Federal Reserve will have to raise rates.
The S&P 500 fell for a second straight day.
Memory companies Sandisk Corp. and Western Digital Corp.
sank as their forecasts underwhelmed investors.
The dollar rose.
Iran will seek to bar US and Israeli ships from the Strait of Hormuz and require compensation from hostile countries before they’re allowed to use it, according to local media reports on a proposed Iran-Oman deal to manage the crucial waterway.
Separately, Fars news agency said Iranian naval forces had struck “hostile targets” at the entrance to the strait.
Those geopolitical tensions resurfaced at a time when some Fed officials are pushing to boost rates to tamp down price pressures.
The latest round of data continued to reflect labor- market resilience, reinforcing the assumption that inflation will drive the September central bank decision, said Vail Hartman at BMO Capital Markets.
“Near-term risks remain, especially if US data stay firm, oil prices keep inflation concerns alive, or markets continue to price in a more hawkish Federal Reserve rate path,” said Ulrike Hoffmann-Burchardi at UBS Chief Investment Office.
Employers in the US likely stepped up their pace of hiring in July, showing a steady appetite for workers despite the overhang of elevated inflation.
Economists estimate the monthly jobs report on Friday will show an 80,000 increase in payrolls after the lower-than-expected 57,000 gain in June.
“Friday’s jobs report is of greater importance for markets given how fast this stock market has rallied over the past week, and ultimately we will need to see a number that is not too hot and not too cold in order for the market to keep grinding higher,” said Clark Bellin at Bellwether Wealth.
Applications for unemployment benefits were little changed, remaining below 200,000 for a third straight week.
A separate report showed labor productivity accelerated at a faster-than- expected pace in the second quarter as employers sought to mitigate higher costs.
“The labor market is holding up well in the face of elevated interest rates and AI productivity gains,” Bellin noted.
“We are still seeing plenty of companies hold onto their labor force even as AI investments take hold.”
Corporate Highlights:
* Alphabet Inc. is set to raise $25 billion from a bond sale after generous yield payouts helped secure one of the year’s largest order books for AI-related debt.
* A highly anticipated new device from OpenAI will have a unique look, complete with moving parts that help give it personality, and likely cost more than $300, according to people familiar with the matter.
* Trump administration officials are considering a months-long delay in collecting planned tariffs on solar panels and other items containing polysilicon — a phase-in period that could encourage a rush of imports by renewable-energy companies working on US projects.
* Airbnb Inc. boosted its annual revenue forecast for a second time this year after it saw robust global travel demand, particularly in the US and Europe.
* Lyft Inc. posted second-quarter bookings that beat expectations, citing growing demand for premium rides and strength in the European business it acquired last year.
Some of the main moves in markets:
Stocks
* The S&P 500 fell 0.2% as of 4 p.m. New York time
* The Nasdaq 100 fell 0.4%
* The Dow Jones Industrial Average fell 0.9%
* The MSCI World Index fell 0.2%
Currencies
* The Bloomberg Dollar Spot Index rose 0.2%
* The euro fell 0.3% to $1.1524
* The British pound was little changed at $1.3455
* The Japanese yen fell 0.4% to 158.42 per dollar
Cryptocurrencies
* Bitcoin fell 0.5% to $64,476.46
* Ether fell 0.4% to $1,908.79
Bonds
* The yield on 10-year Treasuries advanced five basis points to 4.66%
* Germany’s 10-year yield advanced three basis points to 3.14%
* Britain’s 10-year yield advanced five basis points to 4.94%
Commodities
* West Texas Intermediate crude rose 3.3% to $77.73 a barrel
* Spot gold was little changed
Have a lovely evening.
Be magnificent!
As ever,
Carolann
We cannot change the cards we are dealt, just how we play the hand. –Randy Pausch, 1960-2008.
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