Category Events, Newsletters, Uncategorized]
Dear Friends,
Tangents: Happy Friday.
May 8, 1863: The International Committee of the Red Cross is founded, helping define modern humanitarian law and emergency relief.
May 8, 1886: Atlanta pharmacist John Styth Pemberton invented the flavor syrup for Coca-Cola. Go to article.
May 8, 1945: Victory Day in France.
VE Day, Europe
Helston Furry Dance, England.
🧠Researchers recently found that performing sit-ups can help your brain clean itself. It was discovered that abdominal muscle contractions can move the brain slightly inside the skull, helping push fluid and waste through it.
David Attenborough at 100
you’ve heard his voice narrate the wonders of Earth for decades. Now, David Attenborough is celebrating 100 years on the planet himself.
March Madness expansion
The NCAA said it will expand its two March Madness basketball tournaments by eight teams each next season, a move that will drop more games into the first week of the highly popular showcase.
Penguins are helping scientists track ‘forever chemicals’ in Patagonia
Researchers fitted Magellanic penguins with chemical-absorbing leg bands to gather data on ocean pollution.
Only those who will risk going too far can possibly find out how far one ca n go. -T.S. Eliot.
| Gold sword scabbard discovered under toppled tree in Norway was likely ‘sacrificed’ by an elite warrior 1,500 years ago |
A hiker poked into a hole in the ground and discovered a rare gold scabbard ornament from Norway’s Migration period. Read more.
| More doomed Franklin expedition sailors identified, revealing clues about how they tried to find safety |
DNA from living descendants of relatives have allowed four members of the ill-fated Franklin expedition to be identified. Read more.
| ‘Extremely rare’ English coins meant to ward off Vikings found in Denmark — because the Vikings wore them as jewelry |
Two rare coins minted in England to ward against Viking raids have been discovered in Denmark, where Vikings made them into jewelry. Read more.
| Happy 100th birthday, David Attenborough! 13 surprising facts about the famous naturalist |
As Sir David Attenborough turns 100, here are 13 surprising facts about the beloved broadcaster and environmental advocate whose voice has shaped how generations see the natural world. Read more.
| New AI model spots pancreatic cancer up to 3 years earlier than human doctors in test |
A new AI tool finds early hints of pancreatic cancer in CT scans that doctors would otherwise miss, an early test found. Read more.
| Watch NASA’s Curiosity rover ‘struggle’ to remove a rock that got stuck on its robotic arm for nearly a week |
New footage shows NASA’s Curiosity rover tilting, rotating and vibrating its robotic arm as mission scientists tried to remove a rock that became stuck on a drill for six days. Read more.
PHOTOS OF THE DAY
Moscow, Russia
People participate in the Victory Waltz patriotic flashmob in Moscow
Photograph: Natalia Kolesnikova/Anadolu/Getty
Louisville, US
Horses leave the starting gate during the 152nd running of the Kentucky Derby at Churchill Downs. Golden Tempo charged down the stretch to take the race, making Cherie DeVaux the first woman to train the winner of the opening leg of the Triple Crown
Photograph: Grace Hollars/Imagn/Reuters
Chengdu, China
Cars pass blooming bougainvillea flowers along viaducts
Photograph: China News Service/Getty Images
Market Closes for May 8th, 2026
| Market Index |
Close | Change |
| Dow Jones |
49609.16 | +12.19 |
| +0.02% | ||
| S&P 500 | 7398.93 | +61.82 |
| +0.84% | ||
| NASDAQ | 26247.08 | +440.88 |
| +1.71% | ||
| TSX | 34077.75 | +221.13 |
| +0.65% |
International Markets
| Market Index |
Close | Change |
| NIKKEI | 62713.65 | -120.19 |
| -0.19% | ||
| HANG SENG |
26393.71 | -232.57 |
| -0.87% | ||
| SEN SEX | 77328.19 | -516.33 |
| -0.66% | ||
| FTSE 100* | 10233.07 | -43.88 |
| -0.43% |
Bonds
| Bonds | % Yield | Previous % Yield |
| CND. 10 Year Bond |
3.472 | 3.524 |
| CND. 30 Year Bond |
3.850 | 3.894 |
| U.S. 10 Year Bond |
4.3541 | 4.3861 |
| U.S. 30 Year Bond |
4.9338 | 4.9606 |
| BOC Close | Today | Previous |
| Canadian $ | 0.7314 | 0.7319 |
| US $ |
1.3672 | 1.3663 |
| Euro Rate 1 Euro= |
Inverse | |
| Canadian $ | 0.6204 | 1.6118 |
| US $ |
0.8482 | 1.1789 |
Commodities
| Gold | Close | Previous |
| London Gold Fix |
4743.35 | 4706.90 |
| Oil | ||
| WTI Crude Future | 94.81 | 94.81 |
Market Commentary:
| On this day in 1886, at the soda fountain of Jacob’s Pharmacy in Atlanta, Dr. John S. Pemberton sold the first glass of Coca-Cola. Its original popularity might have stemmed in part from the fact that it contained trace amounts of real cocaine and an extract from the African kola nut, another stimulant. |
🍒Canada🍓
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose 0.7% at 34,077.76 in Toronto.
The index advanced to the highest closing level since April 20 after the previous session’s decrease of 0.4%.
Wheaton Precious Metals Corp. contributed the most to the index gain, increasing 5.7%.
B2Gold Corp. had the largest increase, rising 7.3%.
Today, 130 of 220 shares rose, while 88 fell; 4 of 11 sectors were higher, led by materials stocks.
Insights
* So far this week, the index rose 0.6%
* The index advanced 35% in the past 52 weeks. The MSCI AC Americas Index gained 31% in the same period
* The S&P/TSX Composite is 1.4% below its 52-week high on March 2, 2026 and 35.5% above its low on May 8, 2025
* S&P/TSX Composite is trading at a price-to-earnings ratio of 22.3 on a trailing basis and 16.5 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 rose to 13.54% compared with 13.48% in the previous session and the average of 16.42% over the past month
Index Points
Materials | 203.8756| 3.3| 51/9
Financials | 52.1086| 0.5| 14/10
Consumer Discretionary | 9.4193| 0.9| 6/3
Consumer Staples | 5.2997| 0.5| 7/3
Health Care | -0.0515| -0.1| 2/2
Utilities | -0.5729| 0.0| 7/7
Communication Services | -1.6303| -0.3| 3/2
Real Estate | -3.0056| -0.6| 10/9
Energy | -10.4253| -0.2| 13/23
Industrials | -15.2147| -0.4| 11/17
Information Technology | -18.6772| -0.8| 6/3
Wheaton Precious Metals | 32.7800| 5.7| -6.0| 17.7
Agnico Eagle Mines Ltd | 27.7900| 3.1| -34.5| 13.6
Barrick Mining | 21.7100| 3.2| 95.7| -1.2
WSP Global | -8.1760| -3.9| 22.7| -13.3
Celestica | -8.4820| -2.0| 0.3| 26.6
Shopify | -16.2300| -1.2| 23.8| -31.8
MT Newswires:
The resources heavy Toronto Stock Exchange was back up again Friday, especially buoyed by Base Metals, even with most other sectors lower and with the likes of BMO’s Douglas Porter warning about the health of the Canadian economy and seeing "few obvious grounds for optimism" on the trade front.
Today the TSX was up 221.14 points or 0.65% at 34,077.76, with Base Metals up near 3.2% and Energy up a modest 0.1%.
No sector declined by as much as 1%.
One of the big backdrops to the trading day was that Canada lost jobs in April while U.S. hiring beat forecasts.
This comes as the two nations near the resumption of stalled trade talks and as the vast majority of Canadians, eight out of 10, still believe boycotting American goods and travel to the U.S. is helpful in strengthening Canada’s bargaining position, according to a new survey by Nanos for CTV News.
BMO’s Douglas Porter in his regular weekly ‘Talking Points’ column said Canada has "sounded a series of flat notes" so far in 2026, adding the bottom line is the economy is "struggling to even get to first base" on the growth front.
Porter noted the Canadian economy lost 17,700 jobs last month, the third drop in four months.
"Discouragingly", he said, full-time positions have been especially weak, dragging hours worked down so far this year.
Porter added BMO would never overreact to any single jobs result, while noting the weakness does follow some surprising strength late last year, but the reality is that employment is up just 0.3% y/y.
And even with the big slowdown in underlying population, some slack appears to be building in the job market.
True, Porter said, the unemployment rate at 6.9% is back to precisely where it stood a year ago, but that is on the soft side — particularly for those aged 15-24, as the youth rate jumped to 14.3%.
Meantime, Porter noted, early readings on housing activity in April showed only "faintest hints of a thaw", with prices still drifting lower in a variety of major markets.
And he also noted, there is the reality that the deep uncertainty of the USMCA review lingers, with few obvious grounds for optimism on that front.
Porter added: "The ongoing uncertainty continues to weigh heavily across manufacturing, but especially so in the domestic auto sector.
This week brought news that the massive Honda investment in a new EV plant, heralded with much fanfare just two short years ago, has officially been put on ice.
While many were quick to blame waning EV demand, and not the trade war, it’s quite clear that the wall of U.S. auto tariffs played a role in the decision.
Unless and until the trade backdrop clears, we continue to assert that it seems quite misguided to be considering even one rate hike, let alone "consecutive" moves."
Of commodities, gold settled up 0.4% Friday, and silver rose 0.9%, with both metals up for a fourth-consecutive session and posting gains for the week, The Wall Street Journal reported.
But oil futures ended the week with losses as a U.S. proposal keeps hopes alive for an end to the war with Iran and eventual reopening of the Strait of Hormuz, The WSJ also reported. Price: 34077.76, Change: +221.14, Percent Change: +0.65
US
By Rita Nazareth
(Bloomberg) — Signs of labor-market strength drove stocks to all-time highs, bolstering speculation that the world’s largest economy remains resilient in the face of an energy shock triggered by the Iran war.
Bets that solid growth will keep powering earnings sent the S&P 500 to its sixth straight weekly advance.
A revival of the artificial-intelligence trade fueled an 11% jump in a gauge of chipmakers since last Friday.
Oil notched a slide for the week.
The US and Iran are working with mediators to formulate a memorandum of understanding that would set the parameters for a month of talks to end the war, the Wall Street Journal reported.
The US said it expects Iran to respond to its latest proposal to end their war imminently, as clashes in the Strait of Hormuz threatened to further fracture a monthlong ceasefire.
Tehran’s response is “under review,” Foreign Ministry Spokesman Esmail Baghaei told the semi-official Tasnim news agency.
While geopolitical developments remained the key driver for markets, investors kept a close eye on the latest economic data to assess the impacts of the war.
US employers added to payrolls for a second month in April, marking the first back-to-back advance in nearly a year.
The jobless rate held steady.
“The economy is so much better than what the doom crew has been saying,” said Chris Zaccarelli at Northlight Asset Management.
“There are a lot of headwinds – higher oil prices, sticky inflation and higher-for-longer interest rates – and yet the labor market is adding jobs.”
The solid payrolls report overshadowed data showing consumer sentiment fell in recent weeks to a fresh record low on concerns about the impact of inflation on personal finances and buying conditions.
For those who are scratching their heads about the market resilience amid all the uncertainties, Zaccarelli says the short answer is: Stock prices follow earnings and – at least for now – they’re growing too quickly for investors to ignore.
About 82% of the S&P 500’s companies have beaten first-quarter profit estimates, according to data compiled by Bloomberg.
“Bears continue to point to the narrowness of the rally, particularly in areas like semiconductors, but momentum — both in price action and earnings revisions — has remained the dominant force driving markets higher,” said Mark Hackett at Nationwide.
Even with signs of life in the labor market, the Federal Reserve is likely to remain on hold for now to allow the oil price spike to play itself out, according to Chris Kampitsis at Barnum Financial Group.
Money market pricing continued to suggest the Fed will keep rates steady this year.
“Strong data and inflation have likely put paid to any easing in the foreseeable future, though this could change depending on how energy prices and the situation in the Middle East develop,” said Lindsay Rosner at Goldman Sachs Asset Management.
Corporate Highlights:
* Intel Corp. rallied after the Wall Street Journal reported the company reached a preliminary deal with Apple Inc. to build some of the chips in its devices.
* Nvidia Corp. is investing as much as $2.1 billion in IREN Ltd. as part of a broader partnership aimed at accelerating the construction of AI infrastructure.
* Anthropic PBC has signed a $1.8 billion computing deal with cloud services provider Akamai Technologies Inc. to meet surging demand for its AI software, according to people familiar with the matter.
* Cerebras Systems Inc. is set to increase the price range of its initial public offering as soon as Monday, according to people familiar with the matter, as demand for the AI chipmaker’s shares continues to build.
* CoreWeave Inc.’s disappointing forecast sparked concerns about slowing growth at a time when the company is spending heavily to bolster operations.
What Bloomberg Strategists say…
“The latest US jobs numbers confirm that the big story is economic resilience in the face of rising energy prices.”
—Edward Harrison, Macro Strategist, Markets Live.
Some of the main moves in markets:
Stocks
* The S&P 500 rose 0.8% as of 4 p.m. New York time
* The Nasdaq 100 rose 2.3%
* The Dow Jones Industrial Average was little changed
* The MSCI World Index rose 0.4%
Currencies
* The Bloomberg Dollar Spot Index fell 0.2%
* The euro rose 0.5% to $1.1781
* The British pound rose 0.6% to $1.3632
* The Japanese yen rose 0.1% to 156.74 per dollar
Cryptocurrencies
* Bitcoin rose 0.4% to $80,153.88
* Ether rose 1.1% to $2,313.5
Bonds
* The yield on 10-year Treasuries declined two basis points to 4.36%
* Germany’s 10-year yield was little changed at 3.01%
* Britain’s 10-year yield declined four basis points to 4.91%
Commodities
* West Texas Intermediate crude fell 0.1% to $94.71 a barrel
* Spot gold rose 0.8% to $4,723.10 an ounce
Have a wonderful weekend everyone.
Be magnificent!
As ever,
Carolann
Yet in 1939 Churchill was a might-have-been: a powerless old man rapidly approaching seventy; a Cassandra who bored his listeners in spite (or perhaps because) of his impassioned rhetoric; a two-time loser who, however magnificent in opposition, had proven himself inadequate to the demands of office. I know that it is hard to believe today that even in 1940 Churchill was by no means the inevitable successor when the “Men of Munich” were swept out of office by the fall of France and the retreat at Dunkirk…The reality was the absence of leadership, the absence of affirmation, the absence of men of values and principle…What Churchill gave was precisely what Europe needed:
moral authority, belief in values, and faith in the rightness of rational action. —Peter Drucker, 1909-2005.
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