Dear Friends,
Tangents:
October 1, 1890: Yosemite National Park established.
October 1, 1949: The People’s Republic of China is established by Mao Zedong, marking the beginning of communist rule.
October 1, 1962: Johnny Carson takes over a s host of NBC’s Tonight Show, with Groucho Marx as his first guest.
October 1, 1908: Henry Ford introduced the Model T automobile to the market; each car cost $825. Go to article.
Vladimir Horowitz, pianist, b. 1903.
Jimmy Carter, 39th President, b.1924.
Julie Andrews, actress, b. 1935.
“President Trump just announced that he and all of the major tech leaders have signed an agreement to self-regulate A.I. So, don’t worry about A.I. — we’re fully protected
by the honor system.” — JIMMY FALLON
“Yep, tech leaders will regulate themselves. Yeah, anyone who’s ever put out a bowl of candy on Halloween was like, ‘Good luck with that.’” — JIMMY FALLON
“Look at this signature: Donald J. Trump, President of the ‘Unites States.’ Could there ever be a better metaphor for this presidency than misspelling ‘United States’
on a document about ‘super intelligence?’” — JIMMY KIMMEL
Here’s what’s happening at Paris Fashion Week
Paris Fashion Week is perhaps the most anticipated stop on the fashion calendar, with storied houses like Chanel, Celine, Dior and Louis Vuitton staging lavish productions to present their collections. See some of the week’s standout moments.
Welcome to ‘Doctober’: 12 documentaries that have the world buzzing
Documentaries are all the rage, tackling everything from disgraced Theranos founder Elizabeth Holmes to the horror in Gaza. Here’s a look at some of the buzziest ones.
Nothing endures but change. -Heraclitus.
A newly discovered exoplanet orbits its star backward, and it’s a mystery why. The system and others like it could shed light on how some complex planetary systems form.
Regular exercise reshapes the immune system at a cellular level, study suggests
Regular exercise makes our immune cells more vigilant, potentially contributing to better long-term health, a new study finds.
| Ancient hydrogen spotted in the early universe could open a new way to study space’s baffling expansion |
After seven years of work, Canada’s CHIME telescope has a measurement of dark energy from 2019. More detailed studies are planned to expand the research.
| Powerful ‘Kelvin wave’ triggered by super El Ni threatens to raise sea levels off the California coast for months |
A disturbance characterized by above-normal sea levels is spreading up the Pacific coast of Central and North America, and it could make the damage from predicted storms this winter much worse.
PHOTOS OF THE DAY
Seoul, South Korea
The Estonian slackliner Jaan Roose takes part in South Korea’s first urban highline crossing event, walking a 160-metre-long line suspended 120 metres above the ground
Photograph: Kim Hong-Ji/Reuters
Gull Island, Canada
Fireworks for the National Truth and Reconciliation Day burst over traditional Innu tents at the Innu Nation annual gathering in Labrador
Photograph: Greg Locke/Reuters
Puerto Madryn, Argentina
Seabirds perch on the carcass of a southern right whale
Photograph: Maxi Jonas/AP
Market Closes for October 1st, 2026
| Market Index |
Close | Change |
| Dow Jones |
50926.56 | +20.51 |
| +0.04% | ||
| S&P 500 | 7666.45 | +14.91 |
| +0.19% | ||
| NASDAQ | 26871.60 | +10.54 |
| +0.04% | ||
| TSX | 35154.76 | -81.11 |
| -0.23% |
International Markets
| Market Index |
Close | Change |
| NIKKEI | 68956.72 | +2203.00 |
| +3.30% | ||
| HANG SENG |
24613.27 | +89.70 |
| +0.37% | ||
| SEN SEX | 71909.70 | -570.59 |
| -0.79% | ||
| FTSE 100* | 10428.27 | -177.73 |
| -1.68% |
Bonds
| Bonds | % Yield | Previous % Yield |
| CND. 10 Year Bond |
3.932 | Market Closed |
| CND. 30 Year Bond |
4.274 | Market Closed |
| U.S. 10 Year Bond |
5.2407 | 5.2849 |
| U.S. 30 Year Bond |
5.6126 | 5.6286 |
| BOC Close | Today | Previous |
| Canadian $ | 0.7031 | 0.7026 |
| US $ |
1.4222 | 1.4231 |
| Euro Rate 1 Euro= |
Inverse | |
| Canadian $ | 0.6252 | 1.5992 |
| US $ |
0.8892 | 1.1245 |
Commodities
| Gold | Close | Previous |
| London Gold Fix |
4180.36 | 4157.63 |
| Oil | ||
| WTI Crude Future | 92.87 | 89.38 |
Market Commentary:
| On this day in 1982, Billy Joel’s “52nd Street” album was released on compact disc—the first album ever to appear on that cutting-edge technology. |
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite fell for the fourth day, dropping 0.2%, or 81.11 to 35,154.76 in Toronto.
The index dropped to the lowest closing level since July 20.
Royal Bank of Canada contributed the most to the index decline, decreasing 0.7%.
DPM Metals Inc. had the largest drop, falling 8.9%.
Today, 138 of 216 shares fell, while 76 rose; 8 of 11 sectors were lower, led by materials stocks.
Insights
* This year, the index rose 11%, heading for the best year since 2025
* So far this week, the index fell 1.8%
* The index advanced 17% in the past 52 weeks. The MSCI AC Americas Index gained 14% in the same period
* The S&P/TSX Composite is 5.2% below its 52-week high on Aug. 26, 2026 and 19% above its low on Nov. 7, 2025
* The S&P/TSX Composite is down 1.5% in the past 5 days and fell 1.9% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 20.5 on a trailing basis and 17 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$5.53t
* 30-day price volatility little changed to 12.13% compared with 12.12% in the previous session and the average of 11.52% over the past month
Index Points
Materials | -80.3915| -1.2| 8/52
Financials | -39.2388| -0.3| 8/15
Industrials | -31.9322| -0.9| 10/20
Consumer Discretionary | -6.4443| -0.6| 3/5
Communication Services | -6.3383| -1.2| 1/4
Consumer Staples | -5.9343| -0.6| 3/7
Real Estate | -1.2017| -0.3| 4/13
Health Care | -0.6378| -0.6| 2/3
Utilities | 3.4236| 0.3| 10/3
Information Technology | 41.3668| 1.4| 6/3
Energy | 46.2306| 0.8| 21/13
RBC | -20.2900| -0.7| 29.8| 18.7
Agnico Eagle Mines Ltd | -13.8700| -1.5| -30.4| 10.3
Canadian National | -10.3200| -1.6| -40.8| 22.8
Celestica | 14.2600| 3.1| -17.0| 30.8
Suncor | 14.7300| 1.9| -45.7| 61.3
Canadian Natural Resources | 16.3900| 1.7| -34.3| 46.4
MT Newswires:
The S&P/TSX Composite Index closed at the lowest level since late-July on Thursday, falling for a fourth straight session as losses in the industrial and telecom sectors outweighed gains in information technology and energy.
Investors assessed higher oil prices, fresh manufacturing data and the outlook for Canada-US trade.
The index closed lower 81.11 points, or 0.2%, at 35,154.76.
Industrials led decliners, down 0.9%, followed by base metals and telecom that closed down 0.8% and 0.7%, respectively.
Shares in information technology and energy closed up 2.0% and 1.4%, respectively.
The Battery Metals Index, which includes companies listed both on the TSX and TSX Venture Exchange, jumped 2%.
In commodities, West Texas Intermediate (WTI) and Brent crude rose on Thursday after China reportedly suspended fuel exports outside Hong Kong and Macau, adding to concerns about tight global supplies of refined products.
Oil prices were also supported by continued uncertainty around US-Iran talks.
November WTI crude oil contract settled up $2.45, or 2.7%, at $92.87 per barrel, while December Brent oil was last up $4.65, or 4.7%, at $102.68 per barrel.
On the other hand, December Comex gold futures jumped 0.5%, or $22.00, to $4,208.70 per ounce at last look.
In currencies, the US dollar turned down 0.04% against the Canadian dollar to 1.4227 at last look, after tapping a 1-1/2-year intraday high.
The Canadian dollar has come under pressure because the Federal Reserve’s rate hike fueled expectations of further rises, widening the US-Canada interest-rate differential, according to MUFG Global Markets Research.
MUFG now expects the BoC to hike rates, given the upside risks to inflation.
In economics news, Canada’s manufacturing sector grew for the second straight month in September, but momentum weakened as tariffs, softer demand and supply-chain disruptions weighed on activity, according to S&P Global in its Canada Manufacturing PMI release.
The seasonally adjusted S&P Global Canada Manufacturing PMI fell to 51.5 in September from 53.0, remaining above the 50.0 mark that separates expansion from contraction but registering its weakest reading since March, S&P Global wrote.
In stocks, Thomson Reuters (TRI.TO) closed up CA$3.06 at CA$141.54 after announcing a $500 million sale of a 51% stake in its Global Print business to global investment firm KKR.
The company retains a 49% equity stake in the joint venture.
US
By Rita Nazareth
(Bloomberg) — A rebound in Treasuries brought relief to Wall Street, spurring gains in stocks and overshadowing concerns about inflationary pressures stemming from elevated energy costs.
The respite in the bond selloff sent 10-year yields down from the highest since 2002.
The S&P 500 erased a drop that had been fueled by factory data showing a surge in a gauge of raw- material prices.
Oil climbed amid ongoing geopolitical risks.
The Pentagon may soon deploy an additional aircraft carrier and 10,000 troops to the Middle East, according to a US official.
An unwinding of crowded positions helped fuel the bounce in Treasuries, which also rose as France’s fiscal woes boosted haven demand.
Also underpinning gains were remarks from Federal Reserve Vice Chair Philip Jefferson, who said it may take more time to judge whether further interest-rate increases are needed.
He echoed comments from New York Fed President John Williams, who on Tuesday said there was no urgency in considering another hike after the Federal Open Market Committee’s decision to lift rates in September.
“We continue to think the Fed remains oriented towards a limited two or three hike mini-cycle in the base case,” said Krishna Guha at Evercore.
“It does not currently see demand so strong as to create obvious danger of demand-driven overheating risk.”
“We think Jefferson’s comments are consistent with our view that an October hike is now unlikely,” said Goldman Sachs Group Inc. economists led by Jan Hatzius.
“We continue to expect the second hike in December, and we see a strong chance that the FOMC will ultimately conclude that additional rate hikes are unnecessary.”
Also on Thursday, Fed Vice Chair for Supervision Michelle Bowman said the central bank needed more time to better understand the economy’s underlying trends.
Meantime, Fed Bank of Minneapolis President Neel Kashkari told Bloomberg Television he doesn’t know how high rates will have to go to cool prices, adding it’s the central bank’s job to tame inflation after five years of supply shocks.
In the run-up to key payrolls figures, data showed US companies announced the fewest number of job cuts for any September since 2022.
Weekly jobless claims edged down to the lowest level since July — indicating healthy labor-market conditions.
Economists estimate the jobs report due Friday will show nonfarm payrolls rose 90,000 after climbing in the prior month by the most since March.
The unemployment rate is seen remaining at a one-year low of 4.1%.
Corporate Highlights:
* Nike Inc. reported worse-than-expected results, with the company citing weakness in China as well as in sportswear and at the Jordan brand.
* Anthropic PBC is set to meet prospective investors on Oct. 14 in preparation for its initial public offering, according to people familiar with the matter, advancing its plan for a potential blockbuster listing even amid scrutiny over AI safety.
* Micron Technology Inc. gave an upbeat forecast for the current quarter, fueled by the AI building frenzy, though the chipmaker warned that rising compensation would weigh on profit margins.
* Amazon.com Inc. has agreed to purchase 690 megawatts of power from Constellation Energy Corp. in a deal that will help the biggest US nuclear operator boost capacity at the only reactors in Maryland.
* Accenture Plc, the technology consulting firm that’s under pressure to show it can help clients adopt AI and can undergo such a transition itself, reported that it booked more business in the fourth quarter than analysts had expected.
Some of the main moves in markets:
Stocks
* The S&P 500 rose 0.2% as of 4 p.m. New York time
* The Nasdaq 100 rose 0.3%
* The Dow Jones Industrial Average was little changed
* The MSCI World Index fell 0.2%
Currencies
* The Bloomberg Dollar Spot Index rose 0.4%
* The euro fell 0.8% to $1.1243
* The British pound fell 0.5% to $1.3199
* The Japanese yen fell 0.5% to 158.13 per dollar
Cryptocurrencies
* Bitcoin rose 1.4% to $84,822.01
* Ether rose 0.9% to $2,704.65
Bonds
* The yield on 10-year Treasuries declined five basis points to 5.24%
* Germany’s 10-year yield declined eight basis points to 3.51%
* Britain’s 10-year yield declined three basis points to 5.40%
* The yield on 2-year Treasuries declined 10 basis points to 4.78%
* The yield on 30-year Treasuries declined two basis points to 5.61%
Commodities
* West Texas Intermediate crude rose 2.9% to $93.08 a barrel
* Spot gold rose 0.5% to $4,177.35 an ounce
Have a lovely evening.
Be magnificent!
As ever,
Carolann
That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach. –Aldous Huxley, 1894-1963.
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