Dear Friends,
Tangents: Happy Friday.
October 2, 1925: John Logie Baird transmits the first true television picture in his London lab, then recruits office boy William Taynton to become the firs human face seen on TV.
October 2, 1950:”Peanuts” comic strip debuts.
October 2, 1968: Redwood National Park established.
October 2, 2000: The International Space Station got its first residents as an American astronaut and two Russian cosmonauts arrived aboard a Russian Soyuz capsule for a four-month stay. Go to article.
Mahatma Gandhi, Indian Leader, b.1869.
Groucho Marx, comedian, b. 1890.
Graham Greene, writer, b. 1890.
Sting, musician, b. 1951.
October 2, 1945: Sixth Avenue is formally named Avenue of the Americas by Mayor LaGuardia.
Ed Headrick, who designed the modern Frisbee, asked for his ashes to be molded into a batch of memorial flying discs.
| Physicists unveil the most accurate atomic clock ever — and it could literally redefine the second |
Physicists have used radioactive lutetium to create what they say is the most accurate atomic clock ever, keeping time perfectly up to 19 decimal places.
| Adversity shaped our evolution as a species. People raised in it may have underrecognized strengths because of it. |
Psychologists have long studied the deficits associated with being raised in adversity. They’re now discovering the hidden strengths that can emerge in those settings.
He that commands the sea is at great liberty. -Sir Francis Bacon.
| ‘It’s a portrait of their actual ancestor’: Facial reconstruction of Indigenous man who lived in Ecuador 3,000 years ago shared with his descendants |
You can now see a facial reconstruction — and the particular hairstyle — of a man who lived more than 3,000 years ago in what is now Ecuador.
Campaign ads get an AI assist
See how AI is being used in campaign ads, often without any disclosure.
| Your voice may reveal how fast you’re aging, new AI ‘speech clock’ suggests |
A new machine-learning "speech clock" estimates a person’s chronological age from their speech, drawing links between older-sounding speech and cognitive decline.
| ‘A kind of Rosetta Stone’: AI decodes 217-year-old secret letter ordered by Napoleon |
GPT-6 Astra has been used to solve a centuries-old cipher used to convey strategic military information between Napoleon’s troops.
| ‘This is what happened with Claude and me’: AI’s failed attempt to crack the Riemann hypothesis led mathematician to a breakthrough |
An attempt by Anthropic’s Claude failed to prove the Riemann hypothesis, but it did produce something genuinely useful: inspiration.
PHOTOS OF THE DAY
London, UK
A stag in the mist during the annual rutting season in Richmond Park. The national nature reserve is home to more than 630 red and fallow deer
Photograph: Brook Mitchell/Getty Images
Llanrwst, UK
A Virginia creeper (Parthenocissus quinquefolia) is a blaze of autumnal colours at the Tu Hwnt l’r Bont tea rooms
Photograph: Peter Byrne/PA
Lelystad, Netherlands
A replica of the Batavia, an early 17th-century Dutch merchant ship, is transported to its new home on the grounds of Museum Batavialand. The original vessel was shipwrecked off what eventually became known as Western Australia in 1629
Photograph: ANP/Shutterstock
Market Closes for October 2nd, 2026
| Market Index |
Close | Change |
| Dow Jones |
51176.96 | +250.40 |
| +0.49% | ||
| S&P 500 | 7722.72 | +56.27 |
| +0.73% | ||
| NASDAQ | 27190.86 | +319.26 |
| +1.19% | ||
| TSX | 35502.65 | +347.89 |
| +0.99% |
International Markets
| Market Index |
Close | Change |
| NIKKEI | 68309.46 | -647.26 |
| -0.94% | ||
| HANG SENG |
23972.29 | -640.98 |
| -2.60% | ||
| SEN SEX | 71909.70 | -570.59 |
| -0.79% | ||
| FTSE 100* | 10461.95 | +33.68 |
| +0.32% |
Bonds
| Bonds | % Yield | Previous % Yield |
| CND. 10 Year Bond |
3.942 | 3.932 |
| CND. 30 Year Bond |
4.288 | 4.274 |
| U.S. 10 Year Bond |
5.2706 | 5.2407 |
| U.S. 30 Year Bond |
5.6195 | 5.6126 |
| BOC Close | Today | Previous |
| Canadian $ | 0.7020 | 0.7031 |
| US $ |
1.4244 | 1.4222 |
| Euro Rate 1 Euro= |
Inverse | |
| Canadian $ | 0.6236 | 1.6035 |
| US $ |
0.8883 | 1.1256 |
Commodities
| Gold | Close | Previous |
| London Gold Fix |
4141.19 | 4180.36 |
| Oil | ||
| WTI Crude Future | 91.11 | 92.87 |
Market Commentary:
On this day in 1965, a new sports drink was tested during a football game between the University of Florida Gators and Louisiana State University Tigers. Florida’s players held up better in the hot and humid conditions and won in an upset. The drink was nicknamed “Gatorade.”
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose 1% at 35,502.65 in Toronto.
The move was the biggest since rising 1.1% on Sept. 17 and follows the previous session’s decrease of 0.2%.
Shopify Inc. contributed the most to the index gain, increasing 1.8%.
Trekor Metals Ltd. had the largest increase, rising 7.3%.
Today, 157 of 216 shares rose, while 58 fell; 7 of 11 sectors were higher, led by materials stocks.
Insights
* This year, the index rose 12%, heading for the best year since 2025
* So far this week, the index fell 0.8%
* The index advanced 18% in the past 52 weeks. The MSCI AC Americas Index gained 15% in the same period
* The S&P/TSX Composite is 4.2% below its 52-week high on Aug. 26, 2026 and 20.2% above its low on Nov. 7, 2025
* S&P/TSX Composite is trading at a price-to-earnings ratio of 20.7 on a trailing basis and 17.2 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$5.51t
* 30-day price volatility rose to 12.33% compared with 12.13% in the previous session and the average of 11.59% over the past month
Index Points
Materials | 114.2679| 1.8| 48/12
Financials | 71.7210| 0.6| 18/5
Energy | 54.2332| 0.9| 31/5
Industrials | 52.5769| 1.5| 25/5
Information Technology | 50.4917| 1.6| 5/4
Utilities | 8.2561| 0.7| 10/3
Consumer Discretionary | 3.9075| 0.4| 7/1
Real Estate | -1.5303| -0.4| 5/12
Consumer Staples | -1.6241| -0.2| 4/5
Health Care | -1.9645| -1.7| 2/3
Communication Services | -2.4496| -0.5| 2/3
Shopify | 31.9700| 1.8| 13.5| -2.3
Agnico Eagle Mines Ltd | 19.5800| 2.1| -15.5| 12.6
Celestica | 18.3300| 3.9| -22.4| 35.9
Bombardier | -2.1990| -1.2| -16.7| 32.3
DPM Metals | -2.6990| -3.1| 167.4| 30.6
Enbridge | -3.5960| -0.4| 1.8| -0.2
MT Newswires:
The S&P/TSX Composite Index jumped on Friday as gains in base metals, industrials and energy outweighed losses in healthcare and telecom, while investors assessed mixed oil prices and fresh Canadian auto-sales and housing data.
The index closed up 347.89 points, or 1%, at 35,502.65.
Base metals led advancers, up 3%, followed by industrials and energy that closed up 1.5% and 1.4%, respectively.
Shares in healthcare and telecom closed down 1.8% and 0.4%, respectively.
In commodities, West Texas Intermediate (WTI) and Brent crude were mixed as plans by European countries and other G7 members to release diesel and crude reserves eased some supply concerns.
However, oil markets stayed volatile as tight refined-product supplies, China’s suspension of fuel exports and continued US-Iran tensions kept geopolitical and supply risks elevated.
November WTI crude oil contract settled down $1.76, or 1.9%, at $91.11 per barrel, while December Brent oil was last up $0.75, or 0.5%, at $102.86 per barrel.
In precious metals, December Comex gold futures dropped 0.8%, or $31.50, to $4,170.80 per ounce at last look.
The US dollar edged up 0.2% against the Canadian dollar to 1.4252 at last look, near an 18-month high.
Canadian Pacific Kansas City (CP.TO) said it moved a record 2.94 million metric tons and 30,324 carloads of grain and grain products in Canada in September.
On the domestic data front, Canadian auto sales rose 3.4% year-over-year in September, marking the fourth straight monthly rise despite US-Canada tensions, an extended Middle East crisis, and tariffs, said DesRosiers Automotive Consultants in a note on Friday.
In banking, Bank of Nova Scotia (BNS.TO) said it plans to repurchase as many as 40 million shares, sharply increasing the amount from the previous 15 million in an amended normal course issuer bid.
The increase received approval from the Toronto Stock Exchange and the Office of the Superintendent of Financial Institutions, the bank said on Friday.
Looking to regional housing, Calgary’s residential benchmark price fell 0.8% annually to CA$566,700 in September, while sales declined 3.9% over the same period to 1,650 units, according to Calgary Real Estate Board (CREB).
New listings fell 11.3% year-over-year to 3,354 in September, while total inventory declined 6.3% to 6,486 homes, noted CREB.
US
By Rita Nazareth
(Bloomberg) — A slowdown in the US jobs market drove stocks higher on speculation the Federal Reserve won’t be forced to lift rates any time soon.
Those bets fueled the appetite for riskier corners of the market, with the S&P 500 up 0.7%.
The Nasdaq 100 rose to a record.
While bonds erased earlier gains, money markets see a less than 25% chance of an October Fed hike.
A drop in fuel prices also helped sentiment as the Group of Seven nations signaled, they would release emergency supplies of diesel and crude.
The US added fewer jobs than expected in September and wage growth slowed, signaling some caution among employers amid rising costs.
Nonfarm payrolls increased 29,000 last month after a downward revision to the prior two months.
That missed all estimates in a Bloomberg survey of economists.
The unemployment rate rose to 4.2%, partly reflecting a growing workforce.
“A softer-than-expected jobs report should put an October Fed hike firmly on the back foot,” said Seema Shah at Principal Asset Management.
“Weaker payrolls, softer wage growth and a higher unemployment rate all point to a labor market that’s cooling rather than reaccelerating.”
Friday’s data may revive the “bad news is good news” narrative, but hoping for a weaker labor market to secure easier financial conditions is a poor tradeoff, according to Bret Kenwell at eToro.
Inflation remains a problem, but a breakdown in jobs would create an entirely different one, he noted.
The report came on the heels of a months-long rout in Treasuries driven by worries about persistent inflation, government spending and surging corporate borrowing to finance the artificial-intelligence buildout.
Benchmark 10-year yields this week hit their highest level since 2002.
“Going forward, 5% on the 10-year Treasury is the level to watch,” Kenwell said.
“If that becomes the new floor, it could challenge the idea that markets can continue to absorb higher rates without consequences.”
At Edward Jones, Angelo Kourkafas said the latest jobs data pointed to a labor market that’s cooling but remains fundamentally healthy and is not showing signs of generating significant inflationary pressures.
“While higher rates and geopolitical uncertainty may continue to weigh on valuations and contribute to periods of volatility, a still-expanding economy and robust earnings growth should help provide a solid foundation for stocks through the remainder of the year,” he added.
Corporate Highlights:
* A software glitch affecting Boeing Co. 737 Max aircraft was determined not to pose a safety risk by a Federal Aviation Administration panel, a positive outcome for the US plane maker seeking regulatory approval for the largest variant of the popular narrowbody f amily.
* Tesla Inc. reported better-than-expected sales for the third quarter, a sign of stability for the company’s core business at a challenging moment for the electric vehicle market.
* Broadcom Inc.’s Wall Street syndicate is starting to gather $60 billion of fresh AI chip financing to benefit Anthropic PBC and other companies, according to people with knowledge of the matter.
* Western Digital Corp. and Seagate Technology Holdings Plc sank after Nikkei reported that Toshiba would invest about 60 billion yen to double its production capacity for hard disk drives.
* Nike Inc. is cutting jobs and embarking on a sweeping overhaul of the business as results deteriorate and test Wall Street’s patience with Chief Executive Officer Elliott Hill.
Some of the main moves in markets:
Stocks
* The S&P 500 rose 0.7% as of 4 p.m. New York time
* The Nasdaq 100 rose 1%
* The Dow Jones Industrial Average rose 0.5%
* The MSCI World Index rose 0.6%
Currencies
* The Bloomberg Dollar Spot Index fell 0.2%
* The euro rose 0.1% to $1.1257
* The British pound rose 0.4% to $1.3246
* The Japanese yen rose 0.2% to 157.82 per dollar
Cryptocurrencies
* Bitcoin fell 0.2% to $84,398.42
* Ether fell 1.1% to $2,668.3
Bonds
* The yield on 10-year Treasuries advanced four basis points to 5.28%
* Germany’s 10-year yield declined five basis points to 3.46%
* Britain’s 10-year yield declined three basis points to 5.37%
Commodities
* West Texas Intermediate crude fell 1.5% to $91.48 a barrel
* Spot gold fell 0.8% to $4,144.17 an ounce
Have a wonderful weekend everyone.
Be magnificent!
As ever,
Carolann
Be the change you wish to see in the world.-Mahatma Gandhi, 1869-1948.
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