Dear Friends,
Tangents: Happy Monday.
September 14, 2000: Chase Manhattan agreed to buy J.P. Morgan for more than $35 billion, creating the third largest financial company in the U.S. Go to article.
September 14, 2015: Scientists at LIGO make the first direct detection of gravitational waves, confirming ripples in spacetime caused by two colliding black holes.
Dante Alleghieri, poet, d.1321
Oliver Stone, director, b.1946.
Tommy Lee Jones, actor, b. 1946.
Video: This man faked an NFL career for an elaborate scam
The FBI arrested a man who allegedly posed as a San Francisco 49ers player and scammed more than two dozen women out of $1.3 million.
New dinosaurs are popping up in Africa
Researchers in Zimbabwe waded through hippo- and crocodile-filled waters to uncover the scattered bones of a new dinosaur.
| Tiger Woods to appear in court today
The golf champion is scheduled to appear in court for a change of plea in his DUI case. |
Pressure is a privilege. -Billie Jean King.
| ‘There are no easy answers here’: New study forecasts a dire dip in food production if key Atlantic currents collapse |
Researchers have examined how weakening currents in the Atlantic Ocean could impact global agriculture — and the results are concerning.
| ‘Oddly shaped rock’ unearthed in California turns out to be ‘immaculate’ mastodon molar |
A field survey in San Mateo County, California, has revealed the fossilized tooth of an adult Pacific mastodon, an ice-age giant that was probably native to the West Coast.
| Microscopic fragments of ancient alien tech may litter the moon — and scientists have a plan to find them |
Researchers propose that tiny technological remnants left over from extinct alien civilizations could have landed on the moon after traveling through interstellar space. It may not take long to find them, the team claims.
| Fall stargazing 2026: The best skywatching sights in autumn (and how to see them) |
As longer nights draw in over the fall, we see the return of some stargazing favorites, including the Andromeda Galaxy, the Pleiades star cluster and the first supermoon of the season.
| AI trained to ‘think’ like human pathologists may be better at spotting cancer |
Researchers trained AI on how expert pathologists look for signs of cancer in patient samples, improving the algorithm’s effectiveness.
PHOTOS FOR THE DAY
South Carolina, US
A young child plays in the sand as a storm passes off shore in Isle of Palms
Photograph: Richard Ellis/Zuma Press Wire/Shutterstock
Scheveningen, the Netherlands
Members of the cavalry honorary escort practise on the beach before Prinsjesdag (Prince’s Day), when the monarch travels to deliver the speech from the throne in The Hague
Photograph: ANP/Shutterstock
Mumbai, India
Devotees put an idol of the Hindu deity Ganesha on to the back of a truck during the Ganesh Chaturthi festival
Photograph: Punit Paranjpe/AFP/Getty Images
Market Closes for September 14th, 2026
| Market Index |
Close | Change |
| Dow Jones |
52421.20 | -152.09 |
| -0.29% | ||
| S&P 500 | 7619.98 | -37.00 |
| -0.48% | ||
| NASDAQ | 26186.41 | -146.63 |
| -0.56% | ||
| TSX | 35702.53 | +5.04
+0.01% |
International Markets
| Market Index |
Close | Change |
| NIKKEI | 63492.99 | -518.35 |
| -0.81% | ||
| HANG SENG |
24917.60 | +111.97 |
| +0.45% | ||
| SEN SEX | 74781.76 | -120.83 |
| -0.16% | ||
| FTSE 100* | 10697.57 | +47.13 |
| +0.44% |
Bonds
| Bonds | % Yield | Previous % Yield |
| CND. 10 Year Bond |
3.961 | 3.939 |
| CND. 30 Year Bond |
4.295 | 4.272 |
| U.S. 10 Year Bond |
4.9875 | 4.9669 |
| U.S. 30 Year Bond |
5.3446 | 5.3522 |
| BOC Close | Today | Previous |
| Canadian $ | 0.7194 | 0.7210 |
| US $ |
1.3899 | 1.3867 |
| Euro Rate 1 Euro= |
Inverse | |
| Canadian $ | 0.6228 | 1.6055 |
| US $ |
0.8657 | 1.1551 |
Commodities
| Gold | Close | Previous |
| London Gold Fix |
4294.23 | 4349.07 |
| Oil | ||
| WTI Crude Future | 101.39 | 100.05 |
Market Commentary:
On this day in 2007, the first British bank run since the Victorian era began as long lines formed outside branches of Northern Rock. The previous evening, the BBC had reported the lender had secured emergency funding from the Bank of England. Northern Rock was later nationalized by the U.K. government.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite advanced slightly to 35,702.53 in Toronto.
Today, information technology stocks led the market higher, as 9 of 11 sectors gained; 105 of 215 shares rose, while 108 fell.
Shopify Inc. contributed the most to the index gain, increasing 4.4%.
Thomson Reuters Corp. had the largest increase, rising 8.9%.
Insights
* This year, the index rose 13%, heading for the best year since 2025
* This quarter, the index rose 2.4%
* The index advanced 22% in the past 52 weeks. The MSCI AC Americas Index gained 16% in the same period
* The S&P/TSX Composite is 3.7% below its 52-week high on Aug. 26, 2026 and 22.3% above its low on Sept. 17, 2025
* The S&P/TSX Composite is down 2.2% in the past 5 days and fell 2.8% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 20.9 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$5.6t
* 30-day price volatility fell to 11.74% compared with 12.00% in the previous session and the average of 10.93% over the past month
Index Points
Information Technology| 62.6652| 2.3| 8/1
Industrials | 33.9362| 0.9| 20/10
Consumer Staples | 24.5467| 2.3| 9/1
Energy | 22.2973| 0.4| 22/12
Financials | 9.6533| 0.1| 9/14
Communication Services| 6.4115| 1.1| 5/0
Consumer Discretionary| 6.0103| 0.6| 4/4
Health Care | 1.9687| 1.8| 5/0
Real Estate | 1.0692| 0.2| 13/4
Utilities | -6.9691| -0.6| 6/7
Materials | -156.5493| -2.3| 4/55
Shopify | 66.6300| 4.4| -24.2| -15.8
Constellation Software | 18.4700| 4.7| -5.5| -10.3
Enbridge | 12.2800| 1.2| 14.2| 2.1
Wheaton Precious Metals | -18.0000| -2.6| -43.1| 29.0
Barrick Mining | -18.4900| -2.6| 4.7| -1.4
Celestica | -35.5200| -8.4| 7.2| 8.3
(MT Newswires)
The S&P/TSX Composite Index edged higher on Monday as gains in healthcare, telecom and industrial stocks offset weakness in base metals, while investors assessed steady Canadian inflation and rising oil prices amid escalating Middle East tensions.
The index closed up a slight 5.04 points, or 0.01%, at 35,702.53.
Healthcare led advancers, up 2.0%, followed by the telecom and industrial sectors that closed up 1.3% and 1.0%, respectively.
Shares in base metals and utilities closed down 2.5% and 0.6%, respectively.
In commodities, West Texas Intermediate (WTI) and Brent crude rose as escalating fighting in the Middle East and the shutdown of Saudi Arabia’s key East-West oil pipeline heightened concerns about global supplies.
October WTI crude oil contract settled up $1.34, or 1.3%, at $101.39 per barrel, while November Brent oil was last seen up $1.52, or 1.5%, at $106.13 per barrel.
Meanwhile, December Comex gold futures dropped 1.8%, or $77.90, to $4,331.00 per ounce at last look.
In currencies, the US dollar edged up 0.2% against the Canadian dollar, to CA$1.3902 at last look.
In economic news, Canada’s consumer price index held at 3% annualized in August, unchanged from July, while it declined 0.1% monthly on a non-seasonally adjusted basis, Statistics Canada said Monday.
Slower gasoline price growth offered some relief, with prices up 22.8% annually in August versus 25.7% in July, Statistics Canada wrote in a statement.
Excluding gasoline, however, CPI inflation accelerated to 2.4% annually from 2.2%.
In the banking sector, the Toronto-Dominion Bank (TD.TO) plans to allot CA$150 billion over the next five years to drive new lending, underwriting, advisory and other financing activities linked to boosting Canada’s economy.
In a similar move, Scotiabank (BNS.TO) launched the Scotia Growth Institute, which it said will help advance long-term economic growth and competitiveness in Canada and across North America.
Scotiabank also committed over CA$100 billion in financing, underwriting, and investment to be available over the next five years, to support Canadian companies and projects in key sectors, it said Monday.
To boost the agricultural economy, the Canadian government launched the CA$1billion Agri-food Project Finance Fund to address financing gaps, support food-sector infrastructure and technology, and expand domestic processing capacity.
In corporate news, Enbridge (ENB.TO) said it raised CA$3 billion in its offering of 44.7 million shares.
Proceeds will be used to partially fund acquisitions, and may also be used to pay down debt, a statement added.
US
By Rita Nazareth
(Bloomberg) — A selloff in chipmakers dragged down stocks as leaders of artificial-intelligence giants proposed slowing the technology’s development, with elevated oil prices also weighing on sentiment.
The rout in powerhouses like Nvidia Corp. and Broadcom Inc. sent a semiconductor gauge down by 5.9%.
The Nasdaq 100 fell 0.8%.
Bank of America Corp. led losses in financial shares on chief Brian Moynihan’s trading revenue warning.
Brent crude topped $105, raising concern about inflation before the Federal Reserve decision.
Treasury 10-year yields hovered near 5%.
A 3,800-word missive by Anthropic PBC Chief Executive Officer Dario Amodei — which was endorsed by OpenAI CEO Sam Altman and SpaceXAI CEO Elon Musk — said development of the most-advanced systems must be slowed in order to prevent AI slipping beyond human control and inflicting catastrophic harm.
Microsoft Corp.’s AI researchers have released a new set of guiding tenets that place limits on the company’s development of cutting-edge AI models.
The 15,000-word manifesto boils down to five words: People matter more than AI.
President Donald Trump attacked Anthropic’s chief for urging a slowdown in AI development, intensifying his opposition to new guardrails.
He blamed a “SICK conspiracy” for voter backlash on AI data centers and increased concern about frontier models and added that “the only one that is happy about it is China.”
If the latest developments push out the timing of promised AI returns, it makes sense that investors would become less enthusiastic, according to Matt Maley at Miller Tabak.
Are We Losing Control of AI? What’s Driving Fears: Explainer “What really happened? Surely something big enough to spook Dario, Sam, and Elon into rare agreement,” said Giuseppe Sette at Reflexivity.
“Whatever it was, it was probably stopped at the last minute, just before disaster struck.
With China in the race, though, we don’t expect any major slowdown.”
As for any retracement in AI stocks, Sette noted that’s simply a buying opportunity.
“Concerns on AI deployment could be a sentiment negative for the AI value chain,” said Justin Post and Nitin Bansal at Bank of America Corp.
“Despite potential concerns, we continue to believe AI capacity will have strong multi-year demand.”
At HSBC, Max Kettner says calls for a slower AI buildout and resulting fears for the tech sector are “overblown.”
This could actually help profitability of AI companies eventually, he said.
“Whether calls to pace advanced model development will gain traction across the industry remains uncertain, but we believe they are more aimed at shaping a regulatory framework acceptable to leading AI labs,” said Ulrike Hoffmann-Burchardi at UBS Chief
Investment Office. “We therefore expect AI investment to continue.”
Corporate Highlights:
* Bank of America Corp. Chief Executive Officer Brian Moynihan said trading revenue will be “relatively flat” compared with last year’s third quarter, a break from the surge that Wall Street saw in the first half.
* Elon Musk’s xAI and X Corp. said they resolved an antitrust lawsuit against Apple Inc. that accused the iPhone maker of favoring OpenAI’s ChatGPT over other chatbot makers.
* SpaceX is set to get a larger weighting in the Nasdaq 100 later this month, a change that could trigger billions of dollars of buying by passive funds tied to the benchmark.
* Anthropic PBC is pitching financial advisers on a version of Claude that blends the chatbot with financial analytics and risk management technology run by BlackRock Inc., Vanguard Group Inc. and other firms.
* OpenAI won’t go public in this year as the AI company focuses on addressing safety-related concerns around the technology, Chief Executive Officer Sam Altman told Fortune in an interview.
What Bloomberg strategists say…
“Resilient economic growth and rock-solid corporate profits can cushion the impact from higher rates and valuation compression, but with that foundation now in question, the effect of tighter financial conditions on stocks will be more severe.”
—Tatiana Darie, Macro Strategist, Markets Live.
Some of the main moves in markets:
Stocks
* The S&P 500 fell 0.5% as of 4 p.m. New York time
* The Nasdaq 100 fell 0.8%
* The Dow Jones Industrial Average fell 0.3%
* The MSCI World Index fell 0.5%
Currencies
* The Bloomberg Dollar Spot Index rose 0.4%
* The euro fell 0.5% to $1.1545
* The British pound fell 0.2% to $1.3497
* The Japanese yen fell 0.5% to 154.41 per dollar
Cryptocurrencies
* Bitcoin rose 2.2% to $79,034.54
* Ether rose 1.3% to $2,544.25
Bonds
* The yield on 10-year Treasuries advanced two basis points to 4.99%
* Germany’s 10-year yield advanced one basis point to 3.52%
* Britain’s 10-year yield advanced two basis points to 5.37%
Commodities
* West Texas Intermediate crude rose 1.7% to $101.75 a barrel
* Spot gold fell 1.4% to $4,286.19 an ounce
Have a wonderful day.
Be magnificent!
As ever,
Carolann
To put the world right in order, we must first put the nation in order; to put the nation in order, we must first put the family in order; to put the family in order, we must first cultivate our personal life; we must first set our hearts right. -Confucius, 551 BCE-479 BCE.
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