Dear Friends,
Tangents:
September 1, 1715: King Louis XIV dies at Versailles Palace.
September 1, 1939: Germany invades Poland, marking the beginning of World War II. Go to article
Lily Tomlin, comic actress, b. 1939.
Gloria Estevan, singer, b. 1957.
| Scientists build tiny robots without motors that can fly using sound waves alone |
A century-old trick for tuning musical instruments has been repurposed to power robots that fly, float and steer themselves using nothing but sound waves.
| How many cosmic particles are passing through your body at any moment? |
While Earth’s atmosphere protects us from harmful cosmic rays, other cosmic particles are passing through us every second.
| Planting crops in fields of solar panels is more efficient, protects the plants and helps keep workers cool, study finds |
A new model simulates the benefits of agrivoltaic farming, in which solar panels and crops share the same land.
The way I see it, if you want the rainbow, you gotta put up with the rain. -Dolly Rebecca Parton.
Video: A tree stump mystery in Washington, DC
A stump in East Potomac Park has left some Washingtonians confused and upset. CNN’s Sunlen Serfaty explains the ordeal in this video.
Hobby shops are having a moment
Young people are embracing “grandma hobbies” and flocking to in-person events as AI encroaches on more aspects of everyday life.
‘Grey Beard’: 91-year-old man becomes oldest hiker to complete the Appalachian Trail
Dale Sanders says he thanks God and “trail angels” for helping him complete the famed thru-hike. The previous record holder was 83.
Japan is using AI, drones and wolf robots to keep bears at bay
Read more on Japan’s high-tech plan to tackle rising bear attacks.
Video: How astronauts cook in space
What happens when you chop onions in zero gravity? Watch NASA astronauts take on the tricky task.
PHOTOS OF THE DAY
Weihai, China
Boats head toward fishing grounds off east China’s Shandong province. The new fishing season in the Yellow Sea and Bohai Sea started on Tuesday after a four-month summer fishing moratorium
Photograph: Xinhua/Shutterstock
Arendal, Norway
Reagan Popoff from the US competes during the ds diving world championship in Arendal
Photograph: Tor Erik Schrer/EPA
Tokyo, Japan
Performers at the 67th Koenji Awa Odori festival, a summer dance tradition welcoming ancestral spirits home
Photograph: Yasuyoshi Chiba/Getty
Market Closes for September 1st, 2026
| Market Index |
Close | Change |
| Dow Jones |
52766.88 | -419.02 |
| -0.79% | ||
| S&P 500 | 7631.47 | -54.67 |
| -0.71% | ||
| NASDAQ | 26099.77 | -271.12 |
| -1.03% | ||
| TSX | 35825.73 | -444.75
-1.23% |
International Markets
| Market Index |
Close | Change |
| NIKKEI | 66215.34 | -96.59 |
| -0.15% | ||
| HANG SENG |
25329.73 | -237.26 |
| -0.93% | ||
| SEN SEX | 76944.28 | -12.99 |
| -0.02% | ||
| FTSE 100* | 10789.28 | -34.98 |
| -0.32% |
Bonds
| Bonds | % Yield | Previous % Yield |
| CND. 10 Year Bond |
3.748 | 3.738 |
| CND. 30 Year Bond |
4.148 | 4.144 |
| U.S. 10 Year Bond |
4.7981 | 4.7500 |
| U.S. 30 Year Bond |
5.2703 | 5.2423 |
| BOC Close | Today | Previous |
| Canadian $ | 0.7196 | 0.7216 |
| US $ |
1.3895 | 1.3857 |
| Euro Rate 1 Euro= |
Inverse | |
| Canadian $ | 0.6208 | 1.6108 |
| US $ |
0.8626 | 1.1592 |
Commodities
| Gold | Close | Previous |
| London Gold Fix |
4328.83 | 4445.91 |
| Oil | ||
| WTI Crude Future | 90.22 | 85.76 |
Market Commentary:
| On this day in 1862, the San Francisco Stock and Exchange Board was founded by 37 brokers to organize trading in silver and gold mining stocks—primarily based at the booming Comstock Lode in Virginia City, Nev. |
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite fell for the third day, dropping 1.2%, or 444.75 to 35,825.73 in Toronto.
The move was the biggest since falling 2.3% on June 5.
Today, materials stocks led the market lower, as 9 of 11 sectors lost; 156 of 217 shares fell, while 59 rose.
Shopify Inc. contributed the most to the index decline, decreasing 4.7%.
Montage Gold Corp. had the largest drop falling 8.5%.
Insights
* In the past year, the index had a similar or greater loss 17 times. The next day, it advanced 14 times for an average 0.8% and declined three times for an average 1.1%
* This year, the index rose 13%, heading for the best year since 2025
* This quarter, the index rose 2.8%
* The index advanced 25% in the past 52 weeks. The MSCI AC Americas Index gained 18% in the same period
* The S&P/TSX Composite is 3.4% below its 52-week high on Aug. 26, 2026 and 26.3% above its low on Sept. 2, 2025
* The S&P/TSX Composite is down 3.1% in the past 5 days and rose 1.7% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 21 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$5.72t
* 30-day price volatility rose to 10.88% compared with 10.63% in the previous session and the average of 10.52% over the past month
Index Points
Materials | -250.2360| -3.6| 2/57
Information Technology| -109.9272| -3.8| 1/8
Industrials | -89.5167| -2.5| 2/28
Financials | -88.9519| -0.7| 6/17
Consumer Discretionary| -9.9480| -0.9| 3/5
Utilities | -8.0547| -0.7| 3/10
Real Estate | -3.6806| -0.8| 0/16
Communication Services| -2.2576| -0.4| 2/3
Health Care | -0.6092| -0.6| 2/3
Consumer Staples | 12.2587| 1.1| 7/3
Energy | 106.1695| 1.7| 31/6
Shopify | -82.4200| -4.7| -2.6| -11.9
Canadian Pacific Kansas | -29.7100| -3.7| 1.3| 22.3
Brookfield Corp | -27.9700| -3.3| 34.7| -12.4
Cenovus | 14.8400| 3.5| -12.5| 98.5
Suncor | 26.9500| 3.5| 128.1| 57.6
Canadian Natural Resources | 37.6800| 3.7| 82.8| 55.0
MT Newswires:
The S&P/TSX Composite Index closed sharply lower on Tuesday as declines in metals and technology stocks outweighed gains in energy, while investors weighed surging oil prices amid renewed US-Iran tensions and mixed signals from the Canadian economy.
The index closed down 444.75 points, or 1.2%, to 35,825.73, with most sectors in red.
Information Technology led decliners, down 3.0%, followed by Base Metals and Industrials, down 2.6% and 2.5%, respectively.
Energy was up 3.1%.
The Battery Metals Index, which includes companies listed both on the TSX and TSX Venture Exchange, dropped 1.6%.
In commodities, West Texas Intermediate (WTI) and Brent crude surged on Tuesday as renewed fighting between the US and Iran heightened concerns over continuing disruptions to Middle East oil supplies.
Fresh US strikes on Iranian targets and threats from Tehran to restrict Gulf oil exports worsened worries about the security of shipments through the Strait of Hormuz, pushing crude prices to their highest levels in about a week.
October WTI crude oil contract settled up $4.46, or 5.2%, at $90.22 per barrel, while November Brent oil was last seen up $4.59, or 5.1%, at $95.08 per barrel.
Meanwhile, December Comex gold futures shed 2.4%, or $106.90, to $4,374.60 per ounce at last look.
In currencies, the US dollar edged higher 0.3% against the Canadian dollar, with USD/CAD at 1.3896 at last look.
On the economic front, the Canadian manufacturing sector continued to expand in August, with the S&P Global Canada Manufacturing PMI easing to 53.0 from 53.5 but remaining above the 50.0 mark that shows the sector is expanding for a fifth-straight month, according to S&P Global on Tuesday.
Additionally, Canadian domestic demand remained resilient in second-quarter gross domestic product, with final domestic demand up 1.5% annually, broadly sustaining the steady growth trend seen since mid-2025, according to BMO Capital Markets in a note. Consumer spending has continued to grow at just under 2%, wrote the bank.
In corporate news, Bombardier (BBD-B.TO) said Tuesday it agreed to acquire the assets of Mitsubishi Heavy Industries’ MHI Canada Aerospace unit in Mississauga, Ontario, for an undisclosed price.
The acquisition will add MHI Canada Aerospace’s aerostructure manufacturing capabilities and about 750 employees to Bombardier’s operations, the Montreal-based business jet maker said.
As well, Loblaw (L.TO) said it plans to invest C$1.2 billion in Canada for the remainder of this year, with spending to be used on opening of new stores and pharmacies, renovating current locations, and developing new store formats.
The company expects to open 75 new locations in 2026, up from 70 planned at the start of the year, the grocer said Tuesday.
US
By Rita Nazareth
(Bloomberg) — A surge in oil prices rippled through global markets, hitting stocks and bonds on worries that higher energy costs will fuel inflation and force the Federal Reserve to boost rates.
West Texas Intermediate crude topped $90 as fighting between the US and Iran escalated, raising concern about further disruptions in Strait of Hormuz flows.
Those risks lifted global yields to the highest since 2008, reducing the appetite for equities at the start of a seasonally weak month.
The S&P 500 lost 0.7%, also dragged down by a rout in chipmakers.
President Donald Trump said the US strikes were in retaliation for Iran trying to put mines in the strait and for an earlier attack on a military base in Jordan. He warned of more strikes to come if Tehran responded.
The exchanges followed weeks of relative calm, during which the Trump administration said it was pivoting from military action to applying economic measures to pressure Tehran.
Both sides have shown little inclination to resume talks since the collapse of an interim peace deal.
“Higher oil prices are threatening to reignite inflation, raising the risks of tighter monetary policy,” said Fawad Razaqzada at Forex.com.
“Also unnerving investors is the continued rise in global bond yields – which kind of goes hand in hand with oil prices.”
Investors are demanding greater compensation to hold bonds as concerns about inflation, government spending and corporate borrowing to finance the artificial-intelligence buildout intensify.
Against this backdrop, money markets see a Fed hike as more likely than not in September.
“The stock market has been able to ignore these moves so far this year,” said Matt Maley at Miller Tabak.
“However, as we have seen in the past, higher yields don’t matter for stocks until they do.”
Expectations for a rate hike increased last week after Fed Chair Kevin Warsh warned inflation wasn’t slowing meaningfully, saying officials would need to act if price pressures don’t ease soon.
“Warsh will be attentive to the impact that higher oil has on inflation compensation across all horizons and on bond yields,” said Krishna Guha at Evercore.
“A single Fed hike would have a trivial effect on longer-term yields and even two or three may not have much impact.”
But pressure on yields will push Warsh to require a more clear-cut signal from the data that it is reasonable to pass on a September hike, he added.
Corporate Highlights:
* Dell Technologies Inc. cranked up its annual sales forecast by $25 billion, exceeding analysts’ estimates in a further signal of surging demand for servers to run artificial intelligence tasks.
* Apple Inc. Chief Executive Officer John Ternus touted the company’s strong product pipeline and teased a “phenomenal” iPhone launch next week in his first remarks to employees as their new leader.
* Anthropic PBC is releasing a new version of its powerful Fable AI model that it says is better at coding and science tasks, as well as more economical — all changes it says are in response to customer feedback.
* S&P Global Inc. is considering spinning out its flagship data and research platform Capital IQ Pro, in a move that could create a standalone firm worth billions of dollars.
* GoPro Inc. soared after the action camera maker entered into a definitive merger agreement with privately held company Starman Optical Inc.
* Chevron Corp. is finalizing a deal that will significantly expand its operations in Venezuela by adding two giant oil fields in the Orinoco Belt, part of a push by Trump to ramp up production in the South American country.
What Bloomberg strategists say…
“Rates volatility is generally well-contained; that matters, because most of the significant downdrafts in stock prices over the past few years have coincided with spikes in rate vol.”
—Cameron Crise, Macro Strategist, Markets Live.
Some of the main moves in markets:
Stocks
* The S&P 500 fell 0.7% as of 4 p.m. New York time
* The Nasdaq 100 fell 1.3%
* The Dow Jones Industrial Average fell 0.8%
* The MSCI World Index fell 0.7%
Currencies
* The Bloomberg Dollar Spot Index rose 0.2%
* The euro fell 0.2% to $1.1589
* The British pound fell 0.3% to $1.3512
* The Japanese yen fell 0.3% to 160.22 per dollar
Cryptocurrencies
* Bitcoin fell 2% to $77,247.48
* Ether fell 2.4% to $2,412.93
Bonds
* The yield on 10-year Treasuries advanced four basis points to 4.79%
* Germany’s 10-year yield advanced two basis points to 3.34%
* Britain’s 10-year yield advanced 16 basis points to 5.22%
Commodities
* West Texas Intermediate crude rose 5.9% to $90.82 a barrel
* Spot gold fell 2.4% to $4,330.08 an ounce
Have a lovely evening everyone.
Be magnificent!
As ever,
Carolann
A little more persistence, a little more effort, and what seemed hopeless failure may turn to glorious success. – Elbert Hubbard, 1856-1915.
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