Dear Friends,
Tangents:
September 9, 490 BC: Battle of Marathon.
September 9, 1947: Engineers find a moth jammed in a Harvard Mark II relay and tape it into the logbook as the first actual computer bug.
September 9, 1976: Communist Chinese leader Mao Zedong died in Beijing at age 82. Go to article
William the Conqueror, d. 1087.
Leo Tolstoy, writer, b. 1828.
Hugh Grant, actor, b. 1960
Adam Sandler, actor, b. 1966
Rachel Hunter, actress, b. 1966.
Where on Earth is safest from global catastrophe?
Researchers have worked out the safest, most resilient country to be in during an apocalyptic event. Where is it?.
| Google scientists removed a critical ‘consciousness safeguard’ from AI in new study |
A new study shows that measures to stop AI’s claims of consciousness have unintended consequences for non-human entities. What happened next?
| ‘Drops in the ocean can make waves’: How the grassroots climate movement took off in the US |
In 2018, calls for a Green New Deal broke into climate policy. In this excerpt from "The Carbon Wave," author Leah Stokes explores the lead up to that moment, and the wave of environmental action that followed.
| This AI-designed drone tricks your eyes into not seeing it |
This drone doesn’t turn invisible, it becomes a blur that human eyes can’t spot! Meet Phantom twist, an AI-designed drone that spins 25 times per second and takes advantage of the way humans perceive motion. Watch now.
| Arctic warming fuels 2 distinct climate regimes in Siberia that could wake up a methane ‘sleeping giant’ |
New research finds that western Siberia is becoming wetter as the world warms, while eastern Siberia seems to be getting drier. And both these conditions are fueling a rise in methane emissions, spelling trouble for the climate.
To improve is to change, so to be perfect is to have changed often. -Sir Winston Churchill.
The NFL season officially kicks off tonight
It’s once again socially acceptable to spend hours glued to the TV. Here are 5 things to watch in the first week of games.
Or rather curl up with a book?
Social reading with hundreds of strangers is happening across the world.
OpenAI says it has solved one of math’s ‘Millennium Problems’
| OpenAI announced its AI technology has cracked one of the “Millennium Problems” — seven famously difficult mathematical questions that have stumped even the world’s brightest minds. |
Video: Prince George starts at elite $80,000-a-year Eton College
Britain’s Prince George has arrived at Eton, the elite school that taught his father and 20 UK prime ministers. Watch the video.
Do you live near anyone with a purple front door? If so, there may be a witch in your neighborhood, according to folklore.
PHOTOS OF THE DAY
New York City
The Tribute in Light is illuminated over the skyline of lower Manhattan and One World Trade Center, as seen from the Empire State Building, ahead of the 25th anniversary of the September 11 attack
Photograph: Gary Hershorn/Getty Images
Les Diablerets, Switzerland
Blankets made of sheep’s wool and synthetic material are laid over glacier ice at Glacier 3000, as part of an experiment testing a natural, biodegradable alternative to synthetic coverings to reduce glacier melt. The experiment has shown promising preliminary results
Photograph: Fabrice Coffrini/AFP/Getty Images
Amsterdam, the Netherlands
‘A view of the Amstel River. A positive thing about the flat Dutch landscape is that we always see a lot of sky and clouds. If the clouds are reflected by water, it becomes magic.’
Photograph: Thijs Faas
Market Closes for September 9th, 2026
| Market Index |
Close | Change |
| Dow Jones |
52380.66 | -405.41 |
| -0.77% | ||
| S&P 500 | 7636.36 | -37.16 |
| -0.48% | ||
| NASDAQ | 26253.34 | -168.07 |
| -0.64% | ||
| TSX | 35906.56 | -216.49
-0.60% |
International Markets
| Market Index |
Close | Change |
| NIKKEI | 65142.78 | -126.55 |
| -0.19% | ||
| HANG SENG |
25274.96 | -42.22 |
| -0.17% | ||
| SEN SEX | 74764.23 | -813.35 |
| -1.08% | ||
| FTSE 100* | 10670.06 | -141.60 |
| -1.31% |
Bonds
| Bonds | % Yield | Previous % Yield |
| CND. 10 Year Bond |
3.846 | 3.809 |
| CND. 30 Year Bond |
4.216 | 4.187 |
| U.S. 10 Year Bond |
4.8406 | 4.7882 |
| U.S. 30 Year Bond |
5.2889 | 5.2454 |
| BOC Close | Today | Previous |
| Canadian $ | 0.7245 | 0.7256 |
| US $ |
1.3802 | 1.3781 |
| Euro Rate 1 Euro= |
Inverse | |
| Canadian $ | 0.6226 | 1.6060 |
| US $ |
0.8593 | 1.1636 |
Commodities
| Gold | Close | Previous |
| London Gold Fix |
4399.54 | 4359.47 |
| Oil | ||
| WTI Crude Future | 96.05 | 93.03 |
Market Commentary:
If I had eight hours to chop down a tree, I’d spend six sharpening my axe. –Abraham Lincoln, 1809-1865.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite fell for the third day, dropping 0.6%, or 216.49 to 35,906.56 in Toronto.
The index dropped to the lowest closing level since Sept. 1.
Shopify Inc. contributed the most to the index decline and had the largest move, decreasing 5.4%.
Today, 120 of 215 shares fell, while 93 rose; 9 of 11 sectors were lower, led by financials stocks.
Insights
* This year, the index rose 13%, heading for the best year since 2025
* This quarter, the index rose 3%
* The index advanced 24% in the past 52 weeks. The MSCI AC Americas Index gained 17% in the same period
* The S&P/TSX Composite is 3.1% below its 52-week high on Aug. 26, 2026 and 23.7% above its low on Sept. 9, 2025
* The S&P/TSX Composite is little changed in the past 5 days and fell 1.3% 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$5.67t
* 30-day price volatility rose to 12.03% compared with 11.96% in the previous session and the average of 10.74% over the past month
Index Points
Financials | -132.4751| -1.1| 2/20
Information Technology| -94.5760| -3.5| 1/8
Industrials | -44.0397| -1.2| 2/28
Consumer Discretionary| -10.7791| -1.0| 0/8
Utilities | -7.4661| -0.6| 4/9
Communication Services| -6.4128| -1.1| 1/4
Real Estate | -1.1391| -0.3| 7/10
Health Care | -0.8902| -0.8| 1/4
Consumer Staples | -0.5403| -0.1| 6/4
Energy | 19.6818| 0.3| 20/16
Materials | 62.1339| 0.9| 49/9
Shopify | -84.8900| -5.4| 22.5| -20.8
RBC | -25.7400| -0.9| -25.2| 22.1
TD Bank | -17.3900| -0.9| 32.8| 27.3
Wheaton Precious Metals | 9.2890| 1.4| -28.7| 34.3
Canadian Natural Resources | 10.8500| 1.1| 94.0| 52.5
Suncor | 13.1100| 1.7| 79.8| 56.4
MT Newswires:
The S&P/TSX Composite Index closed lower on Wednesday as weakness in technology, industrial and financial stocks outweighed gains in energy, while investors weighed escalating Canada-US trade tensions and a surge in crude oil prices.
The index closed down 216.49 points, or 0.6%, at 35,906.56 with most sectors in the red.
Information Technology led decliners, down 2.0%, followed by the industrial and financial sectors that closed down 1.2% and 1.1%, respectively.
Energy shares climbed 1.0%.
The Battery Metals Index, which includes companies listed both on the TSX and TSX Venture Exchange, jumped 3.6%.
In commodities, West Texas Intermediate (WTI) and Brent crude surged as escalating attacks between the US and Iran on oil tankers near the Strait of Hormuz heightened concerns about further disruptions to Middle East oil supplies.
October WTI crude oil contract settled up $3.02, or 3.3%, at $96.05 per barrel, while November Brent oil was last seen up $3.42, or 3.5%, at $101.34 per barrel.
Meanwhile, December Comex gold futures jumped 0.1%, or $4.00, to $4,443.00 per ounce at last look.
In currencies, the US dollar edged up 0.2% against the Canadian dollar to CA$1.3809 at last look.
Canadian wheat stocks surged 57% year over year to 6.6 million tones at the end of the 2025-2026 crop year, fueled by record production, according to the Ottawa-based statistical agency on Wednesday.
Dry pea stocks soared 142% to 1.2 million tonnes by July 31, while lentil stocks more than doubled to 1.3 million tonnes, Statistics Canada wrote in a statement.
On the trade front, US President Donald Trump’s Canada import ban escalated trade tensions and cast fresh doubt on the future of the United States-Mexico-Canada Agreement, despite it covering just a tiny fraction of Canadian exports, according to Capital Economics in a Wednesday note.
Trump’s ban, announced on Tuesday, covers only 0.25% of Canada’s US-bound exports, calculated Capital Economics.
Trump banned roughly $1 billion worth of Canadian products, including alcohol and cheese, effective Sept. 29.
In economics news, gasoline stations led Canada’s automotive retail sector in the first half of 2026, with sales jumping 13.3% year over year amid higher fuel prices tied to the US-Iran war, according to DesRosiers Automotive Consultants in a note.
New-vehicle dealer sales rose 0.8% over the period, while remaining at record levels from a dollar value perspective.
Accessories and tire store sales increased 1.3% and used-vehicle dealer sales climbed 2.4%.
US
By Rita Nazareth
(Bloomberg) — A resurgence in oil prices drove stocks and bonds lower, with losses deepening as the Treasury said it will purchase up to $6 billion of longer-dated government debt.
The reaction shows some investors had expected an even larger increase.
Ten-year yields hit the highest since 2023.
Brent crude topped $101 as Middle East tensions fueled worries about energy disruptions, adding to bets the Federal Reserve will raise rates to curb potential inflationary pressures.
The S&P 500 fell for a third straight day.
Apple Inc. unveiled a foldable smartphone.
President Donald Trump downplayed concerns about oil prices and a war he said will end after the midterm election.
But hostilities show little sign of easing.
Iran will escalate counterstrikes if the US continues attacking its territory and infrastructure, according to a senior official from the Islamic Republic.
“The temperature just got turned up again,” said Kenny Polcari at SlateStone Wealth.
“The risk premium is alive and well, and the risk to energy supplies coming out of the Gulf is real.”
Despite the geopolitical risks, the dollar remained at a near seven-month low.
The yen rose.
Treasury Secretary Scott Bessent challenged traders to test his resolve on boosting Japan’s currency, saying when he wades into markets these days, he’s effectively doing so with inside information.
The spike in energy costs comes as traders brace for this week’s key inflation data.
The issue of elevated prices and whether the Fed will hike rates for the first time in three years could dominate the Sept. 15-16 policy meeting.
With officials concerned by persistently high inflation but divided over how monetary policy should respond in the near term, new evidence of price pressures could tilt the Federal Open Market Committee into a hike.
Cooler reports are likely to keep the Fed on hold, as it’s been through five previous meetings this year.
The Bureau of Labor Statistics will release August data for the producer price index on Thursday, followed by the consumer price index on Friday.
“A hot CPI print would all but seal a September hike and underpin a firmer dollar,” said Elias Haddad at Brown Brothers Harriman & Co.
“A cooler reading would strengthen the case for a hold and leave the dollar vulnerable to a dovish Fed repricing.”
Money markets assigned an around 60% probability of a September Fed hike.
Corporate Highlights:
* Apple’s iPhone Duo will improve on rivals’ foldable models, newly appointed Chief Executive Officer John Ternus said, mocking competing handsets as two phones glued together.
* Alphabet Inc.’s Google is spending €13 billion ($15.1 billion) on artificial-intelligence infrastructure in Finland, its biggest European investment, as the Nordic country’s cold climate and carbon-free power make it a magnet for data center builders.
* Amazon.com Inc. raised £4.25 billion ($5.8 billion) from its debut sterling bond sale, increasing the size of the four-part deal even as orders from investors tailed off.
* Dell Technologies Inc. raised $5 billion from an investment- grade bond sale that saw booming investor demand as the company rides a surge in revenue from AI servers.
* Dow Inc. is considering plans to exit its $20 billion chemicals partnership with Saudi Aramco, people familiar with the matter said, as part of the US firm’s efforts to reshape its portfolio amid a prolonged downturn in the industry.
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 0.3%
* The Dow Jones Industrial Average fell 0.8%
* The MSCI World Index fell 0.6%
Currencies
* The Bloomberg Dollar Spot Index was little changed
* The euro was little changed at $1.1630
* The British pound was little changed at $1.3545
* The Japanese yen rose 0.2% to 153.65 per dollar
Cryptocurrencies
* Bitcoin fell 0.3% to $78,215.57
* Ether fell 0.7% to $2,464.35
Bonds
* The yield on 10-year Treasuries advanced five basis points to 4.84%
* Germany’s 10-year yield advanced eight basis points to 3.44%
* Britain’s 10-year yield advanced nine basis points to 5.26%
Commodities
* West Texas Intermediate crude rose 3.9% to $96.69 a barrel
* Spot gold rose 1% to $4,398.87 an ounce
Have a lovely evening.
Be magnificent!
As ever,
Carolann
Be willing to be a beginner every single morning. –Meister Eckhart, 1260-1328.
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