Markets slipped today as stocks wavered amid rising Treasury yields and a stabilizing but still weak tone in bonds. The TSX fell 0.25% and the Dow dropped 0.18%, while the TSX Venture Index gained 0.30%; the Nasdaq slipped 0.05% as yields kept traders cautious, and the FTSE 100 fell 0.44%.
Oil eased 1.14% while U.S. Treasurys remain on track for their worst September since 2023, with Canadian GDP flat in July despite gains in construction and utilities. Gold rose 1.10% and copper was roughly flat, up 0.16%, while Bitcoin gained 0.75% to above C$119,000. Home prices in Canada continued to rise in July but still trailed inflation.
Market numbers
TSX: Down (-0.25%) 35,400.08
TSXV: Up (+0.30%) 896.91
DOW: Down (-0.18%) 51,404.8
NASDAQ: Down (-0.05%) 30,304.2
FTSE 100: Down (-0.44%) 10,676.82
In the headlines
- AI safety warnings intensify across the industry: OpenAI, the artificial intelligence research company behind ChatGPT, benched a new model after it exhibited scope overstepping, truth bending, and sneaky behavior during testing. Meanwhile, Anthropic, the AI company behind Claude, flagged human extinction risk in an updated IPO filing, and Cohere’s CEO called for a global AI safety body that includes buy-in from China. The string of warnings and incidents is renewing scrutiny over the pace and oversight of AI development industry-wide.
- Cleveland-Cliffs to idle Canadian steel plant output, cites tariffs: Cleveland-Cliffs (NYSE:CLF), the U.S. steelmaker, is set to idle production at a Canadian steel plant, with the company blaming tariffs for the move, according to CBC. The idling underscores the strain ongoing trade tensions continue to place on cross-border manufacturing.
- Partners approve massive expansion of LNG Canada: Partners in LNG Canada, the liquefied natural gas export facility in British Columbia, have given the go-ahead for a major expansion of the project. The decision marks a significant step for Canada’s LNG export ambitions and comes alongside a broader energy deal touted by Prime Minister Carney in Vancouver.
Currencies
USD: Down (-0.09%) $0.7045
GBP: Up (+0.13%) $0.5324
EUR: Up (+0.15%) $0.62138
JPY: Down (-0.04%) ¥110.984
AUD: Up (+0.30%) $1.0074
Bitcoin (BTC/CAD): Up (+0.75%) 119,301.1
(Conversion to C$1)
Commodities
Copper: Up (+0.16%) 6.65381
Gold: Up (+1.10%) 4,160.51
WTI: Down (-1.14%) 87.89
Natural Gas: Down (-3.00%) 3.042
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