The TSX is up 0.30%, while the TSX Venture Index is down 0.31%, as Canadian markets hold firmer despite another sharp pullback in technology shares. In the U.S., the Dow is slightly higher, but the Nasdaq is down 1.35% as the AI trade continues to unwind and investors digest the biggest one-day loss for the Magnificent 7 since April 2025. London’s FTSE 100 is higher by nearly 1%, reflecting stronger relative performance outside U.S. mega-cap tech.
Commodities are mixed as oil pulls back for the first time in a week, even as geopolitical and tariff concerns continue to shape the macro backdrop. Gold is modestly higher as investors maintain some defensive positioning, while copper is slightly lower and natural gas is nearly flat. Bitcoin is down 1.61% in Canadian-dollar terms, extending weakness as speculative assets remain under pressure.
Market numbers
TSX: Up (+0.30%) 35,297.34
TSXV: Down (‑0.31%) 871.34
DOW: Up (+0.13%) 51,795.3
NASDAQ: Down (‑1.35%) 28,181.9
FTSE 100: Up (+0.96%) 10,700.00
In the headlines
- SpaceX selloff deepens after IPO surge: SpaceX (NDAQ:SPCX) — the aerospace, satellite, and launch company led by Elon Musk — has now seen its stock cut roughly in half after joining an industry-wide selloff already underway. The company also faces a major Starship test as it turns away some Falcon rocket customers, adding execution risk to an already volatile post-IPO trade.
- Intel rallies on stronger earnings and outlook: Intel (TSX:INTC) — the U.S. semiconductor manufacturer and chipmaking veteran — rose after second-quarter earnings beat expectations on both revenue and profit, with management also issuing an upbeat third-quarter outlook. Investors welcomed signs that Intel’s turnaround is gaining traction as demand improves across key chip markets.
- Magnificent 7 loses nearly $800B in market value: The Magnificent 7 — the group of mega-cap technology leaders including Apple, Microsoft, Alphabet, Amazon, Meta, Nvidia, and Tesla — erased $797 billion in market value in its worst session since April 2025. The move reflects rising concern that AI-related valuations had run too far, too fast.
Currencies
USD: Down (‑0.14%) $0.7090
GBP: Down (‑0.15%) $0.5320
EUR: Down (‑0.06%) $0.62377
JPY: Down (‑0.11%) ¥116.226
AUD: Down (‑0.20%) $1.0165
Bitcoin (BTC/CAD): Down (‑1.61%) 90,253.2
(Conversion to C$1)
Commodities
Copper: Down (‑0.06%) 6.37193
Gold: Up (+0.23%) 4,058.87
WTI: Down (‑1.51%) 85.00
Natural Gas: Up (+0.07%) 2.933
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