Markets retreated today as a deepening bond selloff pushed Treasury yields to their highest level in 19 years, weighing heavily on tech names. The TSX slipped 0.07% and the TSX Venture Index dropped 1.15%, while the Nasdaq was hit hardest, falling 0.78% as Nvidia led tech lower. The Dow fell 0.29%, while the FTSE 100 bucked the trend, rising 0.39%.
The 30-year Treasury yield hit its highest level since 2004 as the bond selloff deepened, even as U.S. jobless claims dropped to 197,000, the lowest since mid-July, showing layoffs remain rare. Oil jumped 1.79%, while gold slipped 0.52% and copper eased 0.59%; Bitcoin was little changed, up 0.04%. The U.S. dollar powered above ¥158.50 as traders lifted rate-hike bets to 70%.
Market numbers
TSX: Down (-0.07%) 35,726.42
TSXV: Down (-1.15%) 914.09
DOW: Down (-0.29%) 51,342.8
NASDAQ: Down (-0.78%) 30,259.7
FTSE 100: Up (+0.39%) 10,730.32
In the headlines
- Meta rises as Muse turns AI into a keychain-sized product: Meta Platforms (NASDAQ:META), the social media and AI company behind Facebook and Instagram, gained after unveiling a compact new form factor for its Muse AI agent, with CEO Mark Zuckerberg saying Muse will take a small fee from transactions it facilitates. The move signals a new monetization path for Meta’s AI ambitions.
- Oracle drops as it moves to shield itself from data center cost risks: Oracle Corporation (NYSE:ORCL), the enterprise software and cloud infrastructure company, fell after taking steps to insulate itself from controversial and rising data center costs tied to its AI buildout. The move raises questions about the financial strain of Oracle’s aggressive AI infrastructure expansion.
Currencies
USD: Down (-0.23%) $0.7070
GBP: Down (-0.09%) $0.5346
EUR: Down (-0.13%) $0.62206
JPY: Up (+0.04%) ¥112.316
AUD: Down (-0.13%) $1.0060
Bitcoin (BTC/CAD): Up (+0.04%) 119,035.1
(Conversion to C$1)
Commodities
Copper: Down (-0.59%) 6.78021
Gold: Down (-0.52%) 4,265.35
WTI: Up (+1.79%) 91.00
Natural Gas: Down (-0.13%) 3.022
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