Global Markets
Canadian Markets
Canada’s main stock index, the S&P/TSX Composite, slipped on Monday despite a modest uptick in gold and oil prices, which typically support resource-heavy Canadian equities. The decline reflected investor caution as manufacturing activity, though improving, remained in contraction territory. The Canadian Manufacturing Purchasing Managers’ Index (PMI) rose to 49.6 in October from 47.7 in September, marking its highest level since January. While the improvement signals a slower pace of decline, the sub-50 reading still indicates overall contraction in the sector. Economists noted that persistent weakness in new orders and employment continues to weigh on industrial momentum, although the data suggests tentative stabilization after months of deterioration.
American Markets
U.S. markets traded the start of the week mixed, reflecting a split in investor sentiment across sectors. The Nasdaq Composite outperformed, driven by renewed enthusiasm for artificial intelligence–related stocks, with Amazon (AMZN) and Nvidia (NVDA) leading the gains. Both companies benefited from optimism surrounding their AI chip partnership, which aims to accelerate cloud computing performance and expand enterprise AI adoption — a key long-term growth driver. Investors rotated towards high-growth technology names while remaining selective in other sectors amid persistent uncertainty around the Federal Reserve’s policy path.
European Markets
European trading sentiment was mixed, as French manufacturing sector remained in contraction during October, according to PMI figures that underscored ongoing industrial weakness. Ireland’s manufacturing activity also slowed, down to a 10-month low, reflecting reduced export demand and cautious business sentiment.
In the United Kingdom,stocks declined even as factory output showed signs of recovery, helped by Jaguar Land Rover’s plant reopening, which provided a temporary boost to manufacturing data. Investors are continuing to be concerned over the weakenss in the economy, and the government’s fiscal outlook as the UK budget looms in the end of November.
Corporate News
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