Subject: Oil tops $103, the Dow sheds 650: your Monday setup
📊 Markets snapshot (Friday, Oct 23 close)
| Market | Friday close | Change |
|---|---|---|
| S&P 500 | 7,623.68 | −0.52% |
| Nasdaq | 25,955.34 | −0.21% |
| Dow | 52,215.16 | −1.23% |
| S&P/TSX | 35,788.18 | −0.52% |
| U.S. 10-yr yield | 4.987% | +3.5 bp |
| WTI crude (Dec) | $103.27 | +3.8% |
| Gold (Comex) | $3,991.10 | −1.28% |
| Bitcoin | $81,074 | −0.29% |
Sources: CNBC, AP News, The Globe and Mail / Reuters, Morningstar (10-yr), Morningstar (gold), Yahoo Finance (BTC)
🔥 Top story: Oil rips, the Dow drops
WTI jumped 3.8% to $103.27. Brent settled at $116.72, its highest since April. On the TSX, energy (+2.1%) was the only sector that finished higher. American Express fell 3.7% after announcing it will cut 5% of its workforce, and that weighed on the Dow. [1] [3]
Why it matters: Weekend headlines from the Middle East will likely set the tone for oil this morning. That's good news for Alberta producers but bad for everyone else's costs.
🗓️ On the calendar (times MT)
- Wed 28: 🇨🇦 BoC decision + MPR, 7:45am. 🇺🇸 Fed decision, 12pm. [12] [7]
- Thu 29: 🇺🇸 Q3 GDP (advance) + September PCE inflation, 6:30am. [7]
📈 Stat of the day
334 vs. 74. That's how many Nasdaq stocks hit new 52-week lows on Friday versus new highs. [3]