Market News: Week Ending October 9, 2026

Market News: Week Ending October 9, 2026

Statistics Canada announced that, in August, Canada's merchandise exports increased 2.5% while imports dropped 2.0%. As a result, Canada's merchandise trade balance with the world rose to a surplus of $4.2 billion from a revised $787 million in July (previously reported as $769 million). Exports to the United States rose 8.1% in August, while imports from the U.S. fell 2.5%. As a result, Canada's trade surplus with the United States widened from $6.1 billion in July to $11.2 billion in August. This is the largest positive monthly change ever observed in Canada's trade balance with the United States. StatsCan simultaneously released the services trade results and a surplus of $0.4 billion was recorded in August. It is widely expected that these figures will continue to fluctuate as international trade remains unsettled. The combined, total trade surplus will be a positive sign for overall GDP growth in the third quarter.

The U.S. Census Bureau announced that the country's international trade deficit in goods and services stood at $105.6 billion in August, considerably wider than the $92.8 billion gap for July. August exports were $315.2 billion, $4.5 billion more than July exports. August imports were $420.8 billion, $17.2 billion more than July imports. A wider trade deficit was anticipated but the changes were greater than anticipated.

The U.S. Department of Labor announced that initial jobless claims totalled 197,000 (seasonally adjusted) in the week ending October 3, a decrease of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 197,000 to 199,000. The 4-week moving average was 198,000, a decrease of 2,500 from the previous week's revised average. The previous week's average was revised up by 500 from 200,000 to 200,500. These results are in line with market estimates.

NOTE:
All index performance is in Canadian dollars.
IMPORTANT DISCLAIMERS:
The information in this letter is derived from various sources, including CI Global Asset Management, CRA, Bloomberg, National Post, Globe and Mail, Wall Street Journal, Bloomberg, Reuters, Investment Executive, Advisor.ca, MarketWatch, Toronto Sun, The Guardian, MSN.ca and Statistics Canada at various dates. This material is provided for general information and is subject to change without notice. Before acting on any of the above, please contact me for individual financial advice based on your personal circumstances. Certain statements contained in this communication are based in whole or in part on information provided by third parties and CI Global Asset Management has taken reasonable steps to ensure their accuracy. Market conditions may change which may impact the information contained in this document.