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In focus: Canadian exchanges’ trading hours, GDP numbers and pipeline decisions
Good morning, I’m filling in for Chris Wilson-Smith on today’s business newsletter. In focus this week are Canadian exchanges’ trading hours, GDP numbers and pipeline decisions.
But first, today’s top headlines: Up first In the news Trade: Trump’s heavy-handed approach to China leaves economic partners with a stark choice, Mark Rendell writes . Transportation: The high-stakes negotiations for Carney’s airport privatization plan are ramping up. Here’s what to watch . The Prosperity’s Path series: To resist American domination, Canada must change its broken tax system .
In focus What to watch this week Hi, I’m Joy SpearChief-Morris, The Globe and Mail’s CJF Business Fellow. Here are five files I think we should pay attention to this week in business news. Longer trading hours: The CIX is extending trading hours for investors.
Jameson Berkow reports that beginning today, stocks can be traded on Canadian exchanges from 8 a.m. to 5 p.m. Hours will move to 7 a.m. to 8 p.m. later this year, and eventually trading will be available 23 hours a day, Monday to Friday. The change to trading hours is part of the CIX’s plans to modernize capital markets in Canada – on par with other global markets such as the U.S. The CIX is licensed as an alternative trading system and is not a full-fledged trading market like the Toronto Stock Exchange.
“What we are really trying to do is get to a level playing field from an access perspective,” said Jeff Foster, a two-decade veteran of TSX parent TMX Group Ltd. who is now the founder and chief executive of CIX. An expected fall in GDP: Canada is set to release its GDP numbers for the month of July on Tuesday, along with a preliminary estimate for August.
According to analyst reports, a slight decline in gross domestic product is expected for July, with manufacturing, wholesale trade and retail all seeing dips at the beginning of the third quarter. However, with most of the Canadian games for the FIFA World Cup taking place in July, spending in entertainment and culture should help offset some of the losses from other sectors.
The Canadian economy bounced back strongly in the second quarter, but the escalation of the U.S.-driven trade war is expected to weigh on growth in the months to come. A new pipeline? Ottawa will decide this week whether a new pipeline from Alberta to the West Coast will be designated as a project of national interest.
Emma Graney in Calgary reported last week that the federal government was set to make a decision on the 1,250-kilometre pipeline submitted by Alberta to the Major Projects Office this past summer. The timing coincides with a current push by Canada to diversify exports away from the U.S. – looking particularly at Asian markets – as well as attempts to ease tensions with the province as its Oct. 19 referendum on separation approaches.
The proposed pipeline has the potential to produce billions of dollars in royalties, but remains a contentious issue among environmentalists and affected First Nations. It also presents an economic risk for taxpayers. Rise in U.S. jobs: The United States is set to release job numbers for September this Friday. Analysts are predicting a gain of 100,000 positions, adding to the 162,000 from August.
The unemployment rate is expected to remain at 4.1 per cent. Investors will be closely watching the report for signs of economic strength that could prompt the Federal Reserve to raise interest rates for a second consecutive time at its next decision on Oct. 28. The fall of a sportswear giant: Nike Inc. will release its latest earnings report on Thursday.
The company’s shares have shed about 50 per cent of their value over the past year, and investors will be looking for signs that its turnaround strategy shows promise. Reuters reported earlier this month that Nike’s dramatic decline in market value will likely lead to its removal from the Dow Jones Industrial Average, which it joined in 2013. Charted Rewind and revise Statistics Canada regularly revises its past population counts, but this revision was particularly large.
While the country initially showed a small quarter-over-quarter population decline during the fall months of 2025, revised numbers show the population has generally been growing – contrary to previous counts, Jason Kirby reports . Quoted It isn’t that AI would set out to systematically exterminate us, one by one.
It is that it would take actions, in pursuit of its own objectives, that had the incidental effect of making human life impossible – in the same way as humans might act, and have, in such a way as to destroy another species. The question isn’t whether we should slow down AI development. It’s whether we still can, Andrew Coyne writes .
Morning update Global markets were mixed as oil jumped on the stalemate in U.S.-Iranian talks, ahead of a data-packed week that carries macroeconomic risk. Wall Street futures were in negative territory, while TSX futures followed sentiment lower. Overseas, the pan-European STOXX 600 was up 0.2 per cent in morning trading. Britain’s FTSE 100 rose 0.24 per cent, Germany’s DAX gained 0.08 per cent and France’s CAC 40 climbed 0.18 per cent.
In Asia, Japan’s Nikkei closed 0.73 per cent lower, while Hong Kong’s Hang Seng advanced 0.54 per cent. The Canadian dollar traded at 70.60 U.S. cents.
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