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Daily Markets Update: Alphabet’s Record Plunge Hits Nasdaq, TSX Flat (Oct 30)

  Friday, October 30, 2026  |  Covers Thursday's closes plus Friday's early moves in Asia and Europe A single stock did the damage on Wall Street on Thursday. Alphabet sank 12.6% after weaker-than-expected growth, its worst day on record, and dragged the Nasdaq down 1.4% even though most stocks in the S&P 500 actually rose. Back home, the TSX finished almost exactly flat at 36,249.03, with bank gains offsetting a slide in gold miners. After the close, Amazon and Intel both fell on disappointing results, and Asian markets sold off hard on Friday. Market Snapshot TSX 36,249 -0.04% S&P 500 7,720 -0.30% Nasdaq 26,185 -1.38% C$ in US cents 71.51¢ +0.36% Canada: Banks Up, Miners Down, TSX Flat The S&P/TSX Composite slipped 16.06 points, or 0.04%, to 36,249.03. That leaves it about 2% below its August record high. Banks did the lifting as easing oil prices calmed worries that interest rates will stay higher for longer: RBC rose 0.6%, TD 0.7%, Scotiabank 0.9%, CI...
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U.S. Economy Ends 2023 with Strong Job and Wage Growth


The U.S. economy added 312,000 jobs in December, beating analysts’ expectations and marking the biggest monthly gain since February. The unemployment rate rose slightly to 3.9%, but for a positive reason: more people entered the labor force, looking for work.

The labor market also showed signs of strength in wage growth, which increased by 3.2% over the year, the fastest pace since 2009. This suggests that employers are competing for workers and offering higher pay to attract and retain them.

The strong job and wage numbers cap off a solid year for the U.S. economy, which grew by an estimated 3% in 2023, the highest rate since 2015. However, some challenges remain, such as the ongoing trade tensions with China, the partial government shutdown, and the volatility in the stock market.

The Federal Reserve, which raised interest rates four times in 2023, is expected to continue its gradual tightening of monetary policy in 2024, but may adjust its pace depending on the economic data and the market conditions.



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U.S. Job Growth Exceeds Expectations in December, Wages Rise Solidly

According to the Bureau of Labor Statistics, the U.S. economy added 514,000 jobs in December, exceeding expectations. The unemployment rate fell to 3.9%. The report also showed that wages rose solidly, with average hourly earnings increasing by 0.5%. This is a positive sign for the U.S. economy, which has been recovering from the pandemic.

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