Morning Money — Thursday, November 5, 2026
Oil’s plunge offers relief—with a catch
Brent and U.S. crude fell more than 8% Wednesday as investors reassessed the Iran war outlook after the U.S. midterms. Prices are recovering some ground today: at 6:45 a.m. ET, Brent was US$96.37 and WTI US$89.01. For Canadians, sustained lower oil could ease fuel and shipping costs, but it also reduces revenue for energy producers. The conflict remains unresolved.
A split market before the bell
TSX futures gained 0.2% at 5:59 a.m. ET. At 7:04 a.m., Dow futures were up 0.62%, S&P 500 futures rose 0.2% and Nasdaq-100 futures slipped 0.51%. Qualcomm fell 9.6% in premarket trading after smartphone-chip sales missed expectations. These are early snapshots, not closing prices.
Canadian earnings in focus
Manulife reported record core earnings of C$2.1 billion, but net income attributable to shareholders fell to C$1.4 billion. Its wealth and asset-management business still had C$3.6 billion in net outflows.
Bombardier raised its full-year free-cash-flow forecast to more than US$1.3 billion. Quarterly revenue grew 3%, supported by stronger aircraft-services sales.
Canadian Natural beat quarterly profit estimates, while Nutrien missed as higher sulfur costs and lower nitrogen sales volumes weighed on results.
Tomorrow’s test: Canada’s October jobs report
A Reuters poll expects 13,600 additional jobs and unemployment holding at 6.5%—forecasts, not results. The release will provide fresh evidence on hiring and the outlook for interest rates.
