Morning Money — Tuesday, September 29, 2026

BIG STORY: LNG Canada doubles down
Shell and its partners have approved a multi-billion-dollar Phase 2 expansion of LNG Canada in Kitimat, B.C., doubling planned capacity to 28 million tonnes a year. For Canadians, this is a major long-term bet on energy exports, construction and jobs — and a fresh catalyst for the TSX energy complex. The big execution questions are cost, timing and emissions.
Reuters

PREMARKET
• TSX futures were nearly flat (-0.05% at 6:00 a.m. ET), with stronger crude cushioning broader caution.
• At 7:20 a.m. ET, Dow futures were +0.10%, S&P 500 +0.11% and Nasdaq-100 +0.24% as tech stabilized after Monday’s selloff.
• Nvidia was up about 0.7% premarket; Marvell, Micron and Broadcom were each roughly 1% higher.
• Brent crude was near US$105–106 a barrel. That supports Canadian producers, but it also keeps inflation and fuel-cost pressure alive.
Canada markets | U.S. premarket

RATES & THE LOONIE
The U.S. 10-year Treasury yield was around 5.24%, near its highest level since 2007. Higher global bond yields can spill into Canadian fixed-mortgage rates and pressure rate-sensitive stocks. The loonie entered today near a 2½-month low, so Canada’s GDP reading matters for both the dollar and the Bank of Canada outlook.

CANADA TODAY
• Statistics Canada’s official July GDP report lands this morning; its earlier flash estimate pointed to essentially no growth. A weak result would reinforce concern that the strong second-quarter rebound is fading.
• New U.S. restrictions on many bottled Canadian alcoholic beverages take effect today, adding pressure on smaller exporters and renewing calls to reduce interprovincial trade barriers.
• Bank of Canada Deputy Governor Toni Gravelle speaks at 1:35 p.m. ET on repo markets and monetary-policy implementation.
Statistics Canada | Trade update | Bank of Canada

CORPORATE RADAR
• Summit Therapeutics jumped about 18% premarket after AstraZeneca agreed to invest US$2 billion and collaborate on cancer studies.
• Micron reports Wednesday after the close. Its outlook will be a key read on whether AI-driven memory demand can offset worries about the broader chip cycle.
• Anthropic is targeting a valuation above US$2 trillion in its IPO filing — a new test of how much growth investors will tolerate alongside heavy losses.

WHAT TO WATCH
Canada GDP, U.S. job openings at 10:00 a.m. ET, oil near US$105, and whether the 10-year yield stays above 5.2%. Those four signals should set the tone for the loonie, banks, energy stocks and high-growth tech.