Key Takeaways
- Canada's economy experienced a significant surge in September employment, adding 60,400 jobs, substantially exceeding the estimated 5,000. This robust job growth has led to a notable decrease in the probability of an October rate cut by the Bank of Canada (BoC), falling to 57% from 72% previously.
- Prediction market platform Kalshi has successfully secured over $300 million in new funding, achieving a $5 billion valuation. The funding round was notably led by prominent venture capital firms Sequoia Capital and Andreessen Horowitz.
- Russian President Vladimir Putin issued several statements on nuclear policy, asserting that nuclear tests are beneficial for defense but detrimental for deterrence, while also indicating that an arms race is already underway. He further denied claims that the U.S. is planning to conduct a nuclear test.
- Applied Digital (APLD) shares saw a substantial increase, surging by 30% in pre-market trading. This rise followed the company's strong fiscal first-quarter 2026 earnings report, which surpassed analyst expectations for both revenue and adjusted loss per share.
- Qualcomm (QCOM) is currently facing an antitrust investigation in China concerning its acquisition of Autotalks. This development has contributed to a decline in its pre-market share price.
Canada's labor market demonstrated unexpected strength in September, with 60,400 new jobs added, significantly outpacing economists' forecasts of a 5,000-job gain. The unemployment rate remained steady at 7.1%, defying expectations for a slight increase to 7.2%. This positive data has shifted market sentiment, with the probability of a Bank of Canada (BoC) rate cut in October now standing at 57%, down from 72% before the jobs report. The strong employment figures, particularly a 106,100 increase in full-time positions, suggest a more resilient economy than previously anticipated.
In the venture capital landscape, prediction market platform Kalshi announced a successful funding round, raising over $300 million and achieving a $5 billion valuation. The round was led by prominent firms Sequoia Capital and Andreessen Horowitz, with additional participation from Paradigm, CapitalG, and Coinbase Ventures. Kalshi's expansion into new markets and its growing trading volume, now projected at $50 billion annually, underscore its disruptive potential in the event contracts and sports betting industries.
Geopolitical tensions remained a key focus as Russian President Vladimir Putin addressed several critical issues. Putin stated that nuclear tests are beneficial for defense capabilities but simultaneously detrimental to strategic deterrence. He asserted that a nuclear arms race is already in progress and that Russia is actively developing new deterrence weapons. Putin also clarified that he did not claim the United States was planning to conduct a nuclear test, while reiterating Russia's stance on arms control treaties and its response to U.S. Tomahawk missile supplies to Ukraine through the development of Russian air defense systems.
On the corporate front, Applied Digital (APLD) experienced a significant pre-market rally, with its shares climbing 30%. This surge followed the company's fiscal first-quarter 2026 earnings report, which revealed revenue of $64.22 million against an estimated $49.99 million, and an adjusted loss of three cents per share, outperforming analyst expectations of a 13-cent loss. The company's strong performance and strategic contracts for its AI infrastructure facilities are driving investor confidence.
Meanwhile, Qualcomm (QCOM) saw its shares decline in pre-market trading after China's State Administration for Market Regulation (SAMR) launched an antitrust investigation into the U.S. chipmaker. The probe is related to Qualcomm's acquisition of Israeli connected-vehicle chip company Autotalks, with suspicions of violating China's anti-monopoly laws. This investigation highlights the ongoing scrutiny of major tech acquisitions amid persistent trade tensions between the U.S. and China.
In other corporate news, Ford Motor Company (F) announced key leadership changes, including the appointment of former General Motors (GM) executive Sam Basile as vice president, Advanced Product Development, Cycle Planning and Programs. Additionally, Venture Global (VG) shares fell sharply by 18.3% in pre-market trading after losing a partial arbitration ruling to BP (BP) regarding LNG sales from its Calcasieu Project, with BP seeking damages exceeding $1 billion. Levi Strauss & Co. (LEVI) shares also slipped 6.9% pre-market, despite beating earnings and guidance, due to concerns over tariff impacts on future gross margins.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.