Easing Treasury yields and steadier oil helped the S&P 500 and Nasdaq reach record closes.

Google’s 20-year nuclear power deal with Constellation Energy to power the AI build-out boosted U.S. power stocks.

The TSX gained +0.4% as utilities climbed and recovering gold prices supported metal miners.

The why: Management expects a larger company with earnings across more regions to be better able to finance major electricity & gas projects. The companies’ existing investment plans total $32B through 2030, with Florida and Alberta their largest markets.

The why: This separate listing would let investors value ATCO’s industrial businesses on their own. Management is targeting opportunities in modular housing, military camps, and services for remote bases as Canada expands its Arctic defences.

Canada’s major-project boom could lift GDP 4.1% above baseline but require 580,000 workers by 2030, BDC says (TL)

Canadian exports to U.S. surge 8.1% month-over-month in August ahead of new tariffs, lifting trade surplus to $4.2B (BBG) 

Former U.S. Secretary of the Treasury Janet Yellen says Canada should retaliate against Trump tariffs, calls his treatment of U.S. allies “appalling” (BBG)

Ottawa introduces bill to turn Defence Investment Agency into Crown corporation with expanded powers (TL)

Canada’s Ivey business-activity PMI falls to 58.2 in September as price pressures rise (RTRS)

Toronto home sales fall 5.2% month-over-month in September, declining for the 2nd straight month as mortgage rates rise (G&M)

Canadian tech & investment leaders call for U.S.-style startup tax breaks ahead of federal budget, in bid to keep founders and capital in Canada (G&M)

Ontario emerges as preferred site for $500M Bombardier expansion to build Saab GlobalEye military surveillance aircraft (G&M)

Texas probes Gildan-owned (TSX:GIL) Hanes and Fruit of the Loom over potential chemicals in children’s underwear (CBC)

RBC ranks 3rd globally for AI maturity in financial services; TD climbs into top 10 (TL)

Scotiabank targets ultra-wealthy investors with new portfolio platform and institutional investment advice (G&M)

Emera (TSX:EMA) agreed to acquire Canadian Utilities and its parent ATCO in an all-stock deal valuing Canadian Utilities’ common equity at ~$14.3B, with ATCO’s non-utility businesses to be spun off as New ATCO.

CPP Investments agreed to form a U.S. wholesale fibre optic network JV with AT&T and BlackRock’s Global Infrastructure Partners (GIP), combining Forged Fiber 37 and Gigapower. AT&T will own 50%, with CPP and GIP collectively owning the other 50%; the platform will cover ~5M fibre locations and 1M+ AT&T subscribers across 16 states.

PSP Investments agreed to sell North American senior housing operator Sunrise Senior Living in a reported US$1B+ (~$1.4B+) deal, with BDT & MSD Partners funds acquiring a majority stake and Sunrise’s management team investing alongside.

Optima Living: The Vancouver- and Edmonton-based senior housing operator disclosed Montréal-based Axium Infrastructure and Desjardins Global Asset Management (DGAM) Global Private Infrastructure Fund as partners in its previously-announced purchase of five Alberta care communities from Calgary-based non-profit The Brenda Strafford Foundation; the deal is now reported at ~$300M.

Riverside Natural Foods: The Toronto-based maker of MadeGood snacks returned to full family ownership as NYC-based PE firm Prelude Growth Partners sold its minority stake back to the founding Fotovat family after 4+ years; the deal reportedly valued Riverside at over US$1B.

UPPCO: The Michigan-based electric utility, owned by an Axium Infrastructure fund, agreed to buy Xcel Energy’s Michigan electricity transmission & distribution business.

SEMCO Energy Gas Company: The Michigan-based natural gas utility, owned by Calgary-based energy infrastructure company AltaGas (TSX:ALA), agreed to acquire Xcel Energy’s Michigan gas distribution business.

Adastra: The Toronto- and Prague-based data & AI services group (controlled by Carlyle) acquired Infinite Services, a Polish data consultancy specializing in Snowflake.

Walter Ventures: The Canadian-owned VC firm, which is part of Montréal-based Walter Capital Management, joined a ~US$10M (~$14M) pre-seed round for Minerva Humanoids, a U.S. developer of robots for hazardous work, co-led by General Catalyst, Long Journey Ventures, and Credo Ventures.

SmartCentres REIT (TSX:SRU.UN): The Ontario-based property owner announced $450M of senior unsecured debentures, comprising $300M of new 4.795% notes due 2032 and an additional $150M of its existing 3.599% notes due 2029.

BMO (TSX:BMO) announced a $1.75B offering of senior unsecured bail-in notes due 2032, paying 4.408% until 2031 and a floating rate thereafter.

Province of Ontario announced an additional $1B of its existing 4.45% bonds due 2056.

Province of Nova Scotia announced an additional $400M of its existing 4.50% bonds due 2037.