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Global Markets Navigate Canada’s Jobs Boom, Kalshi’s $5 Billion Valuation, and Putin’s Nuclear Rhetoric
Stock Market News· 2025-10-10 13:09
Economic Indicators - Canada's labor market added 60,400 new jobs in September, significantly exceeding economists' forecasts of a 5,000-job gain [2] - The unemployment rate remained steady at 7.1%, contrary to expectations for a slight increase to 7.2% [2] - The probability of a Bank of Canada (BoC) rate cut in October decreased to 57% from 72% following the positive jobs report [2] Venture Capital - Kalshi, a prediction market platform, raised over $300 million in a funding round, achieving a valuation of $5 billion [3] - The funding round was led by Sequoia Capital and Andreessen Horowitz, with participation from Paradigm, CapitalG, and Coinbase Ventures [3] - Kalshi's trading volume is projected to reach $50 billion annually, indicating its disruptive potential in event contracts and sports betting [3] Corporate Developments - Applied Digital (APLD) shares surged by 30% in pre-market trading after reporting fiscal Q1 2026 revenue of $64.22 million, surpassing estimates of $49.99 million [5] - Qualcomm (QCOM) shares declined in pre-market trading due to an antitrust investigation by China's SAMR related to its acquisition of Autotalks [6] - Ford Motor Company (F) announced leadership changes, appointing Sam Basile as vice president of Advanced Product Development [7] - Venture Global (VG) shares fell by 18.3% after losing a partial arbitration ruling to BP regarding LNG sales [7] - Levi Strauss & Co. (LEVI) shares slipped 6.9% despite beating earnings expectations, due to concerns over tariff impacts on future gross margins [7]