AI model developer Anthropic plans to launch its IPO by mid-November after pushing back its listing timetable. Investors expect a valuation in the US$1.8 trillion to US$2 trillion range. The company posted a net loss of almost US$42 billion in 2025 on roughly US$4.6 billion in revenue, with an operating loss of more than US$8 billion.

All 11 S&P 500 sectors are expected to post earnings growth in the third quarter, the first time since 2021, according to Bloomberg Intelligence. Big Tech and energy are still projected to lead, with earnings growth of 62% and 111%, respectively. Aramark raised its full-year outlook for a second time after signing new service contracts with data center operators.

U.S. core inflation rose more than expected, indicating the disinflation process stalled. After the data, federal funds futures nearly fully priced in a Federal Reserve rate hike next week and suggested a high likelihood of a second increase before year-end. The report said persistent pressures from the Iran war, tariff policy and the data-centre buildout left inflation with little meaningful progress toward the Fed’s target.

Eldorado Gold’s McIlvenna Bay zinc-copper mine in Saskatchewan, Canada, is nearing production after a total investment of $952 million, including $217 million from the federal government. Ottawa designated the project as in the national interest to speed up approvals. The mine is expected to operate for 18 years and average annual output of 54 million pounds of zinc and 41 million pounds of copper, along with gold and silver. Zinc has climbed to a multi-year high above $4,000 per tonne, driven by multiple factors.

Air Canada cut its 2024 adjusted EBITDA outlook to $2.9 billion to $3.2 billion from its prior $3.35 billion to $3.75 billion range, citing a sharp rise in jet fuel costs. Outgoing CEO Michael Rousseau said second-quarter jet fuel expenses were 49 per cent higher than a year earlier. The carrier also said investors including funds managed by Blackstone Inc. will pay $2.5 billion for a 25% stake in its Aeroplan loyalty business, with proceeds to repay an upcoming $1.2 billion bond maturity.

China’s central bank added 20 tons of gold to its reserves in July, extending a run of monthly increases to two years. Spot gold climbed 1.8% to $4,316 an ounce. Institutional investors also increased holdings in gold ETFs, reinforcing bullish sentiment.

The United States imposed a 25% tariff on imported aluminum and aluminum products starting in March 2025, raised it to 50% in June, and in April shifted the assessment to a product’s full value rather than the aluminum content. Canada’s aluminum extrusion industry says the measures have already led to 500 job cuts, or 12.5% of the sector, with another 800 positions projected to be eliminated by year-end. The group also points to surging exports from Vietnam, Thailand, Turkey and the United Arab Emirates into Canada, alleging dumping and subsidies. Canadian extruders are lobbying Ottawa for antidumping action or tariff-rate quotas to curb imports.

The Alberta government said it will provide financial support to oilsands producers to encourage higher output and fill a proposed pipeline to the Pacific Coast capable of carrying a million barrels per day. The plan stems from a broader agreement between federal and provincial governments and five major oilsands companies—Suncor Energy, Canada Natural Resources, Cenovus Energy, Imperial Oil and ConocoPhillips. A central condition is the parallel development of the $16 billion Pathways carbon capture project. The pipeline is estimated to cost $35 billion to $44 billion and does not yet have final approvals or confirmed customers.

Aritzia reported fiscal 2025 first-quarter results with net income rising 176% year over year to C$117 million. Net revenue increased 43% to C$951 million, topping analysts’ estimate of C$922 million, while adjusted EPS came in at C$0.96 versus the C$0.88 forecast. Comparable sales grew 35%, with the U.S. accounting for 67% of the business. The company raised its fiscal 2027 net revenue outlook to C$4.55 billion to C$4.75 billion.