Pension Pulse

Sarah Min, Davis Giangiulio, Chloe Taylor,Lee Ying Shan and Ananya Chetia of CNBC report stocks rise Friday after soft jobs data, Nvidia leads Nasdaq to intraday record:  Stocks rose Friday following a surprisingly weak jobs report that raised hopes the Federal Reserve will hold rates steady in October. The Dow Jones Industrial Average added 250 points, or 0.5%, to close at 51,176.46. The S&P 500 gained 0.7%, rising 56.27 to 7,722.72, while the Nasdaq Composite climbed 1.2%, adding 319.27 to 27,190.86, hitting an all-time high earlier in the day before pulling back as Treasury yields reversed course. Despite Friday’s rally, the Dow was down for the week by about 1.3%. The S&P was little changed, off 0.3%, while the Nasdaq was up 0.6% on the week, with Friday marking its third straight advance. Treasury yields initially fell Friday following the September employment report, but later rebounded, pushing U.S. equities off their highs for the session. Tech stocks rallied as r...

The Canadian Press reports  CPP Investments selling Australian toll road assets for $4.5 billion: Canada Pension Plan Investment Board has signed a deal to sell its Australian toll road assets to Transurban for a total of about $4.5 billion. The deal includes CPP Investments' 10.5 per cent stake in WestConnex and its 25 per cent interest in NorthWestern Roads Group, which includes the Westlink M7 and NorthConnex roadways. James Bryce, head of infrastructure at CPP Investments, says the sale allows the investment manager to realize value from mature assets. CPP Investments first invested in Westlink M7 in 2010, followed by investments to develop NorthConnex in 2014. It invested in WestConnex in 2018. The deal will see Transurban increase its interest in NorthWestern Roads Group to 75 per cent and 60.5 per cent for WestConnex. The transaction is subject to closing conditions, including regulatory approvals. Roushni Nair of Investing.com also reports  Transurban to buy ...