A SpaceX Falcon Heavy rocket lifts off from historic launch pad 39-A at the Kennedy Space Center in Cape Canaveral, Florida, on Feb. 6, 2018.JOE SKIPPER/Reuters
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WHAT YOU NEED TO KNOW
Marijuana legalization could be delayed beyond July 1, government officials say
July 1, 2018 has long been billed as the date by which recreational cannabis would be legalized, but government officials say that legalization could be delayed past Canada Day. The government is still aiming to achieve legalization by July 1. Implementation of a Bill C-45, the cannabis legalization bill currently in the Senate, will take between eight to 12 weeks, once the legislation has received royal assent.
Dow finishes more than 550 points higher in volatile trading day
U.S. stocks posted sharp gains in another wild trading session, as indexes rebounded from the biggest one-day drops for the S&P 500 and the Dow in more than six years on Monday. The Dow Jones Industrial Average rose 569.32 points to 24,915.07, the S&P 500 gained 46.31 points to 2,695.25 and the Nasdaq Composite added 148.36 points to 7,115.88. In Toronto, the S&P/TSX composite index was up 29.12 points at 15,363.93.
As the stock market gyrates, Donald Trump is learning something the hard way: When a president fixates on a number, it becomes his responsibility, Joanna Slater writes. Unlike his predecessors, Mr. Trump has seized on the stock market as a kind of scorecard for his administration. The risks of that strategy are obvious to any investor: markets go up and down, sometimes in brutal and unpredictable ways.
David Rosenberg writes that we should blame this market meltdown on too much optimism. Jennifer Dowty says that there are six reasons why this may be an opportune time to buy stocks. One key data point that she's watching: the economic backdrop is positive. (for subscribers)
Olympic volunteers file dozens of petitions over bad food, shoddy housing
The office of South Korean President Moon-Jae in has already received more than 60 petitions regarding working conditions for volunteers at the Pyeongchang Winter Olympics. The petitions demand hot drinking water, hot showers and improved accommodations. Around 15,000 volunteers are scheduled to be on hand in Pyeongchang, the most ever for a Winter Games. Complaints have also been lodged regarding the quality of food and some staff have dubbed the situation as working for "Pyeongchang Jail."
SpaceX's new rocket blasts off on its first test flight
SpaceX, the aeronautics company led by Elon Musk, launched The Falcon Heavy, the most powerful rocket in use today. The rocket lifted off from Cape Canaveral, Fla., where nearly 50 years ago NASA sent men to the moon. One of the defining features of the new rocket is that its boosters can be recycled, shaving off millions in costs. There were no humans aboard but a roadster from Mr. Musk's Tesla will be making the trip. (for subscribers)
Canada selling helicopters to Philippines despite human rights concerns
Prime Minister Justin Trudeau has voiced concerns about human rights abuses committed under Philippine President Rodrigo Duterte but the federal government has brokered a deal to sell combat utility helicopters to the Southeast Asian country's air force. "The helicopters will be used for the military's internal security operations," said Philippines Major-General Restituto Padilla, military chief of plans. Armed death squads have been responsible for extrajudicial killings as part of Mr. Duterte's war on drugs. The NDP is calling on Canada to back away from the sale, and arms control advocates are questioning why the Liberals are moving forward with the deal.
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OLYMPICS 2018
Mikaël Kingsbury, the Canadian moguls skier, is already king of the hill, but can he capture gold at the 2018 Olympics? We take you inside his perilous pursuit of glory and Olympic gold with this interactive feature.
WHAT'S TRENDING
PepsiCo says that "Lady Doritos" aren't being developed. The phrase started trending on social media after the company's CEO Indra Nooyi said on a podcast that women don't like to lick their fingers after eating a bag of Doritos. The internet started speculating that PepsiCo would move forward with Lady Doritos.
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TALKING POINTS
The Kurds need Canada: What level of atrocity won't we ignore?
"While powerful nations play a strategic game of morally-deficient diplomacy, civilians in Afrin pay the price. The United States and Canada continue to ride Kurdish coattails of bravery and success, but have not offered protection to civilians in Afrin, nor a clear and definitive stand against Turkish aggression." — Rouhlat Ali
The disrepair of 24 Sussex: It's time to bring in the professionals
"Successive governments made 24 Sussex Dr. a symbol of financial and environmental calamity. By contrast, a non-partisan, expert-led commission tasked with managing our official residences for our national benefit would turn 24 Sussex Dr. back into a symbol of financial and environmental excellence. Now that is something that can unite us all." – Benjamin Shinewald
A new nuclear arms race is upon us
"One of the more comforting developments of modern times has been the decline in nuclear-arms stocks and the threat they constitute. Sanity among the superpowers has been evident for three decades – ever since Mikhail Gorbachev took the evil out of his empire and reached arms agreements with Ronald Reagan. But the run of prudent oversight is drawing to a close." — Lawrence Martin
LIVING BETTER
Mindfulness exercises are a growing trend. Defined as 'the practice of purposeful attention to the present,' it can have a variety of benefits. While research on mindfulness in children is still a relatively new field, a number of studies have shown benefits of mindfulness for kids as young as five years old. (for subscribers)
LONG READ FOR A LONG COMMUTE
Why Canada's pot stock boom just doesn't add up
Valuations are stretched. Marijuana prices are falling. And supply is expected to vastly outstrip demand. The cannabis industry is showing some cracks. Andrew Willis does a deep dive into the investors chasing the high. David Berman also took a look at the marijuana millionaires, the Canadian executives getting rich off the rally. (for subscribers)
Evening Update is written by Mayaz Alam and S.R. Slobodian. If you'd like to receive this newsletter by e-mail every weekday evening, go here to sign up. If you have any feedback, send us a note.