Here are five things you need to know this morning:

TSX at all-time highs: The Toronto Stock Exchange’s main index set new all-time intraday and closing highs yesterday, and could be poised for more gains today as a mostly positive earnings season winds toward a close. After spending much of 2023 lagging markets in New York riding the tech sector wave, it’s nice to see Canada’s benchmark stock index cranking out gains. The index is now up by almost 20 per cent since November. While investors have a slew of earnings to digest today in setting the direction for equities, in terms of market-moving events, the biggest dot on the calendar for the day is probably the next item on our chase list.

Canada beats expectations on jobs number: Canada added 90,000 jobs in April, Statistics Canada reported Friday, far better than the roughly 20,000 that economists were expecting. The stronger-than-expected showing caused markets to reprice the odds of a rate cut next month, although they’re still about a 50-50 chance. Prior to the jobs report, the odds were nearly two in three of a cut.

Novavax shares double on vaccine licensing deal with Sanofi: Shares in vaccine maker Novavax are soaring in premarket trading on Friday after the company signed a deal with larger rival Sanofi to commercialize a combined influenza and COVID vaccine. The deal gives Novavax, which has market cap of about US$600 million, an instant $500 million in upfront payments, followed by another $700 million down the line if certain targets are met. Sanofi is also taking an equity stake in the company of about five per cent, Novavax said. The company’s N.Y.-listed shared were up by more than 217 per cent at one point this morning, but headed into the open had pared those gains to roughly 120 per cent. That gain puts the company well on its way to its best single-day ever on the market.

Elon Musk says Supercharger unit will expand despite mass layoffs: Less than a month after showing virtually everyone in Tesla’s charging division the door, CEO Elon Musk says the company still plans to expand the business unit and will spend more than US$500 million doing so this year. In April, roughly 500 people who work in Tesla’s Supercharger division were laid off, surprising investors. But in a post on X, the social media company he owns, Musk reiterated that Tesla still plans to add “thousands” of new chargers this year.

British pub culture being tested by U.S.-style tipping: While North America grapples with tipflation in just about every sector of the service economy, that storyline is playing out across the pond too, as tipping is becoming endemic in British pub culture. Bloomberg reports that some of the biggest pub chains in Britain are now adding surcharges of 10 per cent or more to every bill. While tipping in U.K. pub culture has historically been rare and accomplished by dropping a few coins into a jar, technology and the ubiquity of cashless payment devices seem to be driving the trend. “You’d get prompted like 10, 15 per cent, and it was just a click, and it was very, very easy to tip,” said Luke Beavon, head of U.K. operations at card-payment company SumUp, in a quote that should be very familiar to any Canadians who’ve bought just about anything since the pandemic started. While growing, the tipping culture is still small in absolute terms — only about three per cent of SumUp clients have even activated their terminals to accept tipping. But that’s up by more than half from as recently as 2021. Certainly a trend worth watching.