Hurricane Irma has been downgraded to a Category-1 storm after lashing Florida this weekend. While the threat is far from over (indeed, AIR Worldwide is estimating insured losses at up to US$40 billion), markets are largely shrugging off the natural disaster. The Dow is pointing to a triple-digit gain at the open, with sentiment also getting a boost amid relief North Korea didn't conduct another missile test this weekend.

As far as some bellwethers go, look no further than Delta Air Lines (+3.9 per cent pre-market), Carnival Corp (+2.35 per cent pre-market), and Home Depot (+0.2 per cent pre-market) for a sense of investor sentiment about the storm.

Meanwhile, plenty of Canadian companies bore some of the brunt of Irma’s force:

 -TD Bank told us it’s keep all 150 of its Florida branches closed today, plus another 10 in South Carolina.

-Bank of Nova Scotia says 10 of its branches remain closed in areas "most affected" by Irma.

-Alimentation Couche-Tard has 720 stores in Florida. We have not yet been able to reach the company for a status report.

-Emera’s Tampa Electric unit said, as of 4:50 a.m. ET, 59.3 per cent of its customers had power

-We've some mining M&A this morning. Alamos Gold is buying Richmont Mines for US$770 million. We'll chase their CEOs.

MORNEAU CONTINUES TO DEFEND TAX CRACKDOWN 

Finance Minister Bill Morneau sat down with CTV’s Evan Solomon on Question Period yesterday to defend his three-pronged plan to clamp down on tax rules. He attempted to put farmers’ nerves at ease. “We have no intention of trying to make it more difficult for the family farm,” he said, in a nod to one group of vocal stakeholders. Morneau also explained why he’s “squarely targeted” at advantages for “the wealthy among us.” Watch for highlights from that interview today on BNN.

IPHONE EVE

Tomorrow’s the day that’s been 10 years in the making, with Apple poised to unveil a hotly-anticipated new iPhone. But for all the hoopla and cheerleading surrounding the new phone, there are also anticipated announcements that could play a crucial role in lessening Apple’s reliance on its flagship product. Check out Jon Erlichman''s analysis here.

OTHER NOTABLE STORIES:

-Tahoe Resources' mining license for its Escobal project has been reinstated by Guatemala's Supreme Court. Even so, the company might not be out of the woods. The country's Ministry of Energy and Mines has been ordered to consult with Indigenous communities. Moreover, Tahoe is warning it expects certain parties will appeal the court's ruling; plus, it says there's still an illegal roadblock affecting access.  

-Eldorado Gold is putting an end to all investment plans in Greece. The company announced the suspension today, citing ongoing delays obtaining necessary paperwork to proceed with work. "The Company would re-assess its investment options in Greece upon approval and receipt of the required permits, coupled with a supportive government open to discussions surrounding the use and implementation of best available technologies," it said in a statement.  

-Canada Jetlines unveiled more details of its launch plan today. The upstart ultra-low-cost carrier said it plans to offer flights from airports in Hamilton and Waterloo Ontario starting next summer.

-The New York Times has more on the behind-the-scenes drama surrounding Gary Cohn in the White House, with sources saying Trump won’t even make eye contact with his top economic advisor. More here.

-And we've got more news from a miner dealing with jurisdictional risk. Centerra Gold said this morning it's reached a settlement with the Kyrgyz government, which the company sees as a "comprehensive resolution to all of the outstanding matters affecting the Kumtor government."

-Purpose Investments is picking up LOGiQ Asset Management's retail business for $32.9 million. We'll chase Purpose CEO Som Seif. LOGiQ's CEO says the deal will "materially improve" its balance sheet and liquidity.

NOTABLE RELEASES/EVENTS

-Notable data: Canadian housing starts (8:15 a.m. ET)

-10:00 a.m. ET: Canada Jetlines holds news conference in Toronto on launch plan  

-1:10 p.m. ET: Justin Trudeau speaks at Women in the World Summit in Toronto 

Every morning BNN's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day.  Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.