Good morning. This is Hanna Lee. 

The stock market has soared this week, largely because of companies focused on artificial intelligence. If the recent buzz is reminding you of the dot-com bubble, you're not alone in that feeling. We'll look at what's giving investors déjà vu — and what they think is different this time.

THE LATEST

• Air Canada says it will begin cancelling flights today ahead of a possible flight attendant strike this weekend.


• The wildfire near a Halifax business park was caused by a person, Nova Scotia has confirmed. Parts of Annapolis County, N.S., are under forest fire alert, while the explosive growth of blazes near Port Alberni, B.C., are said to be unusual for the area.
   
• Taylor Swift has unveiled the cover art and release date — Oct. 3 — for her upcoming album, The Life of a Showgirl.
   
• The House of Commons has been hit by a significant data breach caused by an unknown "threat actor" targeting employee information.

Is the stock market in an AI bubble?

(Timothy A. Clary/AFP/Getty Images)

Stocks surged again this week, reaching record highs, mainly off of AI-focused companies. But some investors fear we've seen this story play out before.

What's happening: They worry it's a repeat of the dot-com bubble, referring to the skyrocketing of tech companies in the 1990s and their eventual burst in early 2000. The main difference is that the Top 10 companies in the S&P 500 are more overvalued than they were back then — meaning the comedown could be even worse.

This time around: There's a sense that, like last time, investors are getting FOMO with AI, flocking into a space they don't fully understand. Meanwhile, the real economy is struggling with the uncertainty associated with U.S. President Donald Trump's on-again, off-again tariff strategy. But there are also some clear differences — many of today's top companies, like Amazon or Apple, are profitable, with billions of customers. And AI firms continue to be in healthy competition with one another. The biggest question is whether one believes we will be using AI more or less in the future. Investors so far have made their answer quite clear.

Canada's national parks are free for everyone this summer. Some wonder whether they should be

(Parks Canada)

The Canada Strong Pass has been touted as a way to make it easier for Canadians to explore their own country. Some say the program, with benefits that include free entry to national parks until Sept. 2, has actually made that harder.

What's happening: While Parks Canada says it won't have attendance data until the end of the season, it says it's expecting another high-volume period. Many parks across Canada are reporting record-high visitors — and with them, the requisite traffic congestion and environmental concerns. 

And another thing: Some take issue with the fact that the program's perks are open to everyone — even foreign tourists. "It should have been for taxpayers only," said Lorne McVicar, of Halifax, who's had trouble booking a camping trip with his wife this year. Other countries, like Costa Rica and Ecuador, have preferential pricing for their national parks, charging tourists more than their own residents to access them.

Las Vegas is hurting as tourism drops. Are Canadians behind the Sin City slump?

(Justin Sullivan/Getty Images)

Visitors to Las Vegas are down 11 per cent year over year, one of the most dramatic slumps in recent memory outside of the COVID-19 pandemic. And airline figures reveal there's been an even steeper decline among Canadians visiting Sin City.

What's happening: Passengers to Las Vegas from Air Canada, WestJet and Flair all dropped by double digits in June. Executives of mega-casino companies have in their analyst calls mentioned the drop in Canadian visitors. We all know why this is happening — local union leaders are even calling it the "Trump slump."

Added hardships: Nevadans may be facing some economic challenges as a result of these disruptions. The state's unemployment rate of 5.4 per cent is among the highest in the U.S., and Vegas-area businesses have reason to fear a northern boycott: Canadians contributed some $3.6 billion US to the local economy last year. 

In case you missed it

• The Conservatives say Canada's justice system allows non-citizens to get lighter sentences, but experts disagree.
   
• TIFF has pulled from its lineup a documentary about the Oct. 7 attack on Israel, citing footage rights concerns, as well as potential security issues.
   
• At least 123 Palestinians were killed in Gaza City as the Israeli military prepares for a planned takeover.
   
• Federal ministers are meeting with canola industry associations to discuss China's new 75.8 per cent tariff on the crop.

IN LIGHTER NEWS

Was it a plane? Was it a UFO? Bright light over Quebec captivates stargazers

(Farid Gharibeh/Astrolab du Mont-Mégantic Facebook)

In Montreal on Tuesday, stargazers saw something out of this world — or at least, that's what they originally thought. During the Perseid meteor shower, they witnessed a large, bright spiral, streaking across the sky, at nearly 11 p.m. ET. Several people reached out to CBC News, warning of a UFO sighting. But it wasn't that, we promise — it was likely the result of a rocket launch. Its orbit is what made it visible in Quebec.