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5 Things to Know Today: July 29, 2026

  Wednesday, July 29, 2026 A fresh Iran missile attack has oil swinging again, the TSX just set another record, the Fed decides this afternoon, Microsoft and Meta report tonight, and your CPP deposit lands today. Here's what it means for your wallet. 1. Your CPP payment lands today Wednesday, July 29 is a Canada Pension Plan deposit day — the seventh of twelve scheduled payments this year and the last one before the August cycle. If you're collecting the maximum retirement pension starting at 65, you'll see $1,507.65 land in your account. The average new beneficiary starting at 65 receives $877.01 . Your amount will match what you received in June: CPP is indexed only once a year, in January (this year's bump was 2.0%), so there's no mid-year change. The next adjustment arrives with the January 2027 deposit. What it means for you: If your deposit is smaller than expected, it's almost always something individual — an early-start reduction, tax withholding, or a...
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S&P 500 Inches Closer to Record High Amid Optimism About Fed’s Policy and Year-End Effect

 

The S&P 500 index closed just shy of a new record high on Thursday, with the broad index gaining 0.04%. The tech-heavy Nasdaq Composite fell 0.03%, while the Dow Jones Industrial Average rose 0.1%. Markets are ending 2023 on a hot streak, with all three indexes on pace for a ninth consecutive weekly gain. For the S&P 500, that would mark the longest streak since January 2004. The index is now within 0.3% of its all-time high, set in January 2022. With one trading session remaining in 2023, the S&P 500 is up 25%.

Investors are optimistic that the Federal Reserve can successfully cool inflation without inducing a major economic slowdown, which has powered the market’s recent advance. Now, some investors say the looming end of the calendar year is giving markets an extra boost. “Nobody who has caught this rally wants to incur a taxable event,” said Michael Green, chief strategist at Simplify Asset Management. “If nobody wants to sell, prices will push higher on low volume”.

The jobless claims data released by the Labor Department on Thursday indicated a gradual cooling of the economy. Initial jobless claims, considered a proxy for layoffs, were 218,000 in the week ending Dec. 23, slightly more than the 215,000 that economists expected.

Bond yields rose as prices fell, reflecting expectations of higher inflation and interest rates. The yield on the benchmark 10-year Treasury note rose to 3.849%, up from 3.7%.

Some investors are increasing their exposure to energy and industrial stocks, which could benefit from a strong economic recovery. Matt Dmytryszyn, chief investment officer at Telemus Capital, said his fund is boosting its position in shares of energy and industrial firms.


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