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5 Things to Know Today: Gordie Howe Bridge Opens, Gas Prices Drop, and the Fed Decision That Could Move Your Loonie

  Monday, July 27, 2026 From a long-delayed border crossing finally opening to a Fed decision that could nudge the loonie, here's what's moving Canadian wallets today. 1. The Gordie Howe Bridge Opens Today — But You Can't Drive on It Until August 1 The long-delayed Gordie Howe International Bridge between Windsor and Detroit holds its official opening today, July 27, more than six weeks after its original June target. The catch: today's ceremony doesn't mean traffic yet. Vehicles won't be allowed on the six-lane, cable-stayed span until August 1. Once open, the toll is set at $8 CAD (US$5.75) each way for most passenger vehicles. What it means for you: If you cross the Windsor-Detroit corridor for work, shopping, or family, mark August 1 on your calendar, not today, and budget roughly $8 a crossing on top of gas. 2. Gas Prices Are Easing After the Weekend Oil Crash Oil prices tumbled over the weekend after the US and Iran paused hostilities, with both Brent and...
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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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