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Weekly Market Snapshot: TSX Hits Record High, Then Retreats as Fed Shocks Markets

  Week of June 16–20, 2026  |  Published June 20, 2026 It was a week of records and reversals for Canadian investors. The TSX touched an all-time high midweek before a hawkish surprise from the U.S. Federal Reserve and falling oil prices — triggered by the U.S.–Iran interim peace deal — pulled markets lower into Thursday's close. Here's everything that moved the needle for your portfolio and wallet this week. 📊 Weekly Market Scorecard Index / Asset Level (June 19 Close) Week Change S&P/TSX Composite 34,857 ▼ Mixed (high: 35,629 Wed.) S&P 500 (USD) 7,500.58 ▲ +1.08% (Wed.) Dow Jones (USD) 51,564.70 ▲ +0.14% (Wed.) Nasdaq (USD) 26,517.93 ▲ +1.91% (Wed.) WTI Crude Oil (USD/barrel) ~$76.54 ▼ Sharp weekly decline Gold (USD/oz) ~$4,157 ▼ Fell on hawkish Fed CAD/USD (Loonie) ~$0.7068 ▼ Under pressure Note: U.S. markets were closed Friday, June 20, for the Juneteenth National Independence Day holiday. TSX figures reflect Thursday's close. 🇨🇦 TSX: A Record High That Did...
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Stocks sharply higher, rebounding with a boost from chips

 



North American stocks closed higher on Thursday, winning back much of the previous day’s losses, as U.S. economic data fueled optimism that the Federal Reserve would ease monetary policy and revived investor risk appetite.

All three major U.S. stock indexes posted gains as chips surged, led by Micron Technology after its better-than-expected quarterly forecast, putting the tech-heavy Nasdaq out front. The rally gained momentum as the session drew to a close, with the S&P 500 and the Nasdaq surging more than 1%. Canada’s main stock index rose 0.8%, despite a sharp drop in the shares of BlackBerry. Financial markets are pricing in a 71.3% likelihood that the U.S. central bank will reduce the Fed funds target rate by 25 basis points as soon as March, according to CME’s FedWatch tool.

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