Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
U.S. stock index futures inched lower on Wednesday as investors took a breather from a rally that was sparked by the Federal Reserve’s likely pivot to a dovish policy, while FedEx tumbled after issuing a grim outlook.
All the three main indexes have advanced over 2% since the Fed’s Dec. 13 verdict where policymakers projected lower policy rates by the end of 2024, with the blue-chips Dow hitting record highs every other day and the S&P 500 within arm’s reach of its highest closing levels since January 2022.
Since then central bank officials have attempted to keep investor euphoria in check, the latest being Chicago Fed President Austan Goolsbee who said further progress on beating back inflation will be the decisive factor in any central bank decision next year to reduce interest rates.
Still, traders expect the Fed to ease credit conditions by over 125 basis points by September next year, with a 71.1% chance that the first 25 basis point cut could come in as early as March.
Meanwhile, FedEx slid 9.9% in trading before the bell after the global delivery firm cut its full-year revenue forecast and reported quarterly profit that fell far short of analysts’ targets, as its largest Express business saw demand from the U.S. Postal Service drop.
The U.S. stock index futures are set for a lower open on Wednesday as investors take a breather from a rally that was sparked by the Federal Reserve’s likely pivot to a dovish policy. The blue-chips Dow has hit record highs every other day and the S&P 500 is within arm’s reach of its highest closing levels since January 2022. However, central bank officials have attempted to keep investor euphoria in check, with further progress on beating back inflation being the decisive factor in any central bank decision next year to reduce interest rates. Meanwhile, FedEx slid 9.9% in trading before the bell after the global delivery firm cut its full-year revenue forecast and reported quarterly profit that fell far short of analysts’ targets, as its largest Express business saw demand from the U.S. Postal Service drop.
Comments
Post a Comment