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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Wall Street Inches Higher, US Steel Gets $14 Billion Buyout Offer from Nippon

 

Wall Street opened higher on Monday, with the Dow Jones Industrial Average up 0.2% and the S&P 500 up 0.1% in early trading. The Nasdaq Composite was up 0.1%. Investors are watching the Bank of Japan’s two-day meeting for hints of a change to the central bank’s longstanding near-zero interest rate policy. 

Meanwhile, US Steel has received a $14 billion buyout offer from Nippon Steel, which would make it the largest acquisition in the steel industry’s history. The deal is expected to close in the first quarter of 2024.


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