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Weekly Market Snapshot: Geopolitical Fog Meets Earnings Season as Markets Grind Higher

Week ending April 24, 2026 | Canadian Money Brief – moneysavings.ca Markets this week found themselves caught between two powerful forces: a roaring U.S. earnings season pushing stocks to fresh records, and a simmering Middle East conflict keeping oil elevated and investor nerves frayed. For Canadians, that makes for a complicated but important picture heading into the last week of April. TSX Composite: Stuck in the Mud The S&P/TSX Composite spent the week trading in a tight band near the 34,000 mark, unable to mount a meaningful rally. Tuesday delivered a sharp blow — the index plunged over 550 points to close at 33,808 as U.S.-Iran ceasefire talks collapsed after U.S. Vice President JD Vance abruptly cancelled his Pakistan trip, where he was set to lead negotiations. Wednesday brought a partial recovery, with the TSX adding roughly 0.4% to close at 33,955 , helped by gains in energy and mining stocks following President Trump's announcement of an indefinite ceasefire ex...

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Canada’s Population Growth and the National Bank of Canada’s Report

 

According to a report by the National Bank of Canada, Canada is caught in a “population trap” for the first time in modern history and needs to limit immigration to escape it. A population trap is when the population is growing so fast that all available savings are needed to maintain the existing capital-labour ratio, making any increase in living standards impossible. 

National Bank’s report joins the growing chorus of concern that the influx of newcomers over the past two years, many of whom are temporary workers or students, is too much for the economy to handle.

Canada’s population grew by 1.2 million in 2023, a “staggering” amount when you consider that the next biggest surge was when Newfoundland joined the nation in 1949. From a global perspective, Canada’s population growth of 3.2% last year was five times higher than the average of Organisation for Economic Co-operation and Development nations. 

The economists say that Canada currently lacks the infrastructure and capital stock to adequately absorb current population growth and improve its standard of living. The strain is most evident in housing, with National saying the shortfall has reached a record of only one housing start for every 4.2 people entering the working-age population. Government programs are underway to address this, but to meet demand and reduce housing inflation, Canada would need to double its housing construction capacity to about 700,000 starts a year.

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