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...
On January 29, 2024, a drone strike killed three US soldiers in the Middle East, escalating regional conflicts and irritating oil markets. The attack’s near-term impact on oil supply is expected to be limited, but the situation is still volatile. Prosper Trading Academy CEO Scott Bauer and Eurasia Group Middle East Practice Head Ayham Kamel warn that this is not going to be a comfortable few weeks.
The oil market is already on its heels due to weak demand. Though geopolitical tensions could move prices, the impact appears muted as risks are already priced in. Bauer sees crude oil in a bearish macro position and is enthusiastic about the current volatility for traders, suggesting investors look to sell.
In conclusion, the drone strike has created an uncomfortable situation for the oil market. While the attack’s near-term impact on oil supply is expected to be limited, the situation is still volatile and could lead to further disruptions in the future.
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