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...
Wall Street recovered some of its losses on Thursday, a day after the Federal Reserve signaled that it is not planning to cut interest rates anytime soon.
The S&P 500 rose 0.4%, while the Dow Jones Industrial Average edged up 0.1%, following the worst single-day downturn since September on Wednesday.
The Fed left its main interest rate unchanged and said it does not expect to lower it “until it has gained greater confidence that inflation is moving sustainably toward” its 2% target.
Fed Chair Jerome Powell said the central bank needs more data to confirm that inflation is easing, despite recent signs of slowing wage growth and consumer spending.
“We’re not declaring victory at all,” Powell said. "We have confidence. It has been increasing, but we want to get greater confidence."
Investors were hoping for a more dovish tone from the Fed, as they worry about the impact of the coronavirus outbreak, trade tensions, and geopolitical risks on the global economy.
Some sectors, such as technology and health care, bounced back on Thursday, while others, such as energy and financials, remained under pressure.
Shares of Align Technology, the maker of Invisalign teeth straighteners, surged more than 12% after beating analysts’ expectations for sales and profit.
More economic data is expected on Friday, with the release of the monthly jobs report for January.
Comments
Post a Comment