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Weekly Market Snapshot: Records Everywhere as a Blowout Canadian Jobs Report Meets a Shock U.S. Loss

  August 8, 2026 A short, holiday-shortened week still managed to deliver record after record. The TSX, the S&P 500, the Nasdaq, and Europe's major indices all closed the week at or near all-time highs — even as Friday's jobs numbers told two very different stories on either side of the border. Here's everything that moved your money this week, and what to watch next. The Bottom Line The TSX capped its biggest weekly advance in about four months, closing Friday at a record 36,381.23 after Canada added a blowout 75,100 jobs in July (versus 17,800 expected). Wall Street also hit fresh records — but for the opposite reason: US employers unexpectedly cut 23,000 jobs, which markets read as reducing the odds of any further Fed rate hikes. Add in a fourth straight record close for European stocks, a wild swing in oil, and gold pushing toward US$4,400/oz, and it was a week where almost every major asset class ended up higher. 🇨🇦 Canada: TSX's Best Week Since April Canadia...
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Flash Freeze Warning: Brace for Sudden Temperature Plunge in Eastern Ontario and Quebec

 

Environment Canada has issued a flash freeze warning that’s set to send shivers down the spines of residents in eastern Ontario and nearly all of Quebec. If you were basking in the surprisingly warm temperatures on Tuesday, get ready for a meteorological rollercoaster.

What’s Happening?

  • A dramatic change in temperatures is expected on Wednesday as a sharp cold front sweeps through the region.
  • The warning extends from as far south as Kingston, Ontario, to as far north as Caniapiscau in Quebec’s Côte-Nord region.
  • By Wednesday night, Ottawa is predicted to plummet to a bone-chilling –13°C, with a chance of rain showers or flurries.
  • Environment Canada urges caution due to suddenly icy and slippery surfaces, including highways, roads, walkways, and parking lotsTake extra care when walking or driving in affected areas.

Record Heat and Frosty Reversal

  • On Tuesday, several Ontario communities, including Belleville, Kemptville, and Picton, shattered daily temperature records.
  • Ottawa is poised to break its own record by reaching a balmy high of 14°C before the impending flash freeze.
  • This year’s mild winter, which curtailed the opening of the Rideau Canal Skateway, is attributed to a mix of climate change and El Niño.
  • Let’s hope the skaters and walkers along the Rideau Canal enjoyed their brief 10 days of winter wonderland.


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