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5 Things to Know Today: 3 Days to the Tariff Deadline

  August 16, 2026 Ottawa and Washington are down to the wire on a trade deal, the TSX just wrapped its best week in months, and Statistics Canada drops a report tomorrow that could shape your mortgage rate. Here's what's moving your money today. 1. The tariff deadline is 3 days out — and there's still no deal Wednesday, August 19 is when Washington's threatened 50% tariffs on roughly $20 billion of Canadian goods — autos, alcohol, and dairy — are set to kick in. Trade Minister Dominic LeBlanc and chief negotiator Janice Charette have met U.S. Trade Representative Jamieson Greer four times in three weeks, and a Canadian government source told Reuters this week that talks are "progressing well" and that Washington also wants a deal before the deadline. Reports suggest Ottawa is weighing concessions — dropping its retaliatory auto tariffs, easing provincial bans on U.S. alcohol, and adjusting dairy quotas — in exchange for the U.S. backing off. What it means for ...
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Markets Rally: S&P 500 Hits Record High Amid Recovery






On Thursday, the S&P/TSX composite index surged 333.29 points, closing at 21,222.69, marking a 1.6% gain. The energy sector led the charge, propelling Canada’s main stock index to new heights. But it wasn’t just the Great White North celebrating; across the border, U.S. markets also joined the party.

The S&P 500, a bellwether for American equities, etched a fresh all-time high. In New York, the Dow Jones industrial average climbed 348.85 points, reaching 38,773.12. Meanwhile, the tech-heavy Nasdaq composite danced upward by 47.03 points, settling at 15,906.17.

What’s fueling this market resurgence? Mixed messages from inflation readings have been playing a game of tug-of-war with investor sentiment. Earlier this week, hotter-than-expected U.S. CPI numbers triggered a selloff, but the subsequent days saw a remarkable recovery. Kevin Burkett, portfolio manager at Victoria-based Burkett Asset Management, explains, “The numbers themselves aren’t bad. I think that the issue is people’s expectations, in particular at the end of December, had become so aligned to this view that we would see imminent and steep rate cuts.”

However, Burkett tempers expectations. “Right now, there’s very little chance that either the Bank of Canada or the U.S. Federal Reserve will start cutting interest rates in March,” he asserts. The specter of stubbornly elevated inflation looms large, making rate cuts a precarious proposition.

Recent earnings reports in Canada underscore the divergence between companies. While Manulife soared nearly nine percent after reporting robust earnings, Canadian Tire grappled with tougher economic conditions and softer consumer spending. Their stock price remained relatively stable.

As the markets sway, the Canadian dollar dances at 74.11 cents US, and commodities play their part. The April crude oil contract surged US$1.23, settling at US$77.59 per barrel. Meanwhile, gold glimmered, with the April gold contract adding US$10.60, reaching US$2,014.90 per ounce. Copper, too, caught the bullish wave, climbing six cents to US$3.76 per pound.

In this financial tango, investors watch closely, balancing optimism with caution. The rhythm of recovery continues, and the markets sway to their own beat.


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