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5 Things to Know Today: Your Canadian Money Brief

  Wednesday, April 29, 2026 | moneysavings.ca/canadian-money-brief 1. The Bank of Canada Is Watching — And So Should You Markets are closely parsing every signal from the Bank of Canada ahead of its next rate announcement. With inflation holding stubbornly above target in key categories like shelter and groceries, economists are split on whether another cut is on the table or a longer hold is in store. If you're carrying variable-rate debt or sitting on a GIC renewal, now is the time to model both scenarios. What to do: Don't lock into a long-term rate product until after the next announcement. A few days of patience could save you thousands. 2. Spring Housing Market: More Listings, Less Panic After years of near-empty inventory, more Canadian sellers are finally listing — particularly in the Greater Toronto Area and Greater Vancouver. The uptick in supply is giving buyers breathing room they haven't seen since pre-pandemic times. That said, prices haven't mean...
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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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