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5 Things to Know Today: Oil Surges, Tariffs Land Tomorrow, Your Gas Tax Break Survives

  Monday, September 7, 2026 — Labour Day | Canadian Money Brief Markets are closed for the holiday, but the week ahead is loaded. Here are five things worth knowing before you head back to your desk tomorrow. 1. Oil Hits a Five-Week High as the Iran Conflict Escalates Crude climbed to $92.06 US/barrel on Saturday — up 17.75% over the past month and nearly 48% year over year — after Iran and the United States exchanged missile strikes this week. Israel's defence minister has threatened "crippling" attacks on Iran's energy infrastructure, the EU has formally joined the US-led sanctions campaign, and US Vice President JD Vance said Washington won't hold peace talks until Iran stops targeting ships in the Strait of Hormuz. What it means for you: Even with the federal gas tax break extended (see #4), pump prices track the price of crude itself. If your tank's getting low, filling up early this week may beat whatever the Strait of Hormuz situation does to prices by...
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Stock Market Bounces Back After Tuesday’s Slide


 U.S. stocks are showing resilience today, recovering some of the ground lost during Tuesday’s tumultuous trading session. After a sharp 1.4% decline on Tuesday, the S&P 500 is now 0.5% higher in early trading on Wall Street.

Investors were jolted by a hotter-than-expected report on inflation, which led to concerns that the Federal Reserve might maintain high interest rates for longer than anticipated. The delay in forecasts for interest rate cuts has been a significant factor affecting market sentiment. Expectations of rate cuts had previously fueled the stock market’s recent record-setting rally.

Despite the recent volatility, several companies are making headlines today:

  1. DaVita: The health care company reported stronger-than-expected profits and revenue for the latest quarter, propelling its stock up by 8.2% in the S&P 500.
  2. Lyft: After a wild ride in off-hours trading driven by a typo in its earnings report, Lyft shares surged by 32.8%. The ride-hailing company corrected the typo, but the initial confusion led to a significant after-hours boost.
  3. Uber Technologies: The ride-hailing giant’s board authorized a program to buy back up to $7 billion of its stock, a move that investors tend to favor for its direct impact on per-share profits.

A calmer bond market is also contributing to the steadier stock performance. Treasury yields have eased after their sharp rise, with the 10-year Treasury yield currently at 4.26%, down from Tuesday’s level of 4.32%. However, it remains significantly higher than the start of this month’s 3.85%.

While uncertainties persist, today’s recovery suggests that investors are cautiously navigating the complex landscape of interest rates and economic growth. As always, the stock market remains a dynamic arena, influenced by a multitude of factors. Stay tuned for further developments as we continue to monitor the financial landscape.


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