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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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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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