Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
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:
- 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.
- 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.
- 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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