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Canadian Money Brief: 5 Things to Know Today — May 18, 2026

  A quick scan of the five stories shaping your wallet right now — from the Bank of Canada's next big decision to your mortgage renewal and a brand-new federal agency hunting financial criminals. 1 Bank of Canada Rate Holds at 2.25% — Next Decision Is June 10 The Bank of Canada kept its overnight policy rate steady at 2.25% at its April 29 meeting, citing a rise in energy-driven inflation and ongoing uncertainty from U.S. tariffs. Governing Council held firm while acknowledging a rate hike could become necessary if oil-linked price pressures prove persistent. The next announcement lands on Wednesday, June 10, 2026 — mark your calendar. Why it matters: Your variable-rate mortgage, HELOC, and lines of credit are directly tied to this rate. With bank prime rates sitting at 4.45%, every meeting counts. 2 Markets TSX Slips Below 34,000 as Bond Yields Spike The S&P/TSX Composite Index finished last week down close to 2%, sliding under the 34,000 mark. A global bond market selloff...
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Stock Market Update: S&P 500 Targets 5,000 Amid Earnings Momentum

 

Wall Street is poised to wrap up another week on a positive note, with the S&P 500 aiming for a significant milestone: 5,000 points. If achieved, this would mark the first time the index has closed at such heights. Let’s dive into the key highlights driving the market:

Corporate earnings have been the driving force behind this week’s gains. Notable winners include:

  1. Cloudfare: The cloud services provider surged more than 24% after beating Wall Street’s sales and profit forecasts. Its robust outlook for 2024 propelled the stock to new heights.

  2. Expedia: Despite beating sales and profit targets, the online travel booking company faced a premarket decline of 15.6%. The announcement of CEO Peter Kern’s replacement added to the volatility.

  3. Take-Two Interactive: The publisher of popular video games like “Grand Theft Auto” stumbled, missing sales and profit targets. The company also revised its outlook downward.

Global Market Snapshot

  • Asia: Trading was mixed in Asia due to the Lunar New Year holiday. Tokyo’s market ended slightly higher, touching a 34-year high earlier in the day. The Bank of Japan’s commitment to its monetary policy supported investor sentiment.

  • Europe: Germany’s DAX and France’s CAC 40 remained flat at midday, while Britain’s FTSE 100 ticked up 0.1%.

  • China: Markets in mainland China were closed, and Hong Kong had a half-day session, with the Hang Seng shedding 0.8%. China’s securities regulator took measures to stabilize financial markets.

  • Australia: The S&P/ASX 200 added nearly 0.1%.

Commodities and Currency

  • Crude Oil: Benchmark U.S. crude lost 16 cents to $76.06 a barrel, while Brent crude declined 25 cents to $81.38 a barrel.

  • Currency: The U.S. dollar weakened against the Japanese yen (149.17 JPY) and the euro (1.0789 EUR).

  • Bitcoin: The cryptocurrency surged 4.6%, reaching $47,000 for the first time in nearly two years.

In summary, Wall Street’s upward trajectory continues, fueled by strong earnings reports. As investors keep an eye on the S&P 500’s march toward 5,000, the market remains dynamic and full of opportunities.


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