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5 Things to Know Today: BoC Decision Looms, TSX Sits Near Record Highs

  Saturday, July 11, 2026 Here's what Canadians need to know heading into the week, as markets brace for the Bank of Canada's rate decision and the CUSMA trade file keeps grinding along. 1. The Bank of Canada decides Wednesday, and a hold is all but locked in The Bank of Canada's next rate announcement lands July 15, and virtually every economist on Bay Street expects the overnight rate to stay parked at 2.25% — what would be a sixth straight pause. A stronger-than-expected June jobs report has taken away any urgency to cut, while cooling inflation and lingering trade uncertainty argue against a hike. Expect the accompanying statement to lean on familiar language: steady as she goes. 2. June's jobs report beat expectations, and the jobless rate ticked down Statistics Canada reported employers added roughly 18,000 jobs in June, ahead of forecasts and building on May's much larger 88,000-job gain. The unemployment rate slipped to 6.5%, back to where it stood in Januar...
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Stock Market Update: S&P 500 Turns Green Ahead of Nvidia Earnings

 

In a late-day rally, U.S. stocks managed to flip into positive territory as investors eagerly awaited the high-stakes earnings report from artificial intelligence (AI) powerhouse Nvidia (NVDA). Here’s a snapshot of today’s market action:

  1. S&P 500: The broad-market index edged up more than 0.1%, signaling a cautious optimism among traders. The release of Federal Reserve minutes, which emphasized the central bank’s commitment to avoiding premature interest rate cuts, also played a role in the market’s sentiment.
  1. Dow Jones Industrial Average: The Dow gained about 0.1%, adding nearly 50 points. Investors closely monitored Nvidia’s performance, considering it a bellwether for the AI sector and a potential turning point for overall stock market trends
  1. Nasdaq Composite: The tech-heavy Nasdaq Composite lagged behind, slipping 0.3% following Tuesday’s declines. Nvidia’s shares had dipped almost 3% the previous day, marking their worst performance since October 17.

Nvidia’s Earnings: A Critical Moment

Expectations are running high for Nvidia’s fourth-quarter results. As one of the megacap companies driving recent stock market gains, Nvidia’s performance is closely watched by investors. Its AI-driven revenue growth serves as a barometer for the broader tech industry.

However, the stakes are even higher this time. Nvidia’s report could potentially shape market sentiment and influence trading decisions. Hedge funds have been adjusting their holdings in response to mixed growth prospects among the so-called “Magnificent Seven” stocks, of which Nvidia is a key player.

Other Market Movers

  • Palo Alto Networks (PANW): Shares of this cybersecurity provider plummeted over 28% after it cut its annual revenue forecast. Concerns about a tech spending pullback weighed on investor sentiment.
  • Walgreens (WBA): The pharmacy giant lost its spot on the blue-chip Dow index to Amazon (AMZN), causing Walgreens shares to slide by as much as 3%.

Fed Minutes and Interest Rates

The Federal Reserve’s January meeting minutes highlighted the risks of moving too quickly in easing interest rates. Recent economic data has led to uncertainty about the timing of rate cuts, with June being the most probable window.

As the market awaits Nvidia’s earnings release after the bell, investors remain on edge. Will Nvidia’s results validate the AI trade’s strength, or will they signal caution? Only time will tell.

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