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...
On Wednesday, US stocks staged a remarkable comeback, recovering from the previous day’s sell-off triggered by hotter-than-expected inflation data. Investors witnessed a swift turnaround as major indices regained their footing.
Key Highlights
- Dow Jones Industrial Average (DJI): The blue-chip index rebounded by 0.4%, reclaiming ground after a 500-point drop—its worst performance since March 2022
- S&P 500 (GSPC): The broader market index surged by nearly 1%, demonstrating resilience in the face of recent volatility.
- Nasdaq Composite (IXIC): Tech stocks also participated in the recovery, climbing approximately 1.3%.
The surprise consumer inflation report had initially spooked the market, but calm is gradually settling in. Investors are now adjusting their expectations regarding interest rate cuts. Chicago Fed President Austan Goolsbee emphasized that one inflation report should not cause undue panic, and the underlying trend still points to inflation approaching the Federal Reserve’s 2% target.
Lyft (LYFT), the ride-hailing giant, experienced a wild ride of its own. After an initial 67% surge following a financial update, the stock corrected an error in its statement, ultimately closing up a more modest 35% during Wednesday’s trading session.
As the market recalibrates, investors are closely monitoring economic indicators and central bank policies. The path forward remains uncertain, but the resilience displayed by stocks in the face of adversity is a testament to their enduring appeal.
Comments
Post a Comment