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5 Things to Know Today: Gas Tax Holiday Extended to 2027, BoC Holds, TSX Rebounds

  September 3, 2026 A big one for your wallet just landed: Ottawa is keeping the gas tax break alive well past Labour Day. Here's what else moved markets and money in Canada today. 1. Gas tax holiday extended to January 31, 2027 The federal fuel excise tax break that was set to expire on Labour Day (Sept. 7) isn't going anywhere. Finance Minister François-Philippe Champagne confirmed the suspension of the 10-cent-per-litre gasoline excise tax and 4-cent-per-litre diesel tax will now run until January 31, 2027, before being phased back in at half-rate from Feb. 1 to March 31 and fully restored April 1. Ottawa first introduced the break in April to offset oil-price shocks tied to the Iran war. What it means for you: The scheduled Sept. 8 jump of 10–11 cents a litre is off the table for now. CAA pegged the national average at 172.9 cents/litre this week — budget around that level rather than the higher price many drivers had braced for. 2. Bank of Canada holds rate at 2.25% for a...
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Stocks Rebound After Tuesday’s Sell-Off: A Resilient Recovery

 

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.


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