Thursday, July 9, 2026 Every July, a wave of federal benefit payments resets for the new benefit year — and 2026 brings one of the biggest shifts in years. Between a permanent 25% boost to the old GST/HST credit, a fresh Canada Child Benefit increase, and the largest quarterly OAS bump of the year, millions of Canadian households will see different numbers land in their accounts this month. Here's what actually changed, and what to check in your own CRA account. The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) . It's not a new program from scratch — it runs on the same CRA infrastructure and eligibility rules — but the payment amounts are 25% higher, and that increase is locked in for five years. The first CGEB payment went out on July 3, 2026. Under the new structure: A single individual with no children can receive up to roughly $679 per year (about $170 per quart...
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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