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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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Wall Street Nears Historic Milestone: S&P 500 Approaches 5,000 Mark

 


The S&P 500 index is on the cusp of a significant achievement, threatening to breach the 5,000 level for the first time in its history. As the trading day unfolded, major players like Ford Motor and Chipotle Mexican Grill propelled the index upward, following their latest earnings reports.

The S&P 500, a broad measure of the U.S. stock market, has been steadily ascending, fueled by robust corporate performance and investor optimism. At the time of writing, it stood at 4,998, tantalizingly close to the coveted 5,000 mark. If it successfully crosses this threshold, it will mark a momentous milestone for investors and financial markets alike.

Ford Motor, the iconic American automaker, reported strong earnings, buoyed by robust vehicle sales and strategic initiatives. Meanwhile, Chipotle Mexican Grill, known for its flavorful burritos and bowls, also delivered impressive results. These companies’ positive performance has contributed significantly to the S&P 500’s ascent.

As Wall Street watches with bated breath, market analysts and investors are keenly observing the index’s movements. Will it break through the 5,000 barrier and set a new record? Only time will tell. For now, the financial world remains abuzz with anticipation, awaiting this potential historic feat.



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