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 The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) .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...
As the earnings season reaches its midway point, Wall Street finds itself in a delicate balancing act. Here’s a snapshot of today’s market dynamics:
- S&P 500 (GSPC) futures edged up by less than 0.1% before the opening bell.
- Dow Jones Industrial Average (DJI) futures experienced a marginal decline, shedding less than 0.1%.
Investors are closely monitoring corporate results, but optimism for a March interest rate cut is waning. Recent data confirms the resilience of the U.S. economy, despite the Federal Reserve’s efforts to curb inflation through interest rate hikes. Notable highlights include:
- Strong Services Sector: A report on Monday revealed that U.S. services industries are growing faster than expected, reflecting economic strength.
- Labor Market Resilience: Friday’s robust jobs report indicated a still-strong labor market, despite ongoing layoffs.
Market sentiment suggests that the Fed’s projected interest rate cuts may be pushed back to June, rather than May. Traders are adjusting their expectations accordingl.
In equities trading, some key movers include:
- Tesla (TSLA): The electric car company continues to slide, losing over 2% in premarket trading. Concerns about recalls and future earnings weigh on investor confidence.
- FMC: The Philadelphia chemical maker saw a 14% premarket tumble after falling short of Wall Street expectations in sales and profit.
- Spotify (SPOT): The music streaming and podcast platform surged more than 6% after reporting stronger-than-expected subscriber growth, despite revenue missing analyst targets.
As we await earnings reports from heavyweights like CVS Health, The Walt Disney Co., and PepsiCo, the market remains cautiously optimistic. Stay tuned for further developments as the earnings season unfolds!
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