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TSX Reopens to Wall Street Records as Oil Swings on Fresh Hormuz Attack Reports

  Tuesday, August 4, 2026 The TSX is back in session today after Monday's Civic Holiday closure, and it's rejoining a market that moved a lot without it. Wall Street ripped to fresh record highs Monday on a wave of Big Tech buying and a sharp drop in oil prices — only for oil to start climbing again overnight on fresh reports of an attack in the Strait of Hormuz. Here's where every major market stands as trading gets underway. 🇨🇦 TSX: Back in Session After the Holiday The Toronto Stock Exchange and Montreal Exchange were closed Monday for the Civic Holiday and resume regular trading today. The TSX's last close, Friday, July 31, left the S&P/TSX Composite at 35,226.14 , down 0.79% on the day but essentially flat over the prior week. With Wall Street posting a broad, tech-led rally in the interim, Canadian markets open today with some catching up to do — though a firmer oil price could complicate that story for energy-heavy TSX names. 🇺🇸 US Markets: Record Close, ...
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Canadian Bank Fees: A Costly Affair

 

In a recent eye-opening report by North Economics, it was revealed that Canadians are paying over $7.7 billion annually in ‘excess’ bank fees. This staggering figure has sparked concern as the federal government is already taking steps to mitigate bank fees.

The Alberta-based consultancy firm’s analysis showed that the fees charged by Canada’s Big Five banks—RBC, TD, BMO, CIBC, and Scotiabank—are significantly higher than those in the U.K. and Australia. The report highlights the disparity in charges for everyday banking services, including monthly account fees, non-sufficient funds, overdrafts, and ATM usage at other banks.

Alain de Bossart, the managing director of North Economics, compared the retail banking profits to deposits ratio of 2022 between Canadian and British banks. The findings suggest that the Big Five banks in Canada had an ‘excess’ income of $7.73 billion, which translates to roughly $250 per Canadian.

The Canadian Bankers Association responded by emphasizing the value and accessibility provided by the competitive banking system in Canada. They also mentioned that a significant percentage of Canadians do not pay any account fees.

This report has intensified the dialogue on bank fees in Canada, with many calling for a more consumer-friendly approach that aligns with global standards.

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