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5 Things to Know Today: Retaliation Tariffs Hit, Oil Spikes on Saudi Strikes

  Tuesday, September 8, 2026 — Your morning rundown of the Canadian financial news that actually affects your wallet. 1. Canada's $27.6B Retaliation Tariffs Take Effect At 12:01 a.m. today, Canada's countermeasures against more than 700 U.S. products came into force, matching Washington's August 22 tariffs dollar-for-dollar. Tariffs on American steel and aluminum double to 50%, while new levies of 15% to 50% now apply to dairy, appliances, agricultural equipment, pulp and paper, and electronics. A $7.5-billion support package is rolling out for affected Canadian businesses. What it means for you: U.S.-made appliances (fridges, freezers, washers, dryers, ranges) now carry a 25% tariff, and cheese, whey, and milk powder imports jump 25%–50%. Shopping for a new appliance or specialty dairy product? Expect price increases to show up at retail over the coming weeks. 2. Oil Surges to ~$99 on Overnight Saudi Strikes Overnight strikes on Saudi energy facilities pushed Brent crude...
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Nasdaq Lags as Markets Take a Breather


In today’s trading session, US stocks reversed gains late in the day, signaling a pause in the record-setting run that has characterized Wall Street during the first quarter of 2024. Here are the key highlights:

  1. Nasdaq Composite: The tech-heavy Nasdaq Composite, which had been on track for a record close, dipped approximately 0.4% as the session concluded. Tech stocks faced headwinds, contributing to the overall decline.

  2. S&P 500: The broader S&P 500 index also retreated, falling nearly 0.3%. Investors closely monitored economic data releases, including durable goods orders and the S&P CoreLogic Case-Shiller National Home Price Index.

  3. Durable Goods Orders: In February, durable goods orders rebounded by 1.4%, driven by increases in transportation equipment and machinery orders. This positive data reflects economic resilience.

  4. Home Price Index: The S&P CoreLogic Case-Shiller National Home Price Index rose 6% in January compared to the previous year, marking the highest annual increase since 2022.

  5. Consumer Confidence: The Conference Board’s Consumer Confidence Index remained relatively stable at 104.7 for March. However, the “Expectations Index,” which gauges consumers’ short-term outlook, dipped to 73.8, potentially signaling a future economic downturn.

  6. Upcoming Event: All eyes are on Friday’s release of the Personal Consumption Expenditures Price Index (PCE), a crucial indicator of inflation. Investors eagerly await insights into “core” PCE growth, which the Federal Reserve closely monitors.

  7. Trump Media & Technology Group Corp.: Former President Donald Trump’s social media company made its Wall Street debut after merging with Digital World Acquisition Corp. Shares of Trump Media & Technology Group Corp. (DJT) surged, finishing the day up 16%.

As the week progresses, keep an eye on economic indicators and corporate developments. The stock market remains dynamic, and investors should stay informed to navigate these fluctuations effectively. 

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