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5 Money Things Every Canadian Should Know Today — April 24, 2026

                                               5 Money Things Every Canadian Should Know Today — April 24, 2026 URL Slug: canadian-money-brief-april-24-2026 Description: Fuel tax relief at the pumps, oil price shock fears, Canada Post's record loss, TSX jitters, and the tax deadline — your 5-minute money briefing. Labels: Economy , Markets , Personal Finance , Energy , Federal Budget , Taxes , Canada Post Your quick Canadian money briefing — five stories, plain language, no filler. 1. Cheaper Gas — For Now If you filled up this week, you may have noticed a few extra cents in your pocket. Ottawa's temporary federal fuel excise tax suspension kicked in on April 20 and runs through September 7. The result: roughly 10 cents per litre saved on gasoline and 4 cents per litre on diesel . Prime Minister Mark Carney framed it as relief for trucker...
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S&P/TSX Hits New Highs: Oil Surge and U.S. Markets Rally

 


Toronto, Canada witnessed a bullish surge as the S&P/TSX composite index soared nearly 200 points, closing at 21,552.35. The driving force behind this remarkable climb? Energy stocks, fueled by rising oil prices. Meanwhile, across the border, U.S. markets celebrated fresh record highs.

Key Takeaways:

  1. Oil’s Resurgence: The TSX energy index flexed its muscles, rising almost 2%. Oil briefly flirted with US$80 per barrel, a level unseen since early November. Geopolitical tensions and anticipation of potential OPEC cuts contributed to this bullish momentum.

  2. U.S. Market Records:

    • The Dow Jones industrial average gained 90.99 points, closing at 39,087.38.
    • The S&P 500 index surged 40.81 points, reaching 5,137.08.
    • The Nasdaq composite continued its ascent, adding 183.02 points to hit 16,274.94. Artificial intelligence remained the tech sector’s driving force.
    • Dell Technologies stole the spotlight, leaping nearly 32% after impressive earnings.

  3. Interest Rate Expectations:

    • Weaker-than-expected U.S. economic data bolstered expectations for summer interest rate cuts.
    • Fed Governor Christopher Waller hinted at a shift in the central bank’s holdings toward short-term Treasuries.

  4. Market Resilience:

    • Despite mixed economic data, market bulls remain optimistic.
    • Technical and fundamental factors support the rally, but caution is warranted due to elevated valuations and universal optimism.

  5. Earnings Triumph:

    • Fourth-quarter earnings exceeded expectations, with growth nearing 8%.
    • Approximately 76% of S&P 500 firms surprised to the upside, reinforcing confidence in equities.

  6. AI-Driven Rally:

    • Wall Street strategists scramble to keep pace with the stock market’s artificial intelligence frenzy.
    • Five major firms raised their S&P 500 forecasts for 2024.
    • The index’s strong start—up over 7%—follows a remarkable 24% gain in 2023.

  7. Historical Perspective:

    • Consecutive monthly gains signal a promising year ahead.
    • Since 1950, when the index finished higher in both January and February, full-year returns averaged 19.8%—with positive outcomes in 27 out of 28 instances.

In summary, the S&P/TSX’s bullish trajectory, driven by oil and tech, underscores unwavering optimism amid macroeconomic uncertainties. Investors eagerly await further developments in monetary policy and corporate performance.


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