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 The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) .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...
Key Highlights:
Fed’s Decision: The Federal Reserve announced its decision to keep interest rates steady, but with a twist. It expects to cut rates three times this year, providing a boost to investor confidence.
Reddit’s IPO: Social media giant Reddit (RDDT) made its public debut on the New York Stock Exchange (NYSE) today. Priced at $34 per share, the company is now valued at nearly $6.5 billion.
Market Rally: All three major indices – the Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 (GSPC) – closed at new highs. The S&P 500 surpassed the 5,200 level, while the tech-heavy Nasdaq Composite moved up 0.9%.
Inflation Concerns: Despite sticky inflation data, the Fed maintained its outlook for three rate cuts in 2024. Policymakers remain committed to their easing strategy.
Gold Soars: Gold prices (GC=F) jumped to a record above $2,200 an ounce, reflecting investors’ confidence in the Fed’s approach.
AI Growth and Beyond: While AI growth continues to boost tech stocks, other market drivers are likely to come into focus in the coming weeks.
Swiss National Bank’s Move: The Swiss National Bank surprised markets by lowering interest rates, signaling confidence that tightening has peaked in leading economies.
With the next Fed policy meeting scheduled for May, investors will closely monitor economic indicators and corporate developments. As Reddit joins the NYSE, and Micron (MU) shares surge, the market remains dynamic and full of opportunities.
Stay tuned for more updates as the stock market continues its upward trajectory.
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