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5 Things to Know Today: Key Money Headlines for Canadians

1. Spring Economic Update Lands Today Finance Minister François‑Philippe Champagne tables the 2026 Spring Economic Update this afternoon, outlining Ottawa’s latest fiscal outlook and new measures aimed at supporting Canadians amid global instability. 2. Fuel Excise Tax Temporarily Suspended Prime Minister Mark Carney has paused the federal excise tax on gas, diesel, and aviation fuel , offering short‑term relief as energy prices remain elevated due to geopolitical tensions.  3. Canada’s First Sovereign Wealth Fund Announced Carney has unveiled the Canada Strong Fund , the country’s first sovereign wealth fund, designed to finance major national infrastructure and economic‑building projects in partnership with the private sector.  4. CPP & OAS Payments Arrive Today New CPP and OAS payments are being issued today, including adjustments for seniors affected by recovery tax calculations, which are spread across monthly OAS payments.  5. Global Instability Conti...
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Stock Market Update: Retailers’ Holiday Numbers Impact Wall Street

 



Wall Street experienced a modest decline today as retailers unveiled their holiday season results. Investors closely monitored these figures, seeking insights into consumer sentiment and economic health. Here are the key highlights:

  1. Retail Earnings: Several major retailers reported their latest quarterly earnings. Among them:

    • Target: The retail giant exceeded expectations with a 58% increase in fourth-quarter profits. Cost-cutting measures and efficient inventory management contributed to this impressive performance. Target’s stock surged by 8.5% before the opening bell today.
    • Costco Wholesale, Gap, and Nordstrom also disclosed their holiday numbers, providing further context on consumer spending trends.

  2. Market Sentiment: Momentum in U.S. stocks has slowed after reaching record highs. Factors influencing market sentiment include:

    • Inflation: Signs of cooling inflation have prompted speculation about potential interest rate cuts.
    • Economic Resilience: Despite recession predictions, the U.S. economy remains resilient.

  3. Upcoming Events: This week holds critical events that could sway the market:

    • Fed Chair Jerome Powell’s Testimony: On Wednesday, Powell will testify before a House committee on monetary policy. His remarks may shed light on the Fed’s next move.
    • Jobs Report: Friday’s report will reveal the state of the U.S. job market.

  4. Global Markets: European indices rebounded midday, with Germany’s DAX, France’s CAC 40, and Britain’s FTSE 100 recovering from earlier losses.

As investors await further developments, Wall Street remains cautiously optimistic. Keep an eye on earnings reports and central bank communications for clues about the market’s direction.


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