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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Wall Street’s Momentum Cools After Its Latest Record-Setting Week

 

Wall Street, fresh from its recent record highs, has taken a step back as the new trading week begins. The S&P 500 dipped by 15.99 points, representing a 0.3% decline, settling at 5,218.19 in a subdued day of trading. Meanwhile, the Dow Jones Industrial Average experienced a 162.26-point drop (equivalent to 0.4%) to reach 39,313.64. The Nasdaq composite also retreated, losing 44.35 points (or 0.3%) to close at 16,384.47.

This cooling momentum comes after a remarkable run for Wall Street, which had been scaling new heights. Investors are closely monitoring the Federal Reserve for any signals regarding potential interest rate cuts. The recent surge in the U.S. dollar against the Japanese yen has also raised concerns, prompting speculation about market intervention. The dollar’s ascent to nearly 152 yen—a significant jump from slightly above 130 yen a year ago—has drawn attention. Meanwhile, the euro stands at $1.0818, up from $1.0810.

In Asia, shares exhibited mixed performance. Japan’s Nikkei 225 declined by 1.2%, reaching 40,414.12, as investors booked profits following the index’s recent record-breaking highs. Hong Kong’s Hang Seng edged up by 0.2% to 16,535.89, while China’s Shanghai Composite gained 0.3%, closing at 3,056.52. The Chinese yuan (renminbi) weakened to a four-month low of 7.2282 against the U.S. dollar. Australia’s S&P/ASX 200 bucked the trend, rising by 0.5% to 7,811.90. South Korea’s Kospi experienced a slight decline, losing 0.2% to settle at 2,743.04.

As the week unfolds, investors remain watchful for further cues from the Federal Reserve and potential market developments. Wall Street’s recent retreat serves as a reminder that even record-setting rallies can encounter moments of moderation.

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