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Weekly Market Snapshot: Mideast Tensions and Chip Selloff Rattle Global Markets (July 13–17)

  Week of July 13–17, 2026 It was a rough week to be a tech investor and a good week to own oil. Escalating conflict between the US and Iran pushed crude sharply higher and rattled global markets, while a fresh wave of selling in semiconductor stocks dragged US and Asian indices lower. Closer to home, the Bank of Canada held its key rate steady, and the TSX—less exposed to chipmakers—held up noticeably better than its US and Asian peers. Here’s how the week broke down across every major market, and what it means for your wallet. 🇨🇦 Canada: TSX Day Close Change Mon, Jul 13 35,252.72 -0.15% Wed, Jul 15 (BoC day) 35,416.20 +0.27% Thu, Jul 16 35,340.15 -0.21% Fri, Jul 17 ~35,262 -0.22% Week total (Fri-to-Fri) — ~flat (about -0.1%) The TSX had a choppy but ultimately quiet week compared with its global peers. Monday's session opened with the Strait of Hormuz blockade headlines and closed lower. Wednesday brought a relief rally after the Bank of Canada's rate hold, with financials ...
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Canadians Rally to Boycott Loblaw-Owned Stores Amid Rising Food Prices

 

In a growing movement, deeply unhappy grocery shoppers across Canada are planning to boycott Loblaw-owned stores in May. The frustration stems from rising food prices and profits, which have put major grocers under political and public scrutiny. Here’s what you need to know about this grassroots effort:

  1. The Boycott’s Origins:

    • The boycott gained momentum online, with thousands of shoppers vowing to take their business elsewhere. A Reddit group called r/loblawsisoutofcontrol, created by mental health and addictions worker Emily Johnson, became a hub for people seeking to voice their complaints about Loblaw and other grocers. The group now boasts approximately 56,000 members.
    • While the exact number of participants in the boycott remains uncertain, the Reddit page is filled with posts from individuals who plan to join or have already started boycotting.

  2. Demands and Goals:

    • The boycott organizers have specific demands for Loblaw. These include:
      • Signing a Grocery Code of Conduct: Shoppers want Loblaw to commit to fair practices and transparent pricing.
      • Affordable Pricing: The primary aim is to have a financial impact on Loblaw, the largest Canadian grocer.
    • Beyond financial repercussions, the boycott also aims to educate consumers and draw government attention to the issue.

  3. Local Alternatives:

    • Mississauga resident and community advocate Rahul Mehta is among those fully boycotting Loblaw-owned stores. He hopes the boycott encourages shoppers to explore local, independent grocers rather than simply switching to other large chains.
    • Mehta believes this movement could spark renewed interest in supporting local businesses and demanding real choices beyond the usual Metro vs. Loblaws options.

  4. Loblaw’s Response:

    • While it’s unlikely that Loblaw will fundamentally change its business model due to the boycott, the company is paying attention. Recently, Loblaw reversed a controversial decision related to discounts on products nearing their best-before date after facing public backlash.
    • Loblaw’s president and CEO, Per Bank, acknowledges the shifting behaviors of consumers. The grocer is responding by introducing new promotions and expanding its discount offerings to retain customers.

In summary, the boycott reflects Canadians’ frustration with the grocery industry’s practices. Whether it leads to lasting change remains to be seen, but it highlights the power of collective action in addressing consumer concerns.

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