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5 Things to Know Today: TSX Hits Record High as Oil Crashes Below $80

  August 5, 2026 1. Gas prices are set to drop again Oil cratered to around $80 a barrel (Brent) today after President Trump called off a planned strike on Iran, easing fears of a Strait of Hormuz disruption. That's a sharp drop from levels above $95-100 just two weeks ago. What it means for you: Expect pump prices to keep sliding over the next few days as the drop works its way through supply chains. Worth holding off on a fill-up if you can. 2. The TSX just hit an all-time high Toronto's benchmark index jumped 1.63% to close at 35,801.59, a fresh record, riding the same wave of Middle East de-escalation and strong US earnings from companies like Palantir and Caterpillar. What it means for you: If you hold Canadian equity funds in your RRSP or TFSA, today's close is good news — but records like this are also a natural point to check you haven't drifted too heavily into any one sector. 3. The loonie is holding steady near 1.41 USD/CAD sat around 1.4072 today, little c...
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Geopolitical Tensions and Rate Warnings Trigger Sharp Decline in Asian Stocks

The recent events have significantly affected Asian stock markets. Here are some key points:

  1. Iran-Israel Escalation: Reports of Israeli strikes on Iran have heightened concerns over geopolitical conditions in the Middle East. The situation escalated after explosions were reported across Iran, with some near nuclear facilities in Isfahan. This development has impacted risk appetite and contributed to the market decline.

  2. Persistent Rate Warnings: Ongoing warnings about U.S. interest rates have also played a role. Investors are closely monitoring rate decisions, which can influence market sentiment and investment strategies.

  3. Tech Stocks Hit Hard: Technology and chipmaking stocks faced steep losses. Taiwan Semiconductor Manufacturing Corp (TSMC), a major player in the chip industry, scaled back its expansion outlook for this year. Other tech giants like SK Hynix, Samsung Electronics, Advantest Corp., and Tokyo Electron also experienced significant declines.

  4. Regional Impact: Japanese stocks (Nikkei 225 and TOPIX) were hit the hardest, followed by Australia’s ASX 200 and South Korea’s KOSPI. China’s markets (Shanghai Shenzhen CSI 300 and Shanghai Composite) saw limited losses due to optimism over stimulus measures. Hong Kong’s Hang Seng index also declined.

In summary, the combination of geopolitical tensions and economic uncertainties has led to a sharp decline in Asian stocks. Investors are closely monitoring developments and adjusting their portfolios accordingly.

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