Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
House Approves $95 Billion Foreign Aid Package for Ukraine and Israel
In a significant move, the U.S. House of Representatives has approved a $95 billion package of foreign aid aimed at supporting Ukraine, Israel, and other American allies. The decision comes after months of political turmoil on Capitol Hill, during which congressional leaders worked to overcome opposition from hard-right conservatives.
Aid for Ukraine
The package includes crucial assistance for Ukraine, a country facing
ongoing conflict with Russia. The aid is intended to bolster Ukraine’s defense
capabilities, enhance security, and promote stability in the region. As
tensions persist in Eastern Europe, this allocation underscores the United
States’ commitment to supporting its allies.
Support for Israel
Israel, another key ally, will also benefit from the approved aid
package. The funds will contribute to Israel’s security needs, strengthen
military cooperation, and reinforce diplomatic ties. Given the complex
geopolitical landscape in the Middle East, this assistance is vital for
maintaining stability and peace in the region.
Bipartisan Efforts
Despite political divisions, congressional leaders managed to push aside
opposition and secure the necessary votes to pass the bill. The package will
now proceed to the Senate for further consideration. Bipartisan cooperation
played a crucial role in ensuring that the aid reaches its intended recipients
promptly.
In a statement, House Speaker Mike Johnson emphasized that “the House has
worked its will.” The approval of this aid package reflects the commitment of
the U.S. government to stand by its allies during challenging times.
As the Senate takes up the legislation, the international community
watches closely, recognizing the importance of these funds in promoting global
security and stability.
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