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...
In a display of resilience, the S&P 500 closed marginally higher after a session marked by volatility, as investors navigated the dual forces of climbing Treasury yields and encouraging corporate earnings, particularly from tech behemoths.
- Treasury Yields Climb: An auction of $70 billion in five-year U.S. Treasury notes drove yields higher, influencing equity markets. The 10-year Treasury note rose to 4.6459%.
- Tech Giants’ Earnings: Investors’ attention was captured by earnings reports from major technology companies. Meta Platforms saw a dip in after-hours trading, while Microsoft and Alphabet are poised to report later in the week.
- Tesla’s Surge: Tesla’s stock leapt by 12% as plans to increase production and introduce more affordable models outweighed its weaker quarterly results.
- Economic Indicators Awaited: Markets are now looking ahead to the first quarter GDP data and March’s personal consumption expenditures, which could signal the Fed’s interest rate trajectory.
Investors remain cautious yet optimistic as they parse through the latest financial data, seeking signs of stability in a fluctuating economic landscape.
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