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5 Things to Know Today: Oil Surges, Tariffs Land Tomorrow, Your Gas Tax Break Survives

  Monday, September 7, 2026 — Labour Day | Canadian Money Brief Markets are closed for the holiday, but the week ahead is loaded. Here are five things worth knowing before you head back to your desk tomorrow. 1. Oil Hits a Five-Week High as the Iran Conflict Escalates Crude climbed to $92.06 US/barrel on Saturday — up 17.75% over the past month and nearly 48% year over year — after Iran and the United States exchanged missile strikes this week. Israel's defence minister has threatened "crippling" attacks on Iran's energy infrastructure, the EU has formally joined the US-led sanctions campaign, and US Vice President JD Vance said Washington won't hold peace talks until Iran stops targeting ships in the Strait of Hormuz. What it means for you: Even with the federal gas tax break extended (see #4), pump prices track the price of crude itself. If your tank's getting low, filling up early this week may beat whatever the Strait of Hormuz situation does to prices by...
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Stock Market Today: Tokyo’s Nikkei Leads Asian Gains Following Wall Street Rally

 


World shares advanced today, with Asian markets tracking Wall Street’s rally. The standout performer was Tokyo’s benchmark Nikkei 225 index, which surged 2.4%. This impressive gain was powered by strong performances from semiconductor makers. Here are the key highlights:

  1. Tokyo’s Nikkei 225: The Japanese stock market index gained more than 900 points, closing at 38,460.08, its highest level in a month. Notably, shares in computer chip companies like Renesas Electronics Corp. (up 10.5%) and Tokyo Electronic (up 7.1%) contributed significantly to this rally.

  2. Greater China: Shares in Greater China also rallied. The Hang Seng in Hong Kong added 2%, while the Hang Seng Tech Index gained 3.1%. Chinese artificial intelligence company Sensetime Group saw its shares surge by 31.2% after releasing the latest version of its SenseNova generative AI model.

  3. South Korea: The Kospi index in South Korea rose by 1.9%, led by a 3.4% gain in heavyweight Samsung Electronics.

  4. Australia: Australia’s S&P/ASX 200 index edged up by 0.1% following the release of a fifth consecutive quarter of decelerating inflation. The consumer price index for the first quarter eased to 3.6% from the previous 4.1%.

  5. U.S. Markets: On Tuesday, the S&P 500 climbed 1.2% to 5,070.55, pulling further out of the hole created by a six-day losing streak. The Dow Jones Industrial Average rose 0.7% to 38,503.69, and the Nasdaq composite jumped 1.6% to 15,696.64. A weaker-than-expected report on U.S. business activity helped support the market, which remains in an awkward phase.

The hope on Wall Street is for the economy to avoid a severe recession but not to stay so hot that it keeps upward pressure on inflation. A preliminary report from S&P Global seemed to hit that sweet spot, and Treasury yields eased in the bond market Earnings reports also played a significant role in trading, with several companies exceeding analysts’ expectations. For instance, GE Aerospace saw an 8.3% increase after raising its profit forecast for the full year and beating first-quarter earnings expectations.

In summary, global shares are riding the momentum of Wall Street’s rally, and Tokyo’s Nikkei 225 stands out as a key driver in today’s market surge.

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