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5 Things to Know Today: Gas Tax Holiday Extended to 2027, BoC Holds, TSX Rebounds

  September 3, 2026 A big one for your wallet just landed: Ottawa is keeping the gas tax break alive well past Labour Day. Here's what else moved markets and money in Canada today. 1. Gas tax holiday extended to January 31, 2027 The federal fuel excise tax break that was set to expire on Labour Day (Sept. 7) isn't going anywhere. Finance Minister François-Philippe Champagne confirmed the suspension of the 10-cent-per-litre gasoline excise tax and 4-cent-per-litre diesel tax will now run until January 31, 2027, before being phased back in at half-rate from Feb. 1 to March 31 and fully restored April 1. Ottawa first introduced the break in April to offset oil-price shocks tied to the Iran war. What it means for you: The scheduled Sept. 8 jump of 10–11 cents a litre is off the table for now. CAA pegged the national average at 172.9 cents/litre this week — budget around that level rather than the higher price many drivers had braced for. 2. Bank of Canada holds rate at 2.25% for a...
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Stock Market Today: Wall Street Reacts to Mixed Earnings from Big Banks


Wall Street experienced a cautious start today as several major banks reported mixed first-quarter earnings. The market sentiment was influenced by expectations of potential interest rate cuts by the Federal Reserve.

Earnings Reports and Guidance

  • Mixed Bag: Big banks delivered a blend of positive and negative news. Some exceeded expectations, while others trimmed their guidance.
  • Interest Rate Assumptions: The banks’ cautious outlook was based on the assumption that the Federal Reserve might cut interest rates.

Global Markets and Tech Rebound

  • European Shares: European markets opened higher despite Asian markets retreating. A tech-fueled rebound on Wall Street the previous day had a ripple effect.
  • Oil Prices: Oil prices trended higher.
  • S&P 500 and Dow Jones: The future for the S&P 500 slipped slightly, while the Dow Jones Industrial Average edged higher.
  • Germany’s DAX: The DAX advanced, with inflation easing in March.
  • Asian Equities: Asian markets showed resilience, even amid a stronger U.S. dollar and China’s deflationary challenges.

Tech Stocks Take the Lead

  • S&P 500: The index rose, driven by Big Tech. Apple and Nvidia were notable gainers.
  • Amazon Sets a Record: Amazon’s stock climbed, surpassing its prior high set in 2021.
  • Market Dynamics: The gains, which had been spreading out, shifted back to a handful of Big Tech stocks.
  • Inflation Concerns: Persistent high inflation remains a key concern for traders, impacting bond markets and interest rate expectations.

Conclusion

The stock market remains dynamic, responding to earnings reports, inflation data, and global trends. Investors are closely watching the Federal Reserve’s moves. As the year unfolds, market dynamics will continue to evolve, shaping investment strategies.


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