Thursday, July 9, 2026 Every July, a wave of federal benefit payments resets for the new benefit year — and 2026 brings one of the biggest shifts in years. Between a permanent 25% boost to the old GST/HST credit, a fresh Canada Child Benefit increase, and the largest quarterly OAS bump of the year, millions of Canadian households will see different numbers land in their accounts this month. Here's what actually changed, and what to check in your own CRA account. The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) . It's not a new program from scratch — it runs on the same CRA infrastructure and eligibility rules — but the payment amounts are 25% higher, and that increase is locked in for five years. The first CGEB payment went out on July 3, 2026. Under the new structure: A single individual with no children can receive up to roughly $679 per year (about $170 per quart...
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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