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Weekly Market Snapshot: AI Rout, Oil Plunge and Weak Jobs Rock the Week (Nov 2–6)

  It was a week of two completely different markets. Stocks jumped early after Democrats won control of Congress in the U.S. midterms, and oil collapsed on hopes of a path to ending the Iran conflict. Then, on Thursday, a violent AI and chip selloff hit Wall Street, tipped the Nasdaq into a correction and spread to Asia and Europe on Friday. Canada's S&P/TSX managed a small weekly gain, helped by metals and a late bounce, but the loonie and the job market told a weaker story at home. 🇨🇦 Canada: A Small Gain, a Big Midweek Swing The S&P/TSX Composite closed Friday at 35,789.09 , up 183.82 points on the day and about 0.5% higher for the week from last Friday's 35,620.03. The path was bumpy: the index climbed to 36,341.40 on Wednesday (+2.28%), then dropped 736 points (-2.03%) on Thursday to 35,605.27, its sharpest one-day fall in about five months, as tech stocks sold off with Wall Street. Friday's rebound was led by base metals, health care and technology. Shopify...
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Tax Season: How to Spot Scams and Keep Your Money Safe


As the tax deadline approaches, so do the scams. Fraudsters are becoming increasingly sophisticated in their tactics to steal personal information and money. Here are some valuable tips to help you stay safe:

  1. Beware of Phishing Emails and Calls:

    • Phishing emails: Be cautious of unsolicited emails claiming to be from the Canada Revenue Agency (CRA). These emails often contain malicious links or attachments. Never click on suspicious links or provide personal or financial information.
    • Phone scams: Scammers may call, pretending to be CRA agents, demanding urgent payments. They might threaten legal action or claim you owe money. Remember that the CRA will never ask for payments via Interac e-Transfer, bitcoin, prepaid credit cards, or gift cards.

  2. Ask Yourself Key Questions:

    • Is the communication threatening or urgent?
    • Does it request payment in unusual forms (e.g., bitcoin or gift cards)?
    • Is the sender or caller claiming to be from the CRA?
    • Trust your instincts and verify before taking any action.

  3. Stay Informed:

    • Keep up-to-date with CRA scam alerts. The CRA regularly shares information about common scams targeting taxpayers. Being aware of these can help you avoid falling victim to fraud.

Remember, protecting your personal information during tax season is crucial. Stay vigilant, and if something seems suspicious, verify its legitimacy before taking any action. Your financial safety matters! 


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