Skip to main content

Featured

The GST/HST Credit Has a New Name — And It's Paying 25% More

  Sunday, July 19, 2026 If you've relied on the quarterly GST/HST credit, that name is gone for good. Here's what replaced it, how much more it's worth, and whether you need to do anything to get it. For years, the GST/HST credit quietly landed in millions of Canadian bank accounts every three months — a modest, tax-free top-up meant to offset sales tax on everyday purchases. As of this month, that program no longer exists under its old name. It's now the Canada Groceries and Essentials Benefit (CGEB) , and the federal government has permanently increased the payment by 25%, locked in for five years. If you already qualified for the GST/HST credit, you don't need to apply for anything new. But you should know what changed, because the numbers — and the timeline — are more involved than a simple rename. What actually changed The CGEB was first announced by the federal government in January 2026 as part of a broader affordability push, and it became law with the passa...
Post a Comment
Read more

article

Labels

Dow Jones Industrial Average Closes Above 40,000 for the First Time

 


In a historic milestone, the Dow Jones Industrial Average (Dow) achieved a significant feat by closing above 40,000 points for the first time ever. This remarkable achievement capped off a winning week for stocks, as major indices notched weekly gains.

Record Highs and Weekly Wins

  • The Dow rose 0.3% on Friday, reaching a record high of 40,003.59 points.
  • The broader market also performed well:
    • The S&P 500 ticked up 0.1%.
    • The tech-heavy Nasdaq Composite slipped 0.1% but still secured a weekly win.

Fed Officials and Inflation Concerns

The stock market rally faced a minor setback due to comments from Federal Reserve officials. They warned that interest rates are likely to remain at historic highs for some time. Encouraging inflation data earlier in the week had raised hopes of a September rate cut, but these remarks tempered expectations.

Fed Chair Jerome Powell’s Pre-Recorded Remarks

  • Fed Chair Jerome Powell, who recently tested positive for COVID-19, delivered his remarks through a pre-recorded video. He emphasized the central bank’s commitment to monitoring inflation and adjusting rates as needed.
  • US Federal Reserve Governor Michelle Bowman reiterated her view that the central bank has not made sufficient progress in curbing inflation this year. She expressed readiness to raise rates if incoming data indicates further inflationary pressures.

Individual Movers

  • Reddit (RDDT) shares surged 10% after the social media platform announced a partnership with OpenAI. This collaboration will integrate content from Reddit forums into ChatGPT.
  • GameStop (GME) shares, on the other hand, declined over 19%. The games retailer expects first-quarter sales to drop as shoppers shift to online outlets. Despite an initial rally reminiscent of the 2021 frenzy, the stock has faced recent downward pressure.

Looking Ahead

As corporate earnings season winds down, several key players are set to report next week. Notable names include Zoom, Lowe’s, Target, and Nvidia—the latter capitalizing on the growing demand for AI technology.

In summary, the Dow’s breakthrough above 40,000 points reflects both market optimism and cautious attention to inflation dynamics. Investors will closely monitor future developments as the economy continues to recover and adapt to changing circumstances.

Labels:

Comments

Post a Comment