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Stocks Rip to Records as Oil Craters on Iran De-Escalation Hopes

August 5, 2026 Global markets roared into record territory Tuesday as easing fears over a Middle East oil shock sent crude prices tumbling and investors piled back into stocks. The Dow closed above 54,000 for the first time ever, the S&P 500 hit its first record high since June, and the TSX bounced back hard from its Civic Holiday closure. Here's everything you need to know before the market opens today. 🇨🇦 TSX: Back With a Bang Canadian markets reopened Tuesday after Monday's Civic Holiday closure, and investors made up for lost time. The S&P/TSX Composite Index surged 575.45 points, or 1.63%, to close at 35,801.59 — one of its strongest single-day gains of the year — clawing back all of Friday's 0.79% pullback and then some. Index Close Change S&P/TSX Composite 35,801.59 +575.45 (+1.63%) TSX Venture 898.89 +3.66% The rally was broad-based, with financials and miners leading the charge: Brookfield Asset Management jumped more than 6% after officially comple...
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Israeli War Cabinet Member Threatens to Quit Unless There’s a New Gaza Plan


In a significant development, Benny Gantz, a popular centrist member of Israel’s three-member War Cabinet, has threatened to resign from the government if it doesn’t adopt a new plan for the war in Gaza within the next three weeks. This decision would leave Prime Minister Benjamin Netanyahu more reliant on far-right allies. The ongoing war has stretched for more than seven months, during which Israel has yet to achieve its stated goals of dismantling Hamas and securing the return of scores of hostages abducted during the militant group’s October 7 attack.

Gantz has outlined a six-point plan that includes the following key elements:

  1. Return of Hostages: Ensuring the safe return of the abducted hostages.
  2. Ending Hamas’ Rule: Aiming to dismantle Hamas’ control in Gaza.
  3. Demilitarizing Gaza: Reducing the military capabilities of armed groups in the region.
  4. International Administration of Civilian Affairs: Establishing an international body to oversee civilian affairs in Gaza, with cooperation from American, European, Arab, and Palestinian stakeholders.
  5. Efforts to Normalize Relations with Saudi Arabia: Seeking to improve diplomatic ties with Saudi Arabia.
  6. Widening Military Service: Expanding mandatory military service to include all Israelis.

Gantz has set a deadline of June 8 for the adoption of this plan. He warned, “If you choose the path of fanatics and lead the entire nation to the abyss — we will be forced to quit the government.” In response, Netanyahu criticized Gantz for issuing an ultimatum to him rather than to Hamas, dismissing the conditions as “euphemisms” for Israel’s defeat.

This development highlights the deepening divide within Israel’s leadership and underscores the challenges faced in achieving a resolution to the conflict in Gaza. As the situation continues to evolve, the world watches closely to see how these tensions will impact the region’s stability and prospects for peace.


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