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 The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) .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...
Stock Market Today: Dow Nears 40,000 as Stocks Regroup Near Record Highs
US stocks remained relatively unchanged on Thursday following a record-setting rally. Signs of cooling inflation have fueled expectations for a Federal Reserve rate cut in September. Here are the key highlights:
Market Performance:
- The S&P 500 (^GSPC) edged slightly higher after closing above 5,300 for the first time.
- The Dow Jones Industrial Average (^DJI) and the tech-heavy Nasdaq Composite (^IXIC) were trading near the flatline.
- All three major indices ended Wednesday at all-time highs, leaving the Dow less than 100 points away from breaking through the 40,000 mark.
Inflation and Rate Cut Speculation:
- April’s tepid consumer inflation reading brought relief to a market anticipating higher interest rates. Trader bets on a Fed rate cut in September rose to over 70%, according to the CME FedWatch Tool.
- Investors also turned to bonds, pushing the 10-year Treasury yield (^TNX) down to near one-month lows at around 4.33%.
Corporate News:
- Walmart (WMT) posted better-than-expected quarterly profit, revenue, and same-store sales. The US retail giant’s shares surged over 5% as it raised its full-year forecasts.
- Warren Buffett’s Berkshire Hathaway (BKR-B) revealed a $6.7 billion stake in Chubb (CB), ending months of suspense over a position kept concealed in regulatory filings. Chubb’s shares climbed about 8%.
Insights from Walmart’s CFO:
- Walmart’s CFO, John David Rainey, highlighted deflation in certain product categories but not disinflation. Sales in May started strong, benefiting from investments in same-day delivery and buy online, pick up in stores technology.
- Walmart’s market cap crossed the $500 billion level.
In summary, the stock market remains resilient, with investors closely monitoring inflation trends and anticipating further Fed actions. The Dow’s march toward 40,000 continues, fueled by positive corporate earnings and strategic investments.
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