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Canadian Money Brief – June 1, 2026: Markets Kick Off June on a High Note

  Markets Kick Off June on a High Note A strong finish to May carries momentum into the first trading session of June, with tech leading the charge and a major Berkshire deal grabbing headlines. At a Glance — Friday May 29 Close (Most Recent Confirmed) Index / Asset Level Change S&P/TSX Composite 34,769 +0.73% S&P 500 7,580 +0.22% Dow Jones 51,032 +0.72% Nasdaq Composite 26,973 +0.20% CAD/USD 0.7249 –0.06% WTI Crude Oil US$87.36/bbl –1.73% Gold US$4,574/oz –0.42% Sources: Yahoo Finance, Trading Economics. Closing data as of May 29, 2026. June 1 intraday data referenced in body. May Goes Out on a High North American markets wrapped up May in fine form. All three major U.S. indexes — the S&P 500, the Dow, and the Nasdaq — finished Friday at record closing highs, capping a month that saw the tech-heavy Nasdaq surge roughly 8% and the S&P 500 gain around 5%. The TSX also had a solid run, closing above the 34,700 mark on Friday, supported by a rebound in financials and ...
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US Economy Adds 175,000 Jobs in April, Unemployment Rate Edges Up


The latest data from the Labor Department reveals that the US economy added 175,000 jobs in April. While this marks a solid gain, it falls short of the 240,000 jobs that economists had anticipated. Here are the key facts and figures:

  1. Job Creation: The US job market has been expanding at a robust pace despite 11 rate hikes from the Federal Reserve aimed at slowing down the economy. In March, the economy added an impressive 315,000 jobs, well above expectations. However, April’s figure of 175,000 indicates a firm slowdown in job growth.

  2. Unemployment Rate: The unemployment rate ticked up slightly to 3.9%, compared to the estimated 3.8%. While this increase is modest, it highlights the ongoing challenges in the labor market.

  3. Wage Gains: Workers’ wage gains continue to outpace inflation, providing some relief amid rising living costs. However, the pace of wage bumps has slowed, which could impact the Federal Reserve’s efforts to manage inflation.

Despite the April slowdown, the US economy has maintained a remarkable streak of 40 consecutive months of employment expansion, making it the fifth longest such period on record. Additionally, the nation’s jobless rate has held below 4% for 26 consecutive months.

Investors are closely monitoring these developments, as any further signs of a slowdown could prompt the central bank to consider a rate cut sooner than expected. For now, markets anticipate the first cut to occur in November or December.

In summary, while the US job market remains resilient, the April report suggests a need for continued vigilance as economic conditions evolve.

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