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 The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) .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...
Rate-Cut and AI Growth Hopes Take a Hit:
- The recent optimism surrounding rate cuts and artificial intelligence (AI) growth has waned. Federal Reserve officials have emphasized that interest rates will remain higher for longer due to persistent inflation concerns.
- High yields on 10-year Treasury bonds have weighed on growth stocks, particularly megacap Big Tech companies.
Arm’s Revenue Forecast Dampens AI Enthusiasm:
- Arm, a major chip designer, provided a downbeat annual revenue forecast. This has cast doubt on the AI growth narrative that had previously boosted chip stocks.
- Shares of Arm dropped 9% in pre-market trading, and sector peers Nvidia and AMD also saw slight declines.
Earnings Season Continues:
- Warner Bros. Discovery reported earnings that missed estimates, failing to provide support for investors seeking positive catalysts.
- Other companies, including Roblox and Yelp, are also reporting earnings today as the season winds down.
Macro Front Updates:
- Keep an eye on weekly jobless claims data, which is due later today.
- San Francisco Fed Chief Mary Daly is scheduled to speak, potentially providing further insights.
In summary, the stock market remains cautious, with investors closely monitoring earnings reports and macroeconomic indicators. The path forward depends on how various factors play out in the coming days.
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