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 The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) .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...
World shares tracked Wall Street’s advance today, fueled by cooler-than-expected U.S. employment data. Last week, Wall Street had its best day in more than two months, and today’s gains further contributed to the positive momentum.
Key Highlights:
U.S. Markets:
- The S&P 500 climbed 1% today, adding to last week’s gains.
- The Dow Jones Industrial Average rose 0.5%.
- The Nasdaq composite surged 1.2%.
- Treasury yields remained steady in the bond market.
Global Markets:
- European markets started the day with gains. Germany’s DAX edged 0.1% higher, and the CAC 40 in Paris also saw modest gains.
- Asian markets performed well, with the Hang Seng in Hong Kong closing 0.4% higher and the Shanghai Composite index surging 1.2% after a weeklong holiday.
- Australia’s S&P/ASX 200 rose 0.7%, and Taiwan’s Taiex gained 1%.
- Markets in Tokyo and South Korea were closed for holidays.
U.S. Employment Data:
- The latest private sector survey showed that China’s services sector grew at a slower pace in April due to rising costs, although new orders rose and business sentiment improved.
- The U.S. added 175,000 jobs last month, down sharply from March’s blockbuster increase of 315,000. Average hourly earnings also rose less than expected.
- The modest increase in hiring suggests that the Federal Reserve’s aggressive rate hikes may be impacting the economy, potentially leading to a shift in interest rate policy.
Tech Stocks:
- Friday’s market rally was widespread, with technology stocks leading the gains.
- Apple jumped 6% after announcing a mammoth $110 billion stock buyback, despite reporting its steepest quarterly decline in iPhone sales since the pandemic began.
In summary, Wall Street’s positive performance today reflects optimism fueled by economic data and strong tech sector gains. Investors are closely watching the Federal Reserve’s next moves as they consider potential interest rate adjustments.
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