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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Hunter Biden Convicted in Federal Gun Trial: Historic Verdict and Implications

 

Hunter Biden, the only surviving son of President Joe Biden, has made history by becoming the first child of a sitting U.S. president to be convicted of a crime. The verdict was delivered on June 11, 2024, after a jury deliberated for just three hours.

The charges against Hunter Biden stem from his possession of a firearm while using narcotics. He was found guilty on all three counts, which include lying about his drug use to obtain the weapon. The maximum prison sentences for these charges range from five to ten years, and each count carries a maximum fine of $250,000.

In the defense room after the verdict, Hunter expressed gratitude to everyone involved, particularly his legal team led by Abbe Lowell. His emotional remarks highlighted the need to reconsider how drug and alcohol laws are enforced in the country, emphasizing fair prosecutorial discretion.

This landmark trial raises questions about the intersection of addiction, gun ownership, and legal accountability. As Hunter Biden faces the possibility of up to 25 years in prison, the case serves as a stark example of the justice system’s complexities and the impact of addiction on millions of Americans.



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