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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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NATO head pushes Canada to meet 2% defence spending target

 

Speaking in Ottawa on Wednesday, NATO Secretary-General Jens Stoltenberg urged Canada to meet the target agreed upon by members of the military alliance: spending at least two percent of its gross domestic product (GDP) on defense. 

While Canada has made commitments in this regard, Stoltenberg expects all allies to do more and follow through on their pledges. Notably, in 2023, there was an unprecedented 11% increase in defense spending across European Allies and Canada, with 18 Allies expected to meet the 2% GDP target in 2024—a significant rise since 2014 when only three Allies achieved it. 

Canada’s current forecasted defense spending is around 1.36% of GDP, projected to reach 1.43% by fiscal year 2024-25. 

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