Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
S&P 500 and Nasdaq Futures Steady Near Record Highs
US stock futures are holding near record-high levels as Wall Street remains bullish. Here are the key highlights:
Tech-Fueled Rally Continues:
- The S&P 500 and Nasdaq have been on a tear, driven by a tech-fueled rally.
- Evercore ISI raised its year-end price target for the S&P 500 to 6,000, while Goldman Sachs increased its target to 5,600.
- Last week, the S&P 500 crossed the 5,400 level for the first time.
Market Catalysts:
- After last week’s double dose of inflation reports and the Federal Reserve meeting, fewer catalysts are expected this week.
- Wednesday’s retail sales report will provide insight into the health of the US consumer.
- Fed policymakers may continue discussing rate cuts; Minneapolis Fed President Neel Kashkari hinted at a possible December rate cut.
Nasdaq’s “Perfect” Week:
- The Nasdaq Composite achieved a fifth-straight record close last Friday.
- Futures tied to the Nasdaq gained around 0.1%.
Dow Jones Industrial Average:
- Dow futures lost about 0.2%.
In summary, Wall Street remains optimistic, but investors are closely watching economic data and Fed decisions. Stay tuned for further updates!
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