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Markets Update — Friday, June 26, 2026: Global Tech Sell-Off Rattles Markets as TSX Holds Firm

  Friday, June 26, 2026 — Reporting on confirmed June 25 closing data. Asian and European figures reflect Friday session activity. 🇨🇦 Canada — TSX The S&P/TSX Composite Index closed Thursday at 34,850 , up 0.3% on the day — a relatively resilient showing while Wall Street struggled with a tech-driven selloff. Gains in the financial and mining sectors carried the index. The big Canadian banks were a bright spot: TD Bank added 0.9%, Royal Bank gained 0.4%, and BMO rose 0.9%. On the mining side, Agnico Eagle gained 1.7% as gold prices held near the $4,000 level. Technology names were the drag. Shopify fell 2.6%, Constellation Software lost 3.6%, and Celestica shed 0.7%, tracking the broader global selloff in tech stocks. Still, with Canadian tech making up a far smaller portion of the TSX than it does on U.S. indices, the damage was contained. Investors also parsed Thursday's Bank of Canada Summary of Deliberations, which confirmed policymakers are keeping monetary policy flexi...
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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:

  1. 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.

  2. 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.

  3. Nasdaq’s “Perfect” Week:

    • The Nasdaq Composite achieved a fifth-straight record close last Friday.
    • Futures tied to the Nasdaq gained around 0.1%.

  4. 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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