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5 Things to Know Today — Fed Hikes, BoE Warns, and the TSX Is Bouncing Back

  The Fed's first rate hike since 2023 rocked markets Wednesday. Here's what it means for your wallet on Friday, September 18. Friday, September 18, 2026  |  moneysavings.ca 1 The Fed Hiked — First Time Since 2023 The U.S. Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 3.75%–4.00% on Wednesday — the first hike since June 2023. Chair Kevin Warsh cited persistent inflation tied to elevated oil prices and a still-resilient economy, saying recent inflation readings hadn't improved enough to justify holding. The decision was unanimous. The updated dot plot signals one more potential hike by year-end, then a pause through 2027. Markets initially sold off, but U.S. futures are rebounding this morning as investors reframe the move as a sign the Fed is serious about getting inflation under control. 💡 What It Means for You A higher U.S. federal funds rate puts upward pressure on Canadian bond yields and mortgage rates. The BoC is already...
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Stock Market Today: Nasdaq Surges and GameStop Skyrockets

 

In today’s stock market, the Nasdaq is leading the charge, with US futures pointing to an upbeat start for June. Here are the key highlights:

  1. Nasdaq Futures Rise: Contracts tied to the tech-heavy Nasdaq 100 (NQ=F) gained 0.4%, signaling a positive start for tech stocks. The S&P 500 (ES=F) also rose by 0.2%.

  2. GameStop’s Spectacular Surge: GameStop (GME) stole the spotlight, skyrocketing over 100% in pre-market trading. A Reddit post apparently by influential trader Keith Gill (AKA “Roaring Kitty”) fueled speculation of a return to the 2021-style meme rally. Fellow meme darling AMC’s (AMC) shares also shot up over 20%.

  3. Rate Cut Hopes and Inflation Data: Investors are optimistic about rate cuts as PCE data suggests inflation may have turned a corner. The Federal Reserve’s stance will be closely watched, especially with the May jobs report and other labor prints due later this week.

  4. AI Stocks Rally: Nvidia (NVDA) shares popped after the chipmaker unveiled a new AI platform. Rival AMD (AMD) also saw gains alongside its own new AI lineup and development plans.

Overall, stocks are poised to build on their strong performance from May, where all three major gauges broke records. Keep an eye on the Fed’s path and the tech sector as we navigate the market landscape.

Remember, investing involves risks, and it’s essential to do thorough research and consider professional advice before making any financial decisions. 

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