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...
Market Surge After Trump Rally Incident
Following the recent incident at a Pennsylvania rally where former President Donald Trump was shot in the ear, financial markets experienced notable movements. Here are the key highlights:
Trump Media & Technology Group (TMTG) Shares Surge:
- Shares of Trump Media & Technology Group (TMTG), the parent company of social media platform Truth Social, soared by 67% in premarket trading. Trump owns a majority stake in TMTG, which was worth about $3.8 billion as of June 25, 2024.
- The surge in TMTG stock reflects investors’ anticipation that Trump’s odds of winning the election have risen following the assassination attempt.
- Retail traders have been betting on a Trump victory, and this recent incident further fueled their confidence.
Crypto Stocks React:
- The intersection between political events and crypto price movements became evident. The Solana memecoin TRUMP (MAGA) surged by 42% within minutes of the news breaking, while Bitcoin climbed past the $59,000 mark.
- Trump’s crypto-friendly stance has contributed to the positive sentiment in the crypto market.
- Crypto exchange Coinbase Global, bitcoin miners Riot Platforms Inc, and Marathon Digital also saw gains of 6% to 7%.
Other Market Reactions:
- The broader US market remained subdued, with futures tied to the S&P 500 edging up by 0.4%.
- Gun maker Smith & Wesson Brands gained 2.7%, as gun stocks tend to rise after mass shootings.
- Prison stocks Geo Group and CoreCivic rose about 7%, potentially benefiting from Trump’s promised crackdown on illegal immigration.
- Software developer Phunware and video-sharing platform Rumble also saw significant increases in their stock prices.
While these market movements reflect the immediate impact of the incident, it’s essential to keep an eye on further developments as the US election campaign continues.
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