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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Raging Wildfire Engulfs Jasper, Alberta: A Perfect Storm of Destruction

 

In a devastating turn of events, a wildfire that began 12 kilometers away from Jasper, Alberta, transformed into an unstoppable force, leaving firefighters powerless. The inferno, fueled by relentless winds gusting up to 100 kilometers per hour, created a 100-meter-tall wall of fire that consumed buildings within the townsite. 

Scientists attribute this catastrophe to a trifecta of factors: prolonged drought, dense forests filled with dead lodgepole pine trees, and strong winds that funneled the fire toward the town. The situation in Jasper is dire, with potentially 30% to 50% structural damage. Authorities are now faced with the daunting task of rebuilding a community that has been ravaged by this natural disaster. 


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