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5 Things to Know Today: TSX Hits a Fresh High, Gas Prices Ease, and the Fed Decision Looms

  Tuesday, July 28, 2026 — Here's what's moving markets and your wallet today, in five minutes or less. 1. The TSX just posted its best close of the year The S&P/TSX Composite closed Monday at 35,568.14, up 0.56% on the day, as a weekend pause in the US-Iran conflict sparked a relief rally across global markets. It's the third time in a week the index has flirted with record territory. The rally has been broad-based — energy names cooled off as oil retreated, while banks and industrials picked up the slack. What it means for you: If you hold Canadian equity funds in your TFSA or RRSP, this is a good week to check your statement — but resist the urge to chase the rally by moving money in reaction to a single good week. Stick to your regular contribution schedule. 2. Gas prices are finally coming down With Brent crude sliding toward the mid-$80s after the US-Iran truce held over the weekend, pump prices are easing across Ontario after weeks of increases. Regular gas in t...
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Stocks Rise as Weak Economic Data Sink US Yields

                                        

Wall Street traders sent stocks higher and bond yields fell as a string of weaker-than-estimated economic reports reinforced the case for the Federal Reserve to start cutting rates this year. In a shortened session ahead of the US holiday, the S&P 500 headed toward a fresh all-time high.

In summary:

  • The S&P 500 rose to around 5,520.
  • Tesla Inc. extended its rally into a seventh straight session.
  • Amazon.com Inc. fell.
  • Treasury 10-year yields fell seven basis points to 4.36%.
  • Swap traders project almost two rate cuts in 2024, with the first in November.
  • The dollar headed toward its biggest drop since mid-May.

Investors are closely watching Friday’s employment data for further insight into the state of the labor market. Economists anticipate a 190,000 gain in nonfarm payrolls, with the unemployment rate holding at 4%.


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