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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...
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Tech Stocks Lead Market Rally as Fed Signals Potential Rate Cut

 

In a significant market rally today, stocks soared, driven by a resurgence in tech shares. Nvidia led the charge, surging 12% after a positive earnings report and favorable analyst comments. The broader market also benefited from the Federal Reserve’s decision to hold interest rates steady, with Fed Chair Jerome Powell hinting that a rate cut could be on the table for September.

The S&P 500 rose nearly 1.6%, while the tech-heavy Nasdaq Composite surged more than 2.6%. The Dow Jones Industrial Average saw a more modest gain of 0.2%. Powell’s comments provided a boost to investor sentiment, as he noted that the economy is moving closer to the point where a rate reduction might be appropriate.

Tech stocks, which had been under pressure recently, rebounded strongly. Nvidia’s impressive performance was a highlight, with the company’s shares regaining ground lost earlier in the week. Other tech giants also saw gains, contributing to the overall positive market sentiment.

In commodities, oil prices jumped following geopolitical tensions, with Brent crude rising over 4% to top $81 a barrel. Meanwhile, Meta’s stock rose more than 4% after reporting better-than-expected earnings for the second quarter,

Overall, today’s market action reflects growing optimism among investors, buoyed by the potential for a more accommodative monetary policy and strong performances from key tech companies.


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