Thursday, July 9, 2026 Every July, a wave of federal benefit payments resets for the new benefit year — and 2026 brings one of the biggest shifts in years. Between a permanent 25% boost to the old GST/HST credit, a fresh Canada Child Benefit increase, and the largest quarterly OAS bump of the year, millions of Canadian households will see different numbers land in their accounts this month. Here's what actually changed, and what to check in your own CRA account. The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) . It's not a new program from scratch — it runs on the same CRA infrastructure and eligibility rules — but the payment amounts are 25% higher, and that increase is locked in for five years. The first CGEB payment went out on July 3, 2026. Under the new structure: A single individual with no children can receive up to roughly $679 per year (about $170 per quart...
Wall Street Leans Toward Gains Ahead of Powell Testimony and Earnings Data
Wall Street is poised for gains as we enter day two of Federal Reserve Chair Jerome Powell’s testimony before Congress. Here are the key highlights:
Futures Rise: Futures for the S&P 500 have climbed 0.2%, while Dow Jones Industrial Average futures edged up slightly. Investors are closely monitoring Powell’s remarks for insights into monetary policy decisions.
Earnings Season: As companies report their quarterly earnings, market participants are paying attention to corporate performance. Expectations are high, and positive surprises could drive further gains.
Inflation Data: The market is also keeping an eye on inflation data. Rising prices have been a concern, and any indications from Powell regarding the Fed’s stance on inflation will be closely scrutinized.
Remember, Powell’s comments can significantly impact market sentiment. Stay tuned for further updates as the day unfolds!
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