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...
Stock Market Rebounds After 3-Day Slump: Nasdaq and S&P 500 Rally
In a dramatic turnaround, US stocks surged today, recovering from a three-day market rout that had wiped out substantial gains for 2024. Here are the key highlights:
Nasdaq Leads the Charge: The tech-heavy Nasdaq Composite (^) soared by 2.2%, marking an impressive rebound. This surge was a welcome relief after the recent sell-off.
S&P 500 Bounces Back: The benchmark S&P 500 (^) followed suit, gaining around 2%. This rally helped mitigate the losses from the past three sessions and pushed year-to-date gains to approximately 11%.
Dow Jones Industrial Average Jumps: The Dow Jones Industrial Average (^) also participated in the recovery, rising by 1.4% (approximately 600 points).
Market Concerns and the Fed: The recent volatility was triggered by fresh worries about the US economy and its labor market. Investors are closely watching the Federal Reserve, with expectations of a rate cut at the next meeting.
Individual Stocks Rebound: Notable companies like Nvidia, Tesla, Microsoft, and Meta (formerly Facebook) saw gains today, contributing to the overall market recovery (^).
Cryptocurrencies Rise: Despite the recent crypto sell-off, Bitcoin (BTC-USD) climbed back above $55,000, up 7% (^).
Global Markets Stabilize: Japan’s Nikkei index also closed up over 10%, signaling a steadying of global markets (^).
As investors keep a close eye on the Fed’s actions, the coming days will provide crucial signals for the market’s next moves.
Comments
Post a Comment