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5 Things to Know Today: Gas Tax Holiday Extended to 2027, BoC Holds, TSX Rebounds

  September 3, 2026 A big one for your wallet just landed: Ottawa is keeping the gas tax break alive well past Labour Day. Here's what else moved markets and money in Canada today. 1. Gas tax holiday extended to January 31, 2027 The federal fuel excise tax break that was set to expire on Labour Day (Sept. 7) isn't going anywhere. Finance Minister François-Philippe Champagne confirmed the suspension of the 10-cent-per-litre gasoline excise tax and 4-cent-per-litre diesel tax will now run until January 31, 2027, before being phased back in at half-rate from Feb. 1 to March 31 and fully restored April 1. Ottawa first introduced the break in April to offset oil-price shocks tied to the Iran war. What it means for you: The scheduled Sept. 8 jump of 10–11 cents a litre is off the table for now. CAA pegged the national average at 172.9 cents/litre this week — budget around that level rather than the higher price many drivers had braced for. 2. Bank of Canada holds rate at 2.25% for a...
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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:

  1. 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.

  2. 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%.

  3. Dow Jones Industrial Average Jumps: The Dow Jones Industrial Average (^) also participated in the recovery, rising by 1.4% (approximately 600 points).

  4. 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.

  5. Individual Stocks Rebound: Notable companies like Nvidia, Tesla, Microsoft, and Meta (formerly Facebook) saw gains today, contributing to the overall market recovery (^).

  6. Cryptocurrencies Rise: Despite the recent crypto sell-off, Bitcoin (BTC-USD) climbed back above $55,000, up 7% (^).

  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.

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