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Canadian Money Brief: TSX Holds Steady as Wall Street Hits Records, Oil Slides to 5-Month Low

  Friday, July 3, 2026 U.S. markets are closed today for Independence Day (observed, since July 4 falls on a Saturday this year) and reopen Monday, July 6. Here's a recap of Thursday's session in Canada, the U.S., and Europe, plus how Asian and European markets are trading today as they react to Thursday's soft American jobs report. Thursday's Close S&P/TSX Composite 34,966.67 (+109.68, +0.31%) Dow Jones Industrial Average 52,900.07 (+1.14%, record close) S&P 500 7,483.24 (essentially flat, +0.01 pts) Nasdaq Composite 25,832.67 (-207.36, -0.80%) WTI Crude (Aug. contract) US$68.69/bbl (+11¢) Gold (Aug. contract) US$4,125.70/oz (+$43.30) Canadian Dollar 70.52¢ US (from 70.37¢ Tuesday) 🇨🇦 Canada: TSX Gains on Tech and Materials Strength The S&P/TSX Composite Index rose 109.68 points, or 0.31%, to close at 34,966.67 on Thursday, driven by gains in the technology and basic materials sectors. Brianne Gardner, senior wealth manager at Velocity Investment Partners...
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Markets Surge on Positive U.S. Retail Data


The stock markets opened with a bang today as both the TSX and the S&P 500 reached record highs, buoyed by encouraging U.S. retail data.

The S&P 500 climbed by 1.2%, closing at 5,308.15, while the TSX Composite Index rose by 41.42 points to settle at 22,284.76. This surge was driven by strong performances in the technology and utility sectors, reflecting investor optimism following a favorable U.S. retail sales report.

The U.S. retail data showed a robust increase in consumer spending, which has been a key indicator of economic health. This positive sentiment was further bolstered by lower-than-expected inflation figures, providing a double dose of good news for the markets.

Kathrin Forrest, an equity investment specialist at Capital Group, noted, "It’s been a really constructive day for equities, certainly in North America. The technology sector, in particular, ended the week with a strong rally, led by semiconductor companies".

As investors continue to digest these positive economic indicators, the outlook for the markets remains optimistic. The combination of strong retail sales and manageable inflation suggests a resilient economy, which is likely to keep the markets buoyant in the near term.


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