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5 Things to Know Today: Job Losses, a Sliding Loonie and Budget 2026 (Nov. 7)

  Canadian Money Brief · Saturday, November 7, 2026 Canada’s job losses stretched to a third month, the loonie took its biggest one-day hit since January, and the federal budget landed with a few items for your wallet. Here’s what to know today. 1 Canada’s job market has now lost jobs three months in a row Statistics Canada said the economy shed 4,700 jobs in October, well short of the gain of about 13,600 economists expected. The unemployment rate rose to 6.7% from 6.5%, a six-month high. That follows losses of 42,000 in August and 68,000 in September, and the country has added just 17,000 jobs over the past 12 months. Alberta lost 24,000 jobs, youth unemployment climbed to 13.7%, and average hourly wages were up only 2.2% from a year earlier. What it means for you: Wages are rising 2.2% a year while September inflation was 3.1%, so paycheques are losing ground. If your income feels less certain, this is a good week to check that your emergency fund covers three to six months of ...
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Market Rally Takes a Breather Amid Investor Caution

 

The relentless rally in U.S. stocks has finally hit a pause, with futures for the Dow Jones Industrial Average and the S&P 500 showing slight declines in early trading on Tuesday. This comes after both indices closed at record highs on Monday, driven by a post-election surge and investor optimism.

Market Performance

Dow Jones Industrial Average futures dipped by 0.1%, while S&P 500 futures fell by 0.2%. The tech-heavy Nasdaq 100 futures also edged down by 0.1%. This slight pullback is seen as a natural pause after a week of significant gains that pushed major indices to unprecedented levels.

Investor Sentiment

Wall Street analysts are signaling caution, suggesting that the recent surge might be overdone. According to Bank of America, investor exposure to U.S. stocks has reached an 11-year high, which could set the stage for profit-taking. Citi strategists echoed this sentiment, noting that the bullish bets might soon lead to a market correction.

Economic and Political Factors

The market is also digesting the potential policy impacts of President-elect Donald Trump’s cabinet picks. Florida Senator Marco Rubio has been nominated for Secretary of State, joining other high-profile China hawks in the administration. This has raised concerns about tougher tariffs on Chinese goods, which could spur inflation and affect global trade dynamics.

Cryptocurrency Surge

In the cryptocurrency market, Bitcoin’s rally continues, with the digital currency nearing the $90,000 mark before easing back to around $87,240. This surge is attributed to investor optimism surrounding Trump’s pro-crypto policies.

Upcoming Economic Data

Investors are now turning their attention to upcoming economic reports. Wednesday’s consumer price index (CPI) for October will be closely watched for signs of cooling inflation, which is a key focus for the Federal Reserve. Additionally, Thursday’s retail sales data will provide further insights into consumer spending trends ahead of the holiday season.

Conclusion

While the market’s recent performance has been impressive, the current pause reflects a mix of profit-taking and cautious optimism. As investors await more economic data and clarity on the new administration’s policies, the market could see increased volatility in the coming weeks.


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