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5 Things to Know Today: Canada Enters Recession, Oil Slips on Iran Ceasefire Talk

Saturday, May 30, 2026 — Your quick-hit Canadian financial briefing for the day. 1.Canada Officially Meets the Definition of a Technical Recession Statistics Canada confirmed Friday that real GDP contracted 0.1% on an annualized basis in Q1 2026 — following a revised 1.0% drop in Q4 2025 . That's two straight quarters of negative growth, which meets the technical definition of a recession. The miss was a big one: economists had forecast growth of 1.5% . The main culprits were a surge in imports (up 2.9%, largely gold), declining business capital investment (down 0.7% — its fifth consecutive quarterly drop ), and weakness in resource extraction and construction. On a per-capita basis, GDP actually edged up 0.2% as Canada's population shrank for the second quarter in a row. Not everyone is ready to call it a full recession: some economists note that three of the four weak months were isolated, and early April data points to a sharp 0.4% rebound . Still, the numbers ...
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Market Rebound Expected as Amazon’s Earnings Boost Investor Sentiment

 

The stock market is showing signs of recovery today, with futures on the Nasdaq 100 and S&P 500 rising by 0.5% and 0.4%, respectively. This positive movement comes after a challenging period marked by significant losses following earnings reports from major tech companies like Meta and Microsoft.

Amazon’s strong earnings report has been a key driver of this rebound. The company’s shares surged over 6% in premarket trading after CEO Andy Jassy highlighted impressive growth in their cloud unit’s AI business. Intel also contributed to the positive sentiment with an earnings beat and optimistic outlook, further boosting investor confidence.

However, the market’s trajectory could be influenced by the upcoming jobs report, which is expected to show a slowdown in nonfarm payroll growth. This report is crucial as it will provide insights into the labor market and potentially impact Federal Reserve policy decisions.

In addition to the tech sector’s performance, other factors such as rising oil prices and geopolitical tensions in the Middle East are also playing a role in shaping market dynamics.

Investors will be closely watching the jobs report and other economic indicators to gauge the market’s direction in the coming days.



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