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Weekly Market Snapshot: Records Everywhere as a Blowout Canadian Jobs Report Meets a Shock U.S. Loss

  August 8, 2026 A short, holiday-shortened week still managed to deliver record after record. The TSX, the S&P 500, the Nasdaq, and Europe's major indices all closed the week at or near all-time highs — even as Friday's jobs numbers told two very different stories on either side of the border. Here's everything that moved your money this week, and what to watch next. The Bottom Line The TSX capped its biggest weekly advance in about four months, closing Friday at a record 36,381.23 after Canada added a blowout 75,100 jobs in July (versus 17,800 expected). Wall Street also hit fresh records — but for the opposite reason: US employers unexpectedly cut 23,000 jobs, which markets read as reducing the odds of any further Fed rate hikes. Add in a fourth straight record close for European stocks, a wild swing in oil, and gold pushing toward US$4,400/oz, and it was a week where almost every major asset class ended up higher. 🇨🇦 Canada: TSX's Best Week Since April Canadia...
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Ontario Investigates Alberta Recruiter for Supplying Low-Wage Foreign Workers to Canadian Tire

 

Ontario's Ministry of Labour is currently investigating an Alberta-based recruiter, Allison Jones, for allegedly supplying low-wage foreign workers to Canadian Tire stores across Canada. The investigation was initiated after several workers reported wage reductions and poor working conditions, potentially violating the rules of the federal Temporary Foreign Worker Program (TFWP).

Jones, who owns a recruiting and immigration consulting agency in St. Albert, Alberta, is known for helping franchisees of Canadian Tire and Tim Hortons fill low-wage positions with labor from abroad. The allegations suggest that some workers were misled about their employment terms and had their wages arbitrarily cut.

The investigation highlights the broader issues surrounding the TFWP and the need for stronger regulatory oversight to protect temporary foreign workers from exploitation. As the probe continues, both Ontario and federal authorities are working to ensure that the rights of foreign workers are upheld.




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