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5 Things to Know Today: TSX Hits Record High as Oil Crashes Below $80

  August 5, 2026 1. Gas prices are set to drop again Oil cratered to around $80 a barrel (Brent) today after President Trump called off a planned strike on Iran, easing fears of a Strait of Hormuz disruption. That's a sharp drop from levels above $95-100 just two weeks ago. What it means for you: Expect pump prices to keep sliding over the next few days as the drop works its way through supply chains. Worth holding off on a fill-up if you can. 2. The TSX just hit an all-time high Toronto's benchmark index jumped 1.63% to close at 35,801.59, a fresh record, riding the same wave of Middle East de-escalation and strong US earnings from companies like Palantir and Caterpillar. What it means for you: If you hold Canadian equity funds in your RRSP or TFSA, today's close is good news — but records like this are also a natural point to check you haven't drifted too heavily into any one sector. 3. The loonie is holding steady near 1.41 USD/CAD sat around 1.4072 today, little c...
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Wall Street Holds Steady Amid Trump's Tariff Threats

                                       

US stocks showed resilience on Tuesday as investors weighed President-elect Donald Trump's threat to impose fresh tariffs on China, Canada, and Mexico. The S&P 500 inched up roughly 0.3%, while the tech-heavy Nasdaq Composite jumped about 0.4%. However, the Dow Jones Industrial Average dropped 0.3% after hitting a record high.

Trump's pledge to impose tariffs from his first day in office initially sparked trade war fears, but Wall Street seemed to take the news in stride, holding onto gains from Monday's Bessent-bounce. Investors are now closely watching the release of Federal Reserve minutes for clues on the pace of interest rate cuts in the coming year.

European carmakers, particularly Nissan and Honda, faced pressure due to Trump's "America First" push, while the Mexican peso and Canadian dollar dropped sharply. Meanwhile, bitcoin retreated to trade around $92,840 per token as its bid for the $100,000 milestone ran out of steam.




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