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5 Things to Know Today: Gas Tax Holiday Extended to 2027, BoC Holds, TSX Rebounds

  September 3, 2026 A big one for your wallet just landed: Ottawa is keeping the gas tax break alive well past Labour Day. Here's what else moved markets and money in Canada today. 1. Gas tax holiday extended to January 31, 2027 The federal fuel excise tax break that was set to expire on Labour Day (Sept. 7) isn't going anywhere. Finance Minister François-Philippe Champagne confirmed the suspension of the 10-cent-per-litre gasoline excise tax and 4-cent-per-litre diesel tax will now run until January 31, 2027, before being phased back in at half-rate from Feb. 1 to March 31 and fully restored April 1. Ottawa first introduced the break in April to offset oil-price shocks tied to the Iran war. What it means for you: The scheduled Sept. 8 jump of 10–11 cents a litre is off the table for now. CAA pegged the national average at 172.9 cents/litre this week — budget around that level rather than the higher price many drivers had braced for. 2. Bank of Canada holds rate at 2.25% for a...
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Stock Market Today: Dow, S&P 500, Nasdaq Futures Signal Rebound from Fed-Fueled Rout

                                          

U.S. stock futures indicated a rebound Thursday morning following a significant sell-off triggered by the Federal Reserve's latest interest rate decision. Futures tied to the S&P 500 rose by 0.5%, while those for the tech-heavy Nasdaq climbed 0.6%. The Dow Jones Industrial Average futures also saw a 0.5% increase.

The Federal Reserve's decision to scale back the number of anticipated rate cuts next year to two, coupled with Chair Jerome Powell's cautious remarks, led markets to interpret the move as a "hawkish cut," resulting in steep declines for the S&P 500 and Nasdaq. The Dow, meanwhile, is experiencing its longest losing streak in 50 years.

Despite the recent downturn, the Dow remains up over 12% for the year. On the economic front, the third estimate for third-quarter U.S. GDP showed a growth rate of 3.1%, surpassing earlier estimates. Additionally, weekly unemployment claims fell to 220,000, down from 242,000 the previous week.

Investors are now closely watching the market's response to these developments, hoping for a rebound in the coming days.




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