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TSX Near Record Highs, Wall Street Rallies Into the Weekend Ahead of Bank of Canada Decision

    Monday, July 13, 2026 Canadian and U.S. markets closed out last week on a strong note, with the TSX inching closer to record territory on the back of a surprisingly strong jobs report and Wall Street extending its rally as a blockbuster IPO stole the spotlight. Here's everything Canadian investors need to know heading into a big week that includes Wednesday's Bank of Canada rate decision. Note: Figures below reflect confirmed closing prices from Friday, July 10, 2026, the last completed trading session. Markets were closed over the weekend. 🇨🇦 Canadian Markets S&P/TSX Composite: 35,305.31 ▲ 104.86 (+0.30%) Toronto's benchmark index closed higher for a second straight session, edging closer to record territory after Statistics Canada reported that the economy added 18,200 jobs in June, well ahead of expectations, while the unemployment rate unexpectedly fell to its lowest level in nearly two years. Financials led the way, with RBC, TD, and BMO all posting gains, ...
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Stock Market Today: Futures Slide Amid Government Shutdown Fears and Sticky Inflation

                                         

U.S. stock futures took a hit on Friday as investors braced for a potential government shutdown and digested mixed inflation data. Futures tied to the S&P 500 dropped 1%, while Nasdaq futures plunged 1.3%, and Dow Jones Industrial Average futures fell around 0.5%.

The looming government shutdown, driven by the House of Representatives voting against a spending bill, has heightened concerns among investors. Additionally, the Federal Reserve's preferred inflation gauge, the core Personal Consumption Expenditures (PCE) index, showed a slight month-over-month increase of 0.1% in November, indicating persistent inflationary pressures.

Key companies like Nvidia, AMD, and Broadcom faced significant pressure, while Tesla saw a 6% drop following a vehicle recall. Bitcoin prices also retreated nearly 10% amid record ETF outflows.

Investors remain cautious as they await further developments on both the political and economic fronts.



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