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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...
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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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