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Markets Today: TSX Reopens After Canada Day as Global Chip Selloff Hits Asia and Weighs on Wall Street

  July 2, 2026 The Bottom Line: Canadian markets reopen today after the Canada Day holiday, picking up from a Toronto Stock Exchange that closed at a record-adjacent 34,856.99 on Tuesday. U.S. stocks eked out a mixed finish Wednesday as investors trimmed AI-related winners heading into the holiday-shortened week. Overnight, a fresh selloff in semiconductor stocks slammed South Korea's Kospi and spilled into Japan, while oil slid to its lowest level since before the Middle East conflict began. The loonie is holding steady near 1.42 to the U.S. dollar. 🇨🇦 Canada: TSX Reopens Today After Canada Day Closure The Toronto Stock Exchange, TSX Venture Exchange, and Montréal Exchange were closed Wednesday for the Canada Day holiday and resume regular trading hours this morning. The last confirmed close came Tuesday, June 30, when the S&P/TSX Composite Index rose 33.17 points, or 0.10%, to finish at 34,856.99 — a fresh high for the index as investors digested stronger-than-expected Ca...
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Canada's Inflation Rate Declines to 1.8% in December Amid GST Tax Break

 

Canada's annual inflation rate fell to 1.8% in December 2024, according to Statistics Canada. This decrease is largely attributed to the federal government's temporary tax break on various goods and services, including food purchased from restaurants, alcohol, tobacco, and clothing.

The tax break, which was introduced mid-December, significantly contributed to the deceleration in inflation. Without this tax relief, the inflation rate would have risen to 2.3%. Grocery prices also saw a decline, falling to 1.9% from the previous month.

The Bank of Canada is now closely monitoring these developments as it prepares for its next interest rate decision. Analysts are speculating whether this consistent easing of inflation might prompt further rate cuts.

This report highlights the impact of fiscal policies on inflation and underscores the importance of government interventions in managing economic stability.




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