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Weekly Market Snapshot: Records Everywhere as a Blowout Canadian Jobs Report Meets a Shock U.S. Loss

  August 8, 2026 A short, holiday-shortened week still managed to deliver record after record. The TSX, the S&P 500, the Nasdaq, and Europe's major indices all closed the week at or near all-time highs — even as Friday's jobs numbers told two very different stories on either side of the border. Here's everything that moved your money this week, and what to watch next. The Bottom Line The TSX capped its biggest weekly advance in about four months, closing Friday at a record 36,381.23 after Canada added a blowout 75,100 jobs in July (versus 17,800 expected). Wall Street also hit fresh records — but for the opposite reason: US employers unexpectedly cut 23,000 jobs, which markets read as reducing the odds of any further Fed rate hikes. Add in a fourth straight record close for European stocks, a wild swing in oil, and gold pushing toward US$4,400/oz, and it was a week where almost every major asset class ended up higher. 🇨🇦 Canada: TSX's Best Week Since April Canadia...
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Chrystia Freeland Announces Bid for Liberal Leadership

In a significant political move, Chrystia Freeland has announced her candidacy for the leadership of the Liberal Party of Canada. Freeland, who previously served as the finance minister and deputy prime minister, is set to officially launch her campaign this Sunday. Her decision comes after a month of speculation following her resignation from the cabinet.

Freeland's entry into the race is expected to intensify the competition, especially with former Bank of Canada governor Mark Carney also vying for the top spot. If successful, Freeland could become Canada's second female prime minister. Early polling indicates that she is a strong contender, with 29% of Canadians expressing support for her leadership.

Freeland's campaign is likely to focus on key issues such as economic stability and climate change, areas where she has previously shown strong leadership. Her candidacy has already sparked discussions about the future direction of the Liberal Party and Canada's political landscape.



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