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Weekly Market Snapshot: TSX Hits Record High, Then Retreats as Fed Shocks Markets

  Week of June 16–20, 2026  |  Published June 20, 2026 It was a week of records and reversals for Canadian investors. The TSX touched an all-time high midweek before a hawkish surprise from the U.S. Federal Reserve and falling oil prices — triggered by the U.S.–Iran interim peace deal — pulled markets lower into Thursday's close. Here's everything that moved the needle for your portfolio and wallet this week. 📊 Weekly Market Scorecard Index / Asset Level (June 19 Close) Week Change S&P/TSX Composite 34,857 ▼ Mixed (high: 35,629 Wed.) S&P 500 (USD) 7,500.58 ▲ +1.08% (Wed.) Dow Jones (USD) 51,564.70 ▲ +0.14% (Wed.) Nasdaq (USD) 26,517.93 ▲ +1.91% (Wed.) WTI Crude Oil (USD/barrel) ~$76.54 ▼ Sharp weekly decline Gold (USD/oz) ~$4,157 ▼ Fell on hawkish Fed CAD/USD (Loonie) ~$0.7068 ▼ Under pressure Note: U.S. markets were closed Friday, June 20, for the Juneteenth National Independence Day holiday. TSX figures reflect Thursday's close. 🇨🇦 TSX: A Record High That Did...

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Mark Carney's Alberta Roots: A Strategic Launch for Liberal Leadership

 

 Mark Carney, the former Governor of the Bank of Canada, is set to unveil his Liberal leadership campaign this afternoon in Edmonton, ending nearly a decade of speculation about his political ambitions. 

Carney's decision to launch his campaign from Alberta is a strategic move to highlight his roots in the province. An Edmonton Oilers fan, Carney grew up in the city's west end and worked as a newspaper boy. This launch gives him a chance to connect with voters in a province that has traditionally leaned conservative.

The leadership race is expected to be intense, with former finance minister Chrystia Freeland and government House leader Karina Gould also expected to enter the race in the coming days. The cut-off date to declare a bid for the leadership is January 23, and candidates have to pay a $350,000 entrance fee. 

Carney will seek to position himself as an outsider and put some distance between himself and the deeply unpopular government of outgoing Prime Minister Justin Trudeau. Pierre Poilievre's Conservatives will attempt to tie Carney to the Trudeau government's sinking brand and attack him over his past support of carbon pricing and his recent work advising the Liberal party on economics.

Launching his campaign in Edmonton gives Carney a chance to put his Alberta roots on full display as Canadians get to know him. Alberta could shape up to be an intense battleground between Carney and Freeland, who also grew up in the province.



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