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Weekly Market Snapshot: Gold's Wild Ride, TSX Slips as Warsh Rattles Markets

  It was a week that started with the TSX chasing records and ended with new Fed Chair Kevin Warsh reminding everyone the inflation fight isn't over. Big bank earnings rolled in strong, Nvidia delivered a blockbuster quarter, and gold went from a fresh record above $4,700 to a sharp Friday selloff — all in five trading days. Here's what moved your money this week, and what's coming up. 🇨🇦 Canadian Markets Index Close (Fri) Week Change S&P/TSX Composite 36,553.92 ▼ down on the week Canadian Dollar (USD/CAD) ~71.98¢ US roughly flat The TSX opened the week near record territory (36,834 Thursday, its second-highest close ever) on the strength of a clean finish to Big Five bank earnings — RBC posted a record $6.0 billion quarterly profit, CIBC's adjusted income jumped 26%, and Scotiabank's PCLs came in better than feared. But Friday turned rough: the index dropped roughly 280 points (-0.77%) to 36,553.92 as Warsh's hawkish tone hit both banks and gold miners, e...

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Russia's Missile Barrage Forces Power Grid Shutdown in Ukraine

 


In a significant escalation of hostilities, Russia launched a major ballistic and cruise missile attack on regions across Ukraine on Wednesday. The assault targeted critical energy infrastructure, compelling Ukrainian authorities to shut down the power grid in several areas despite the freezing winter weather.

The Russian Defense Ministry claimed responsibility for the strike, stating that it aimed at "critically important facilities of gas and energy infrastructure that ensure the functioning of Ukraine’s military industrial complex". The barrage included 43 missiles and 74 drones, with Ukrainian air defenses managing to shoot down 30 missiles and 47 drones.

The attack spanned from the Lviv region in western Ukraine to Kharkiv in the northeast, causing emergency power outages in six regions. Ukrainian Energy Minister Herman Halushchenko condemned the attack, describing it as an ongoing effort by Russia to terrorize Ukrainians and disrupt the nation's energy grid.

Ukrainian President Volodymyr Zelenskyy urged Western partners to accelerate the delivery of promised air defense weapons, emphasizing the need to protect Ukraine's energy infrastructure during the harsh winter months. The attack has further strained Ukraine's already eroded power generation capacity, with efforts to rebuild ongoing despite the relentless assaults.

The nearly three-year war has seen long-range attacks become a feature of the conflict, with both sides engaged in a war of attrition along a front line stretching about 1,000 kilometers from northeast to southern Ukraine. As the conflict continues, the resilience of the Ukrainian people and the support of international allies remain crucial in the face of ongoing aggression.



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