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5 Things to Know Today: Fed Decision Looms, TSX Slides, Gas Prices Climb (Sept 16)

  Wednesday, September 16, 2026 The Fed's biggest decision in years lands at 2 p.m. ET today, the TSX and loonie are both licking their wounds, and drivers are paying more at the pump despite the gas tax holiday. Here's what's moving your money this morning. 1. The Fed Decides on Rates Today — and a Hike Looks All but Certain The Federal Reserve announces its rate decision at 2 p.m. ET, with Chair Kevin Warsh's press conference to follow at 2:30 p.m. Markets have priced in over 90% odds of a 25-basis-point hike, which would lift the target range to 3.75%–4.00% from 3.50%–3.75%, where it's sat since December. It would be the first hike of this cycle, driven by inflation still running above target even as the labour market holds up. What it means for you: A Fed hike widens the gap with the Bank of Canada's 2.25% rate, which tends to pressure the loonie lower and nudge Canadian bond yields — and by extension fixed mortgage pricing — upward. Watch for the reaction ...
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Stock Market Today: Chip Stocks Surge as Nvidia Leads the Way

U.S. stock futures surged on Monday as chip stocks shone, with Nvidia leading the charge. Contracts on the Nasdaq 100 jumped almost 1%, while S&P 500 futures rose roughly 0.7%, poised to build on Friday's tech-led rally. Dow Jones Industrial Average futures also saw a modest rise of 0.3%.

The upbeat mood kicked off the first full-on week of 2025 for traders, highlighted by the release of the December nonfarm-payrolls report scheduled for Friday. Chip stocks rallied after a record revenue and strong sales forecast from Nvidia's server partner Foxconn, boosting optimism for AI-fueled growth. Nvidia shares rose 2% in pre-market trading, while peers AMD and Micron Technology each gained over 3%.

Focus remains on Nvidia later Monday when CEO Jensen Huang gives the keynote speech to start the CES tech conference. Investors will be listening for signs that Nvidia's new Blackwell chip has overcome supply glitches.



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