Skip to main content

Featured

Daily Markets Update: Tech Selloff Deepens, TSX Holds Steady Near 35,000 — Monday, June 29, 2026

  Global equity markets closed Friday, June 27 with a familiar story: technology stocks under pressure, energy shares retreating on easing Middle East supply fears, and the Toronto Stock Exchange managing to hold its ground better than most. Here is what happened across every major market and what Canadian investors should be watching this week. 🇨🇦 Canada — TSX Composite Index Close (Jun 27) Change S&P/TSX Composite 34,980 ▲ +0.4% The S&P/TSX Composite rose 0.4% on Friday to close at 34,980, supported by strength in the mining and technology sectors. Mining shares climbed on higher gold prices, helped by a weaker U.S. dollar and softening expectations of further Federal Reserve rate hikes following the latest U.S. PCE inflation data. Canada and Japan also advanced cooperation on mining projects, including potential joint stockpiling discussions. Barrick Gold gained 1.6%, while Franco-Nevada rose 2.3%. On the tech side, Shopify surged 4.6% — backed by its Spring '26 produc...
Post a Comment
Read more

article

Labels

Canada Braces for Lasting Economic Impact Amid U.S. Trade Tensions

 

The Bank of Canada’s Governing Council has issued a stark warning: a protracted trade conflict with the United States could permanently depress the nation’s GDP level. In recent meeting minutes, officials noted that the uncertainty surrounding U.S. trade policy—exacerbated by the threat of significant tariffs—could lead to a lasting reduction in economic output.

With nearly 75% of Canadian exports destined for the U.S., even temporary disruptions could force businesses to recalibrate their investment plans and supply chains, resulting in a permanent shift in the country’s economic potential. The central bank’s decision to trim its key policy rate by 25 basis points to 3% underscores the urgency of addressing these risks amid rising inflation pressures and subdued business confidence.

While the exact outcomes remain uncertain, the consensus among policymakers is clear: unless the trade tensions are resolved, Canada may face a long-term decline in GDP growth, along with accompanying inflationary pressures that could complicate future economic recovery efforts. The Bank of Canada plans to monitor the situation closely, ready to adjust its policy stance as needed to mitigate these challenges.


Labels:

Comments

Post a Comment