Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
New Alliance Against ISIS: Turkey Joins Neighbors in Syrian Fight
In a bold regional move, Turkey announced it will join forces with Syria, Iraq, and Jordan to confront the lingering threat of the Islamic State group in Syria. Turkish Foreign Minister Hakan Fidan emphasized that this coordinated effort aims not only to dismantle ISIS’s remaining footholds but also to recalibrate U.S. involvement in the region, particularly by reducing support for Kurdish-led militias that Turkey deems as extensions of the PKK.
Speaking at a press conference in Doha alongside regional leaders, Fidan criticized the current role of the Kurdish YPG, arguing that instead of actively combating ISIS, the group is largely occupied with guarding thousands of ISIS detainees. He suggested that a united regional front would be more effective in eradicating the extremist threat and would allow the United States to reconsider its long-standing alliance with the Kurdish forces.
Preliminary talks among the four nations have already taken place, setting the stage for joint military operations and intelligence sharing. The proposed alliance reflects Turkey’s strategic pivot in the region—seeking to reinforce its national security while pushing for a realignment of external military support in Syria. Critics of U.S. policy, including Turkish officials, hope that this new coalition could prompt a reassessment of Western engagement, especially concerning Kurdish forces in Syria.
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