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Weekly Market Snapshot: Records Everywhere as a Blowout Canadian Jobs Report Meets a Shock U.S. Loss

  August 8, 2026 A short, holiday-shortened week still managed to deliver record after record. The TSX, the S&P 500, the Nasdaq, and Europe's major indices all closed the week at or near all-time highs — even as Friday's jobs numbers told two very different stories on either side of the border. Here's everything that moved your money this week, and what to watch next. The Bottom Line The TSX capped its biggest weekly advance in about four months, closing Friday at a record 36,381.23 after Canada added a blowout 75,100 jobs in July (versus 17,800 expected). Wall Street also hit fresh records — but for the opposite reason: US employers unexpectedly cut 23,000 jobs, which markets read as reducing the odds of any further Fed rate hikes. Add in a fourth straight record close for European stocks, a wild swing in oil, and gold pushing toward US$4,400/oz, and it was a week where almost every major asset class ended up higher. 🇨🇦 Canada: TSX's Best Week Since April Canadia...
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Pope Francis Shows Signs of Recovery from Pneumonia

Pope Francis is making strides in his recovery from pneumonia, according to the Vatican. The 88-year-old pontiff has been hospitalized at Rome's Gemelli hospital since February 14th after a bout of bronchitis worsened. Despite the severity of his condition, recent updates from the Vatican indicate that Pope Francis is showing positive signs of improvement.

On Thursday morning, the Pope was able to sit up out of bed and eat breakfast, marking his sixth peaceful night at the hospital. Vatican spokesman Matteo Bruni reported a slight improvement in some inflammation indices based on new blood tests conducted late Wednesday.

The Pope's condition had initially raised concerns due to his age and pre-existing health issues, including the loss of part of his right lung decades ago. However, his ability to get out of bed and maintain good spirits has been seen as a positive sign by medical experts.

Italian Premier Giorgia Meloni visited Pope Francis on Wednesday and noted that he was alert, responsive, and in good humor despite his diagnosis. The Pope is currently receiving a combination of antibiotics, cortisone, and additional pharmacological treatments to aid his recovery.

As the world continues to pray for his swift recovery, the Vatican remains hopeful that Pope Francis will overcome this health challenge and return to his duties soon.


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