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Canadian Money Brief – June 1, 2026: Markets Kick Off June on a High Note

  Markets Kick Off June on a High Note A strong finish to May carries momentum into the first trading session of June, with tech leading the charge and a major Berkshire deal grabbing headlines. At a Glance — Friday May 29 Close (Most Recent Confirmed) Index / Asset Level Change S&P/TSX Composite 34,769 +0.73% S&P 500 7,580 +0.22% Dow Jones 51,032 +0.72% Nasdaq Composite 26,973 +0.20% CAD/USD 0.7249 –0.06% WTI Crude Oil US$87.36/bbl –1.73% Gold US$4,574/oz –0.42% Sources: Yahoo Finance, Trading Economics. Closing data as of May 29, 2026. June 1 intraday data referenced in body. May Goes Out on a High North American markets wrapped up May in fine form. All three major U.S. indexes — the S&P 500, the Dow, and the Nasdaq — finished Friday at record closing highs, capping a month that saw the tech-heavy Nasdaq surge roughly 8% and the S&P 500 gain around 5%. The TSX also had a solid run, closing above the 34,700 mark on Friday, supported by a rebound in financials and ...
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Ontario's Electricity Surcharge Sparks U.S. Backlash

Ontario's recent decision to impose a 25% surcharge on electricity exports to the United States has ignited tensions across the border. Premier Doug Ford announced the measure as a retaliatory response to U.S. tariffs on Canadian goods. The surcharge, effective immediately, impacts approximately 1.5 million homes and businesses in Michigan, Minnesota, and New York, potentially adding $100 to monthly electricity bills for affected consumers.

Ford defended the move, emphasizing its necessity to protect Ontario's interests amidst escalating trade disputes. He warned that further measures, including a complete halt to electricity exports, could follow if U.S. tariffs persist. While the surcharge is expected to generate significant daily revenue for Ontario, critics argue it could strain cross-border relations and disrupt energy markets.

U.S. governors have expressed concerns over the surcharge's impact on pricing and reliability, with some warning of potential reciprocal actions. As the trade standoff continues, the surcharge underscores the growing economic and political complexities in U.S.-Canada relations.

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