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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...
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The stock market experienced a downturn today as futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite slipped. This decline follows a brief rally fueled by the Federal Reserve's decision to hold interest rates steady. While the Fed's move initially reassured investors, concerns about inflation and slower economic growth have resurfaced, dampening market sentiment.

Futures linked to the Dow fell by 0.6%, while the S&P 500 and Nasdaq futures dropped by 0.7% and 0.9%, respectively. The Federal Reserve's updated projections, which indicate higher inflation and reduced economic growth, have raised doubts about the path to potential rate cuts later this year. These broader economic concerns have weighed heavily on investor confidence.


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