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...
A New Era for the Papacy: Could Asia or Africa Lead the Vatican?
As the Catholic Church mourns the passing of Pope Francis, the world turns its attention to the Vatican, where the College of Cardinals will soon convene to elect the next pope. This historic conclave has sparked speculation about the possibility of a pontiff emerging from Asia or Africa, regions where Catholicism is experiencing rapid growth and profound influence.
The late Pope Francis, the first Latin American pope, broke centuries-old traditions by shifting the Church's focus toward global inclusivity. His appointments of cardinals from diverse backgrounds have reshaped the College of Cardinals, with nearly a third now hailing from Asia and Africa. This demographic shift reflects the Church's growing presence in these regions, where vibrant communities and increasing vocations are reshaping the Catholic landscape.
Among the leading contenders are Cardinal Luis Antonio Tagle of the Philippines, often referred to as the "Asian Francis," and Cardinal Fridolin Ambongo of the Democratic Republic of Congo, a staunch advocate for social justice. Both candidates embody the Church's evolving priorities, emphasizing pastoral care, environmental stewardship, and outreach to marginalized communities.
The election of an Asian or African pope would mark a transformative moment in the Church's history, signaling a commitment to its global mission and the diverse voices within its fold. As the conclave approaches, the world watches with anticipation, hopeful for a leader who will guide the Church into a new chapter of inclusivity and renewal.
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