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...
Ingersoll Community Grapples with GM Plant Shutdown
The General Motors CAMI Assembly Plant in Ingersoll, Ontario, is facing a temporary shutdown, leaving hundreds of workers in uncertainty. The decision, attributed to market adjustments for BrightDrop electric delivery vehicles, has sparked concern among employees and local leaders. Unifor Local 88 CAMI Plant Chairperson Mike Van Boekel described the move as "devastating," highlighting the profound impact on families and the regional economy.
The plant, employing approximately 1,200 workers, will halt operations next month and resume in October at reduced capacity. This shift is expected to result in the indefinite layoff of nearly 500 workers. Ingersoll Mayor Brian Petrie expressed solidarity with affected families, emphasizing the importance of community support during this challenging period.
While GM remains committed to the BrightDrop initiative, the shutdown underscores broader challenges in the automotive industry. The Ingersoll community now faces the ripple effects of this decision, hoping for a swift recovery and a brighter future.
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