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...
Jagmeet Singh Steps Down as NDP Leader Amid Electoral Defeat
In a significant political development, Jagmeet Singh has announced his resignation as the leader of the New Democratic Party (NDP) following a disappointing performance in the 2025 federal election. Singh, who represented the Burnaby Central riding, faced a tough electoral battle and ultimately lost his seat. This marks a turning point for the NDP, which is projected to lose its official party status after a dramatic decline in parliamentary representation.
During an emotional concession speech, Singh expressed gratitude to his supporters and reflected on his tenure as leader. "It’s been the honour of my life to represent the people of Burnaby Central," he said, acknowledging the challenges faced by the party and its candidates. Singh also emphasized the importance of continuing to fight for a fairer and more compassionate Canada.
Singh's leadership began in 2017, and he made history as the first person of an ethnic minority to lead a major Canadian political party. Despite early successes, including policy wins like pharmacare and dental care, the NDP struggled to maintain voter support in recent years. The party's decision to end its alliance with the Liberals in 2024 did not yield the anticipated electoral gains, leaving the NDP vulnerable to a resurgent Conservative Party and a Liberal Party under new leadership.
As the NDP prepares for a leadership transition, Singh's departure signals the end of an era. The party now faces the challenge of rebuilding its base and regaining its footing in Canadian politics.
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