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5 Things to Know Today: Retaliation Tariffs Hit, Oil Spikes on Saudi Strikes

  Tuesday, September 8, 2026 — Your morning rundown of the Canadian financial news that actually affects your wallet. 1. Canada's $27.6B Retaliation Tariffs Take Effect At 12:01 a.m. today, Canada's countermeasures against more than 700 U.S. products came into force, matching Washington's August 22 tariffs dollar-for-dollar. Tariffs on American steel and aluminum double to 50%, while new levies of 15% to 50% now apply to dairy, appliances, agricultural equipment, pulp and paper, and electronics. A $7.5-billion support package is rolling out for affected Canadian businesses. What it means for you: U.S.-made appliances (fridges, freezers, washers, dryers, ranges) now carry a 25% tariff, and cheese, whey, and milk powder imports jump 25%–50%. Shopping for a new appliance or specialty dairy product? Expect price increases to show up at retail over the coming weeks. 2. Oil Surges to ~$99 on Overnight Saudi Strikes Overnight strikes on Saudi energy facilities pushed Brent crude...
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Market Rebound: Dow, S&P 500, Nasdaq Futures Rise After Sharp Sell-Off

After a turbulent trading session, U.S. stock futures are showing signs of recovery on Tuesday. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite futures all climbed, attempting to regain ground lost during Monday’s sharp decline.

The market downturn was largely driven by renewed tensions between President Trump and Federal Reserve Chair Jerome Powell. Trump’s criticism of Powell’s monetary policy decisions added uncertainty to investor sentiment, leading to a widespread sell-off. However, futures rebounded as investors assessed the broader economic outlook and upcoming corporate earnings reports.

Tesla’s earnings report, scheduled for later today, is expected to be a key focus for investors. The electric vehicle giant has faced challenges with declining sales and shifting consumer demand, making its financial results particularly significant. Additionally, Verizon shares dropped in premarket trading after reporting a larger-than-expected loss in wireless subscribers, reflecting the impact of recent price hikes and competitive pressures.

Despite the volatility, analysts suggest that the market’s resilience could signal optimism among investors. As economic data continues to roll in, traders will be watching closely for signs of stability in the coming days.


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