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...
Russia's Role in Stalling Peace Efforts in Ukraine
European foreign ministers convened at a NATO meeting in Brussels, collectively accusing Russia of obstructing U.S.-led peace initiatives aimed at resolving the ongoing conflict in Ukraine. The ministers urged the Trump administration to adopt a firmer stance against Moscow, citing concerns over Russian President Vladimir Putin's commitment to peace.
Despite U.S. President Donald Trump's promise to bring a swift end to the three-year war, recent developments have cast doubt on Putin's intentions. Moscow rejected a U.S. proposal for a 30-day ceasefire in March, even as Ukraine expressed willingness to cooperate. Instead, the warring sides agreed to a limited pause in attacks on energy infrastructure, which both parties accused each other of violating.
British Foreign Minister David Lammy criticized Putin for "dragging his feet" and continuing to bombard Ukraine's civilian population and energy supplies. German Foreign Minister Annalena Baerbock described Putin's negotiation efforts as "empty promises," while French Foreign Minister Jean-Noel Barrot called for a definitive response from Moscow to the ceasefire proposal.
Canadian Foreign Minister Melanie Joly suggested imposing a deadline for Russia to respond, emphasizing the urgency of the situation. The ministers' collective stance reflects growing frustration with Russia's perceived lack of commitment to peace and a call for stronger international pressure.
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