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...
Fragile Ceasefire: Russia and Ukraine Exchange Blows Amid Minerals Deal Ratification
Despite a Moscow-declared 72-hour ceasefire, both Russia and Ukraine reported attacks on their forces, casting doubt on the truce’s effectiveness. The ceasefire, announced by Russian President Vladimir Putin, coincides with the 80th anniversary of the Soviet Union’s victory over Nazi Germany. However, Ukrainian officials accused Russia of violating its own ceasefire hundreds of times within the first few hours.
Meanwhile, Ukraine’s parliament unanimously ratified a landmark minerals deal with the United States, a move expected to deepen strategic ties and facilitate reconstruction efforts. The agreement grants Washington access to Ukraine’s largely untapped mineral resources and establishes a joint investment fund for rebuilding the war-torn nation.
Despite the ceasefire, Russian bombs struck northeastern Ukraine, killing at least one civilian, while artillery assaults continued along the 1,000-kilometer front line. Ukrainian Foreign Minister Andrii Sybiha condemned the ceasefire as a “farce,” citing ongoing Russian assault operations.
As tensions persist, Putin welcomed Chinese President Xi Jinping to Moscow, underscoring Russia’s diplomatic efforts amid the ongoing conflict. Ukrainian President Volodymyr Zelenskyy, skeptical of the ceasefire, dismissed it as mere manipulation, arguing that it serves only to provide Putin with a peaceful backdrop for his Victory Day celebrations.
With both sides exchanging accusations and hostilities continuing, the prospect of a lasting peace remains uncertain. The minerals deal, however, signals Ukraine’s commitment to strengthening its economic and strategic partnerships despite the ongoing war.
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