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5 Things to Know Today: Your Canadian Money Brief — June 2, 2026

  Tuesday, June 2, 2026  |  MoneySavings.ca Markets are mixed, a big government cheque is days away, and the Bank of Canada is just over a week from its next rate call. Here's what every Canadian should have on their radar this morning. 1 of 5 TSX Inches Lower as Gold Slips and Financials Feel the Heat The S&P/TSX Composite closed Monday at 34,735 points, down about 0.10% from Friday's session. It was a tale of two sectors: financials dragged on the index as RBC and TD each lost close to 1%, with CIBC shedding nearly 2%, while gold miners also pulled back — Agnico Eagle fell 3.5% and Barrick dropped close to 3%. On the bright side, energy stocks surged as oil prices rallied, with Canadian Natural Resources up nearly 3% and Suncor gaining over 3%. Shopify also climbed roughly 2% on enthusiasm around AI chip advances. Year-to-date, the TSX is up about 9.5% — trailing Japan's Nikkei (+31.8%) but ahead of the S&P 500 (+11.0%) for the period through June 1. 💡 Money Ti...

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GM's Oshawa Plant to Reduce Shifts Amid U.S. Tariff Concerns


General Motors is set to scale back operations at its Oshawa Assembly Plant this fall, moving from a three-shift system to two shifts. The decision, according to Unifor, the union representing workers, is a direct response to U.S. tariffs imposed on Canadian-built vehicles.

Unifor National President Lana Payne criticized the move, calling it "reckless" and warning that it could have widespread consequences for the auto parts supplier network. The union has urged GM to reconsider its decision, arguing that Canadian jobs should not be sacrificed for political favor.

The shift reduction follows the U.S. government's imposition of a 25% tariff on Canadian-made vehicles in March, a policy that has significantly impacted the Canadian auto industry. GM has stated that it plans to recalibrate the Oshawa plant to focus more on Canadian sales rather than exports to the U.S..

With thousands of jobs potentially affected, Unifor is calling on the Canadian government to take swift action to protect domestic auto manufacturing. The union has also demanded that GM uphold its commitments to Canadian workers and production.

The Oshawa plant, which assembles Chevrolet Silverado trucks, was reopened after significant investments from federal and provincial governments. Now, with the looming shift cuts, workers and industry leaders alike are watching closely to see how GM and policymakers respond.

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