Skip to main content

Featured

Canadians Gain More Room to Save with 2025 TFSA Limit

  The Tax-Free Savings Account (TFSA) contribution limit for 2025 has been set at $7,000 , giving Canadians another opportunity to grow their investments tax-free. Since its launch in 2009, the TFSA has become one of the most popular savings tools in the country, offering flexibility and tax advantages that appeal to both short-term savers and long-term investors. For those who have never contributed to a TFSA and were eligible since the beginning, the total cumulative contribution room now stands at $102,000 . This allows Canadians to deposit a significant amount into their accounts without worrying about taxes on investment gains, dividends, or withdrawals. One of the TFSA’s biggest advantages is that withdrawals are tax-free and the amount withdrawn is added back to your contribution room the following year . This makes it ideal for saving toward major purchases, retirement, or even emergency funds. Unlike RRSPs, contributions are not tax-deductible, but the growth inside the...
Post a Comment
Read more

article

Labels

Wall Street Soars as Consumer Resilience Fuels Record Highs

Markets Rally on Strong Economic Signals

North American stock markets surged to fresh record highs on Thursday, buoyed by robust economic data and upbeat corporate earnings that underscored the strength of consumer spending.

The S&P 500 climbed 0.54% to close at 6,297.36, while the Nasdaq Composite jumped 0.74% to 20,884.27, marking its sixth record close in seven sessions. Canada’s S&P/TSX Composite Index also joined the rally, rising 155.66 points to 27,308.63, driven by gains in consumer staples and tech stocks.

Retail Sales Rebound

June retail sales in the U.S. rose 0.6%, far exceeding expectations and signaling that consumers remain undeterred by inflation and tariff concerns. This resilience was echoed by major banks and analysts, who described the consumer outlook as “solid” and “confident.”

Earnings Boost Market Sentiment

Corporate earnings added fuel to the rally. PepsiCo surged over 7% after reporting strong demand for energy drinks and healthier sodas. TSMC, the world’s leading AI chipmaker, posted a record quarterly profit, lifting semiconductor stocks across the board. Airlines also soared, with United and Delta gaining on optimistic travel forecasts.

Investor Outlook

Despite political noise surrounding President Trump’s tariff policies and pressure on the Federal Reserve, investors remained focused on fundamentals. Jobless claims fell to a three-month low, and analysts now see a 54% chance of a Fed rate cut in September.

With Big Tech earnings on the horizon and consumer momentum holding firm, markets appear poised to extend their winning streak—though volatility may resurface as geopolitical and monetary tensions evolve.

Labels:

Comments

Post a Comment