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5 Things to Know Today: Key Money Headlines for Canadians

1. Spring Economic Update Lands Today Finance Minister François‑Philippe Champagne tables the 2026 Spring Economic Update this afternoon, outlining Ottawa’s latest fiscal outlook and new measures aimed at supporting Canadians amid global instability. 2. Fuel Excise Tax Temporarily Suspended Prime Minister Mark Carney has paused the federal excise tax on gas, diesel, and aviation fuel , offering short‑term relief as energy prices remain elevated due to geopolitical tensions.  3. Canada’s First Sovereign Wealth Fund Announced Carney has unveiled the Canada Strong Fund , the country’s first sovereign wealth fund, designed to finance major national infrastructure and economic‑building projects in partnership with the private sector.  4. CPP & OAS Payments Arrive Today New CPP and OAS payments are being issued today, including adjustments for seniors affected by recovery tax calculations, which are spread across monthly OAS payments.  5. Global Instability Conti...
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Stock Market Today: Nasdaq Surges and GameStop Skyrockets

 

In today’s stock market, the Nasdaq is leading the charge, with US futures pointing to an upbeat start for June. Here are the key highlights:

  1. Nasdaq Futures Rise: Contracts tied to the tech-heavy Nasdaq 100 (NQ=F) gained 0.4%, signaling a positive start for tech stocks. The S&P 500 (ES=F) also rose by 0.2%.

  2. GameStop’s Spectacular Surge: GameStop (GME) stole the spotlight, skyrocketing over 100% in pre-market trading. A Reddit post apparently by influential trader Keith Gill (AKA “Roaring Kitty”) fueled speculation of a return to the 2021-style meme rally. Fellow meme darling AMC’s (AMC) shares also shot up over 20%.

  3. Rate Cut Hopes and Inflation Data: Investors are optimistic about rate cuts as PCE data suggests inflation may have turned a corner. The Federal Reserve’s stance will be closely watched, especially with the May jobs report and other labor prints due later this week.

  4. AI Stocks Rally: Nvidia (NVDA) shares popped after the chipmaker unveiled a new AI platform. Rival AMD (AMD) also saw gains alongside its own new AI lineup and development plans.

Overall, stocks are poised to build on their strong performance from May, where all three major gauges broke records. Keep an eye on the Fed’s path and the tech sector as we navigate the market landscape.

Remember, investing involves risks, and it’s essential to do thorough research and consider professional advice before making any financial decisions. 

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