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Weekly Market Snapshot: Records Everywhere as a Blowout Canadian Jobs Report Meets a Shock U.S. Loss

  August 8, 2026 A short, holiday-shortened week still managed to deliver record after record. The TSX, the S&P 500, the Nasdaq, and Europe's major indices all closed the week at or near all-time highs — even as Friday's jobs numbers told two very different stories on either side of the border. Here's everything that moved your money this week, and what to watch next. The Bottom Line The TSX capped its biggest weekly advance in about four months, closing Friday at a record 36,381.23 after Canada added a blowout 75,100 jobs in July (versus 17,800 expected). Wall Street also hit fresh records — but for the opposite reason: US employers unexpectedly cut 23,000 jobs, which markets read as reducing the odds of any further Fed rate hikes. Add in a fourth straight record close for European stocks, a wild swing in oil, and gold pushing toward US$4,400/oz, and it was a week where almost every major asset class ended up higher. 🇨🇦 Canada: TSX's Best Week Since April Canadia...
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Israeli Airstrike in Southern Gaza Leaves 71 Dead

 

In a devastating attack on the southern Gaza Strip, at least 71 people lost their lives, according to the Gaza Health Ministry. The strike, which occurred in the Khan Younis area, also left 289 others injured. Many of the injured and deceased were taken to the nearby Nasser Hospital.

The Israeli official identified the target of the strike as Mohammed Deif, believed to be the chief architect of an earlier attack that killed around 1,200 people in southern Israel. Deif has long been on Israel’s most-wanted list and has reportedly escaped multiple assassination attempts in the past. Rafa Salama, another top Hamas official, was also targeted in the strike, though details on their fate remain unclear.

This tragic incident adds tension to ongoing talks between U.S., Egyptian, and Qatari mediators, who are working to narrow gaps between Israel and Hamas regarding a proposed three-phase cease-fire and hostage release plan in Gaza. The potential killing or injury of any senior Hamas official threatens to derail these delicate negotiations. 

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