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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...
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Trudeau Announces GST Holiday and $250 Cheques to Ease Holiday Costs

 

Prime Minister Justin Trudeau has unveiled a series of measures aimed at alleviating financial pressures for Canadians during the holiday season. The announcement includes a two-month GST holiday on select goods and services, as well as $250 cheques for many Canadians.

Starting December 14, 2024, and running through February 15, 2025, the GST holiday will apply to a variety of items, including prepared foods, restaurant meals, snacks, children’s clothing and footwear, toys, books, and Christmas trees. This initiative is designed to provide immediate relief to families and individuals facing high costs during the festive period.

In addition to the GST holiday, the federal government will issue $250 cheques to Canadians who earned up to $150,000 in 2023. These cheques, part of the “Working Canadians Rebate,” are expected to be distributed in early spring 2025.

Trudeau emphasized that these measures are intended to help Canadians manage their expenses during a time of year that can be particularly financially challenging. “For two months, Canadians are going to get a real break on everything they do,” he said at a media event in Newmarket, Ontario.

Deputy Prime Minister Chrystia Freeland added that the GST holiday and rebate are part of the government’s broader efforts to support Canadians as the country continues to recover from the economic impacts of the COVID-19 pandemic.

These initiatives are expected to save taxpayers an estimated $1.6 billion over the two-month period, providing significant relief to many households across the country.


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