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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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Impeachment Bid Against South Korean President Fails Amid Ruling Party Boycott

In a dramatic turn of events, the attempt to impeach South Korean President Yoon Suk Yeol has failed after members of his ruling party boycotted the vote. The impeachment motion, which required a two-thirds majority in the National Assembly, fell short as only three lawmakers from the People Power Party (PPP) participated in the vote.

The impeachment effort was sparked by President Yoon's controversial declaration of martial law, which was quickly overturned by the National Assembly. The opposition parties, holding 192 seats, needed at least eight votes from the PPP to reach the required 200 votes for impeachment. However, the boycott by the majority of PPP members prevented the motion from passing.

The failure of the impeachment vote is expected to intensify public protests and deepen political turmoil in South Korea. A significant portion of the population supports the president's impeachment, and the opposition parties have vowed to continue their efforts to remove him from office.

National Assembly Speaker Woo Won Shik expressed regret over the outcome, calling it an embarrassing moment for South Korea's democracy. He emphasized the importance of democratic procedures and the need for a qualified vote on such a critical national issue.

As the political crisis unfolds, the opposition parties are preparing to submit a new impeachment motion when the next parliamentary session begins. Meanwhile, President Yoon's leadership faces increasing scrutiny, and his ability to serve out his remaining term remains uncertain.



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