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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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U.S. Job Market Shows Resilience with 227,000 New Jobs in November


The U.S. job market rebounded strongly in November, adding 227,000 jobs, a significant recovery from October's meager gain of 36,000 jobs. This bounce-back was largely due to the return of Boeing workers and the recovery from recent hurricanes. Despite this positive job growth, the unemployment rate ticked up slightly to 4.2% from 4.1% in October.

The Labor Department's report highlighted that hourly wages rose by 0.4% from October to November and 4% from a year earlier, indicating continued wage growth despite the economic challenges. The job gains were concentrated in healthcare, social assistance, leisure and hospitality, and government sectors.

Economists noted that while the job market remains strong, it has lost some momentum compared to the hiring boom of 2021-2023. The Federal Reserve's interest rate hikes aimed at taming inflation have contributed to this gradual slowdown.

Overall, the November employment report suggests that the U.S. job market is resilient but facing headwinds from higher interest rates and ongoing economic adjustments.




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