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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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Escalation in the Middle East: Iran and Israel Trade Strikes Amid Rising Tensions

The conflict between Iran and Israel has reached a dangerous new level as both nations continue to exchange missile strikes, with leaders on both sides vowing further retaliation in the coming days. 

On Friday, Israel launched a sweeping air offensive, targeting Iranian military sites and nuclear facilities. The strikes resulted in the deaths of several high-ranking Iranian officials, including top generals and nuclear scientists. In response, Iran retaliated with a barrage of missiles and drones, striking key locations in Israel, including Tel Aviv and Jerusalem. Reports indicate that at least four people have been killed and more than 200 wounded in Israel, while Iran has suffered over 80 casualties, including civilians. 

Iran’s Supreme Leader Ayatollah Ali Khamenei has accused Israel of initiating war and warned that Israel "must expect severe punishment" for its actions. Meanwhile, Israeli Defense Minister Israel Katz has threatened further strikes, stating that Tehran will face dire consequences if Iran continues its missile attacks. 

The international community has expressed deep concern over the escalating violence, fearing that the conflict could spiral into a broader regional war. Calls for restraint have been made by global leaders, but both Iran and Israel remain steadfast in their positions, showing no signs of de-escalation. 

As tensions continue to rise, the world watches anxiously, hoping for diplomatic intervention before the situation worsens further.

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