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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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Russia Launches Largest Drone Strike on Ukraine Amid Escalating Conflict

In a dramatic escalation of hostilities, Russia launched 479 drones and 20 missiles in an overnight assault on Ukraine, marking the largest drone strike since the war began over three years ago. The attack primarily targeted central and western Ukraine, with Ukrainian air defenses managing to intercept 277 drones and 19 missiles before they could reach their destinations. Despite these efforts, 10 projectiles successfully hit their targets, leaving one person injured.

The aerial bombardment comes as Russia intensifies its ground offensive along the 1,000-kilometer front line, particularly in the eastern and northeastern regions. Ukrainian President Volodymyr Zelensky described the battlefield situation as "very difficult", reiterating Ukraine’s urgent need for Western military support, especially air defense systems.

Meanwhile, Ukraine has continued its counteroffensive, claiming a special operation at Savasleyka airfield in Russia’s Nizhny Novgorod region, where two Russian fighter jets were reportedly struck. The Kremlin has yet to comment on the incident.

Despite recent peace talks in Istanbul, negotiations have yielded little progress beyond agreements on prisoner exchanges and the return of fallen soldiers. As both sides continue their military campaigns, the prospect of a ceasefire remains uncertain.


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