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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Trump Family Unveils Trump Mobile: A New Wireless Venture with a $499 Smartphone

The Trump Organization has entered the mobile phone market with the launch of Trump Mobile, a new wireless service that carries the former president’s name. Announced at Trump Tower in Manhattan, the venture includes a $499 gold-colored smartphone and a monthly subscription plan priced at $47.45, a nod to Donald Trump’s presidency as the 45th and now 47th U.S. president.  

The service will operate using the networks of major U.S. carriers and promises additional perks such as telemedicine access, roadside assistance, and unlimited international texting. While the Trump family has emphasized that the phone will be designed and built in the United States, details on its manufacturing partner remain undisclosed. 

Eric Trump suggested that initial deliveries of the phone may not be U.S.-made but expressed hopes for future domestic production. The announcement comes amid ongoing scrutiny of the Trump family's business ventures, with critics raising concerns about potential conflicts of interest.  

Despite these concerns, the Trump family remains confident that Trump Mobile will resonate with consumers seeking a wireless service that aligns with their values. The company’s website showcases a sleek smartphone featuring an etched American flag, reinforcing its branding as an "all-American" product. 

With the mobile industry already highly competitive, it remains to be seen how Trump Mobile will fare against established players. However, given the Trump brand’s loyal following, the venture is expected to attract significant attention.

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