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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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Historic Arrest: Sri Lanka’s Ex-President Wickremesinghe Remanded in State Funds Misuse Probe

                         Sri Lanka's former President Ranil Wickremesinghe arrives at the Magistrate’s Court in Colombo


Former Sri Lankan President Ranil Wickremesinghe, 76, has been arrested and remanded until August 26 over allegations of misusing state funds during his tenure. This marks the first time in the nation’s history that a former executive president has been taken into custody on such charges.

The Criminal Investigation Department (CID) alleges that Wickremesinghe used public money to cover expenses for a private trip to London in September 2023, where he attended a university event linked to his wife, Prof. Maithree Wickremesinghe. The visit reportedly coincided with his return from official duties in the United States.

Court proceedings at Colombo Fort Magistrate’s Court saw bail denied after prosecutors argued the investigation was ongoing and evidence was still being compiled. Following the ruling, Wickremesinghe was transferred to the prison hospital due to elevated blood sugar and blood pressure levels.

A veteran political figure who served as president from 2022 to 2024, Wickremesinghe is credited with steering Sri Lanka through its worst economic crisis in decades, though his tenure was marked by unpopular austerity measures. Allies from his United National Party have called the charges politically motivated, while government officials have yet to comment.

The case has sparked intense public debate, underscoring both the deep political divides in Sri Lanka and the growing scrutiny of leaders accused of corruption.

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