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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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Trump Declares 100% Tariff on Foreign-Made Films, Sparking Industry Uncertainty

 

                                           The Hollywood sign is seen in Hollywood.


U.S. President Donald Trump announced that his administration will impose a 100% tariff on all movies produced outside the United States, a move that has sent shockwaves through Hollywood and the global film industry.

Posting on his Truth Social account, Trump argued that America’s film business has been “stolen” by foreign countries offering lucrative tax incentives to lure productions abroad. He singled out California as being “particularly hard hit,” despite the state’s own incentive programs aimed at keeping productions local.

Industry experts warn that such a tariff could be nearly impossible to enforce, given the complex, international nature of modern filmmaking. Many U.S. blockbusters are partially shot overseas, raising questions about whether they would also be subject to the levy.

Critics say the policy could backfire, driving up costs for American studios and potentially triggering retaliatory tariffs from other countries. With international markets accounting for more than 70% of Hollywood’s box office revenue, the measure could disrupt a business model that heavily relies on global audiences.

While Trump has not specified when or how the tariffs would take effect, the announcement underscores his broader protectionist trade agenda. For now, the film industry is bracing for what could be one of the most disruptive policies in its history.


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