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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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Wall Street Futures Edge Up Despite Sticky Inflation and Rising Jobless Claims

U.S. stock futures inched higher Thursday morning as investors digested fresh economic data showing inflation remained stubborn in August while jobless claims surged to their highest level in nearly four years.

Futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 each gained around 0.2%, extending momentum from Wednesday’s record-setting session. The August Consumer Price Index rose 2.9% year-over-year, up from 2.7% in July, with a 0.4% monthly increase—slightly above forecasts. The uptick, partly attributed to the impact of President Trump’s tariffs, has not dampened expectations for a Federal Reserve rate cut next week, with markets pricing in a near-95% chance of a quarter-point reduction.

However, the labor market showed signs of strain, as weekly jobless claims jumped to 263,000, signaling potential headwinds for economic growth. On the corporate front, Kroger shares rose after the retailer beat earnings estimates and raised its full-year guidance, while Adobe is set to report later in the day.

Investors now face a delicate balancing act—welcoming potential rate relief while weighing the risks of a slowing economy.


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