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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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Beijing Tightens Grip on Shipping Amid Escalating US Trade Clash

China has intensified its trade dispute with the United States by imposing new restrictions on the shipping sector, targeting American subsidiaries of South Korea’s Hanwha Ocean Co. The move, announced by Beijing’s Ministry of Commerce, prohibits Chinese entities from conducting business with five US-based units of the shipbuilding giant.

The sanctions come as part of a broader tit-for-tat struggle between the world’s two largest economies, each seeking leverage ahead of anticipated trade talks. Washington has previously imposed curbs on Chinese maritime and logistics firms, citing concerns over unfair competition and national security.

Markets reacted swiftly to the news, with global equities dipping as investors grew wary of prolonged tensions. Hanwha Ocean’s shares fell sharply in Seoul, while Chinese shipbuilders saw a boost in trading.

Analysts warn that the latest escalation could disrupt global shipping routes and increase costs for international trade, particularly if both sides expand restrictions. With maritime dominance at the heart of the dispute, the standoff underscores the fragile state of US-China relations and the potential ripple effects across global supply chains.


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