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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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Big Tech Sparks Market Rally as Apple and Amazon Earnings Lift Wall Street

 

US stock futures staged a strong rebound on Friday, fueled by better-than-expected earnings from Apple and Amazon, which helped restore investor confidence in the technology sector after a volatile week.

The S&P 500 futures climbed 0.7%, while the Nasdaq 100 surged 1.3%, reflecting renewed optimism in Big Tech’s ability to drive market momentum. In contrast, the Dow Jones Industrial Average futures hovered near flat, underscoring the tech-heavy nature of the rally.

Amazon shares soared nearly 13% in premarket trading after the company reported third-quarter results that easily beat Wall Street forecasts. Its cloud division, Amazon Web Services, posted a 20% revenue jump, signaling robust enterprise demand and reinforcing Amazon’s position as a leader in cloud computing.

Apple also impressed investors with stronger-than-expected earnings and upbeat guidance for the holiday quarter, a critical period for iPhone and services sales. The company’s performance reassured markets that consumer demand remains resilient despite broader economic uncertainty.

The rebound comes just a day after the S&P 500 and Nasdaq suffered sharp losses, with Meta’s steepest one-day drop in three years weighing heavily on sentiment. The latest results from Apple and Amazon, however, appear to have shifted the mood, highlighting the continued dominance of Big Tech in shaping market direction.

With most of the so-called “Magnificent Seven” companies now having reported earnings, investors are closely watching how these results will influence broader market trends heading into the year’s final stretch. For now, Wall Street seems encouraged that Big Tech remains a reliable growth engine, even amid global economic headwinds.


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