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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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Canadian Military Issues Historic Apology for Racial Discrimination

 

Gen. Jennie Carignan, chief of the defence staff, delivers an apology on behalf of the Canadian Armed Forces to current and former CAF members and their families who have experienced racial discrimination and racial harassment in connection to their military service in Ottawa on Thursday.


The Canadian Armed Forces (CAF) has taken a significant step toward reconciliation and accountability as Chief of the Defence Staff Gen. Jennie Carignan delivered a formal apology for the military’s long history of racial discrimination and harassment. Speaking in Ottawa, Carignan acknowledged the systemic barriers and mistreatment faced by First Nations, Inuit, Métis, Black, Asian, and other racialized members of the CAF over decades.

In an emotional address, Carignan admitted that the institution had failed its members by not creating an environment where all could serve equally and with dignity. She emphasized that the apology was not just symbolic but part of a broader commitment to tangible reforms aimed at addressing systemic racism within the ranks. “We all know that an apology that is not accompanied by a tangible effort to address our failures, to remedy wrongs, would be hollow and without real meaning,” she said.

The apology was also delivered alongside Chief Warrant Officer Bob McCann, who joined Carignan in recognizing the pain and exclusion experienced by racialized service members and their families. Both leaders pledged to ensure that the CAF becomes a more inclusive institution, where diversity is respected and valued.

This moment marks a historic milestone for the Canadian military, which has faced longstanding criticism for its handling of racial discrimination and harassment complaints. For many veterans and active members, the apology represents long-overdue recognition of their struggles. However, Carignan stressed that the real test will be in the actions that follow—ensuring that policies, leadership, and culture within the CAF evolve to prevent future injustices.

The apology has been welcomed by advocacy groups and community leaders, though many have underscored the importance of accountability and measurable progress. As Canada continues to reckon with its broader history of systemic racism, the CAF’s acknowledgment stands as both a reckoning with the past and a promise for a more equitable future.


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