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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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Tragedy in South Tyrol: Avalanche Claims Lives of Five German Mountaineers


Five German climbers lost their lives after being swept away by a powerful avalanche in the Italian Alps over the weekend. The accident occurred on Saturday afternoon near Cima Vertana in the Ortler mountain range, South Tyrol, at an altitude of more than 3,500 meters.

According to Italy’s alpine rescue services, two separate groups of climbers were caught in the torrent of snow. The first group of three was completely buried, with all members confirmed dead. In the second group, two climbers managed to survive by taking shelter, but a father and his 17-year-old daughter were tragically found lifeless the following morning.

Rescue operations were hampered by poor weather conditions and worsening visibility, forcing teams to delay parts of their search until Sunday. Officials reported that the victims had been dragged to the lower part of the gully where the avalanche struck, making recovery efforts especially difficult.

The Ortler massif, close to the Swiss border, is a popular destination for experienced mountaineers. However, experts have warned that rising temperatures in the Alps are destabilizing snowpacks, increasing the risk of avalanches in high-altitude regions.

Authorities are urging climbers to exercise extreme caution, pay close attention to avalanche bulletins, and avoid risky ascents during late hours when conditions can rapidly deteriorate.

This tragedy underscores the dangers of alpine climbing, even for seasoned mountaineers, and has cast a somber shadow over the mountaineering community in both Germany and Italy.


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