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5 Things to Know Today: Oil Surges, Tariffs Land Tomorrow, Your Gas Tax Break Survives

  Monday, September 7, 2026 — Labour Day | Canadian Money Brief Markets are closed for the holiday, but the week ahead is loaded. Here are five things worth knowing before you head back to your desk tomorrow. 1. Oil Hits a Five-Week High as the Iran Conflict Escalates Crude climbed to $92.06 US/barrel on Saturday — up 17.75% over the past month and nearly 48% year over year — after Iran and the United States exchanged missile strikes this week. Israel's defence minister has threatened "crippling" attacks on Iran's energy infrastructure, the EU has formally joined the US-led sanctions campaign, and US Vice President JD Vance said Washington won't hold peace talks until Iran stops targeting ships in the Strait of Hormuz. What it means for you: Even with the federal gas tax break extended (see #4), pump prices track the price of crude itself. If your tank's getting low, filling up early this week may beat whatever the Strait of Hormuz situation does to prices by...
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Wall Street Futures Surge as Nvidia Fuels AI Rally Ahead of Jobs Report

 

US stock futures climbed sharply on Thursday after Nvidia’s blockbuster earnings reignited confidence in the artificial intelligence trade, easing concerns of an AI bubble. The Nasdaq 100 led gains with futures up nearly 1.8%, while S&P 500 futures rose about 1.3% and Dow Jones futures added 0.7%.

Nvidia shares surged more than 5% in premarket trading after the chipmaker reported stronger-than-expected third-quarter results and issued a bullish revenue outlook for the fourth quarter. CEO Jensen Huang highlighted unprecedented demand for the company’s Blackwell processors, describing sales as “off the charts.” The upbeat forecast reassured investors that the recent cooling in AI-linked stocks was not a sign of long-term weakness.

The rally extended momentum from Wednesday, when the Dow and S&P 500 snapped a four-day losing streak. Other semiconductor stocks, including AMD, Micron, and Broadcom, also advanced in premarket trading, riding Nvidia’s wave of optimism.

However, investors remain cautious as attention shifts to the delayed September jobs report, expected to show around 50,000 new jobs. The data will be closely watched for clues on the Federal Reserve’s next policy moves, especially after recent minutes revealed divisions among policymakers on future rate decisions.

Despite fading hopes for a December interest-rate cut, the market’s focus on AI-driven growth has provided a strong tailwind. With Nvidia’s results setting the tone, Wall Street is bracing for a potentially volatile day as economic data and corporate earnings collide.

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