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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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Border Tensions Erupt: Deadly Clash Between Pakistan and Afghanistan

                                     A Taliban fighter sits on a tank on Afghanistan's border with Pakistan 

Heavy gunfire and shelling broke out late Friday night along the Pakistan-Afghanistan border, resulting in multiple casualties and escalating already fragile relations between the two neighbors. The fighting occurred at the Chaman-Spin Boldak crossing, a major transit point between southern Afghanistan’s Kandahar province and Pakistan’s Balochistan region.

According to Afghan officials, four civilians and one soldier were killed, while several others sustained injuries during the exchange. Hospitals in Chaman reported treating wounded individuals, with some discharged after minor injuries. Both sides accused each other of initiating “unprovoked” attacks, despite a ceasefire agreement reached after deadly clashes in October.

Witnesses described a chaotic scene as mortar shells and gunfire rattled homes near the border. Afghan Taliban spokesman Zabihullah Mujahid claimed Pakistani forces launched the first attack, forcing Afghan troops to respond. Pakistani officials, however, countered that Afghan forces violated the truce by opening fire without provocation.

The incident comes just days after peace talks in Saudi Arabia collapsed, leaving relations between Islamabad and Kabul at a low point. Analysts warn that the border, already a flashpoint due to disputes over fencing and cross-border militancy, could see further violence if diplomatic efforts fail.

The Chaman-Spin Boldak crossing has long been a sensitive area, vital for trade and movement but frequently disrupted by clashes. October’s fighting had already left dozens dead, and this latest flare-up underscores the volatility of the frontier.

For civilians living near the border, the renewed violence is a grim reminder of the fragile peace. With both governments trading blame, prospects for stability remain uncertain.


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