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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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Canada’s Inflation Steady, Grocery Costs Surge to Two-Year High

Grocery prices have trended mostly upwards this year, say economists at RBC, "consistent with rising agricultural commodity prices over the first half of 2025." 

Canada’s annual inflation rate remained unchanged at 2.2% in November, signaling stability in overall consumer prices. However, beneath the headline figure, households are feeling the pinch at the checkout counter. Grocery prices recorded their sharpest increase in nearly two years, driven by higher costs for fresh produce, meat, and dairy.

Economists note that while energy and housing costs showed little movement, food inflation is becoming a key pressure point for families. Rising global commodity prices and supply chain challenges have contributed to the uptick, leaving many Canadians adjusting their budgets to accommodate more expensive essentials.

The Bank of Canada is expected to monitor these trends closely, as persistent food inflation could influence future monetary policy decisions. For now, the steady overall inflation rate offers reassurance, but the surge in grocery costs highlights the uneven impact of price changes across different sectors of the economy.


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