Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Turmoil in B.C. Conservatives as Rustad Steps Down

 

John Rustad has resigned as leader of the B.C. Conservative Party following a dramatic caucus revolt that saw a majority of MLAs withdraw their confidence in his leadership. The decision came just one day after Rustad publicly declared he would not quit, insisting he was “not going anywhere.” That message has since been deleted.

The revolt reached its peak when 20 Conservative MLAs, representing a caucus majority, signed a letter demanding Rustad’s removal. The party’s board echoed this sentiment, stating Rustad had become “professionally incapacitated.” In response, the caucus installed Trevor Halford as interim leader, marking a swift transition in the party’s leadership.

Rustad, who had led the Conservatives to within one seat of forming government in the October 2024 provincial election, acknowledged the turmoil but rejected suggestions that the revolt was a “hostile takeover” by former BC Liberals who had joined the party. He emphasized that the Conservatives remain committed to their principles, despite the leadership shake-up.

In his resignation statement, Rustad urged members and supporters to rally behind the new leadership, stressing that the party’s progress belongs to “every MLA, every volunteer, every donor, and every British Columbian who believed we could do better.” He confirmed he will continue serving as an MLA, even as the party prepares for a leadership race to determine its future direction.

The resignation underscores the fragile unity within the B.C. Conservatives, who surged in popularity after absorbing defectors from the BC Liberals but now face internal divisions. With Halford stepping in as interim leader, the party must navigate both the fallout of Rustad’s departure and the challenge of maintaining momentum ahead of the next election.

Labels:

Comments

Post a Comment