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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 Holds Steady as S&P 500 Hits Record Ahead of Christmas Break

Market Snapshot – December 24, 2025

  • Dow Jones Futures: Flat at 48,735 points
  • S&P 500 Futures: Near 6,957 points, little changed after Tuesday’s record close
  • Nasdaq 100 Futures: Slight dip of 0.1% to 25,796.5 points
  • S&P 500 Index: Closed Tuesday at 6,909, its latest all-time high

Key Drivers

  • Robust economic growth continues to fuel investor optimism.
  • Seasonal “Santa Claus rally” has lifted stocks for four consecutive sessions.
  • Markets will close early today at 1 p.m. EST and remain shut tomorrow for Christmas Day.
  • Traders remain cautious about inflation and potential Federal Reserve rate cuts in 2026.

Quick Take

Wall Street enters the holiday season on a high note, with the S&P 500 near the 7,000 mark and futures showing little movement. The shortened trading session means liquidity will be thin, amplifying small moves. Still, the overall tone remains upbeat, with investors betting that the year-end rally will carry into the final days of 2025.


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