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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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A City Buried: Toronto Endures Its Snowiest Day on Record

 

Residents are being warned of dangerous travel conditions, including the possibility of near-zero visibility at times.


Toronto woke up to a historic winter wallop as an intense snowstorm dumped an astonishing 40–50+ cm across the city, marking the snowiest single day ever recorded. What began as a steady overnight snowfall quickly escalated into a full‑scale weather event that brought much of the region to a standstill.

Roads became nearly impassable by mid‑morning, with plows struggling to keep pace as snow accumulated faster than crews could clear it. Public transit faced widespread delays, and several bus routes were suspended entirely. Pearson International Airport reported dozens of cancellations as visibility dropped and runways required continuous clearing.

Despite the disruption, Torontonians showed their trademark resilience. Neighbours helped dig out buried cars, families turned the drifts into makeshift playgrounds, and social media filled with images of a city transformed into a deep‑winter landscape.

Meteorologists noted that while Toronto is no stranger to heavy snow, the sheer volume within such a short window makes this storm exceptional. As cleanup continues, officials are urging patience—and caution—while the city digs itself out from this record‑breaking winter blast.


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