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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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Icy Blast Halts School Buses Across the GTA



School buses have been cancelled across several parts of the Greater Toronto Area as the region braces for a surge of freezing rain and icy conditions. Student transportation services were suspended Tuesday for the Durham District, York Region, and Halton District school boards, as well as select routes within the Peel District School Board.

Despite the transportation shutdown, schools remain open, with officials urging families to use caution when deciding whether students can travel safely. Other boards across the region have warned of potential delays as the weather system intensifies.

Environment Canada issued a weather warning stretching from London to Belleville, forecasting freezing rain mixed with ice pellets and snow throughout the day. Some areas could see up to five millimetres of ice accumulation, creating slippery roads and walkways and raising the risk of localized power outages.

The storm is expected to move through the region gradually, with conditions improving later in the day. Families are encouraged to monitor local updates and transportation alerts as the situation evolves.


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