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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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Markets Reel as Escalating Iran Conflict Sends Futures Tumbling

 

US stock futures slumped sharply on Tuesday as renewed US–Israel airstrikes on Iran intensified fears of a prolonged regional conflict and triggered a broad risk‑off shift across global markets. Futures tied to the Dow Jones Industrial Average and S&P 500 fell around 1.4%, while Nasdaq 100 futures led the downturn with losses nearing 1.8%. Rising oil prices—driven by concerns over disrupted supply—added further pressure on investor sentiment. 

The sell-off reflects growing unease after markets initially managed to stabilize on Monday despite early volatility. Tech stocks, which had briefly shrugged off the geopolitical shock, were hit hardest as investors reassessed risk exposure. Nasdaq futures were down more than 2% ahead of the opening bell, with major chipmakers like Nvidia and Micron sliding in pre‑market trading. 

The broader backdrop remains tense: surging crude prices, heightened inflation worries, and uncertainty over the trajectory of the conflict have combined to undermine confidence across equities. Analysts note that even before the latest escalation, markets were already grappling with fragile sentiment tied to slowing earnings visibility and concerns about global growth. 

While Monday’s session saw a partial rebound—helped by dip‑buyers stepping in—the renewed strikes have erased that momentum. Investors now face a volatile environment where geopolitical developments may continue to overshadow economic fundamentals in the near term. 


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