Markets Wrap: TSX Hits Record High, Wall Street Mixed Ahead of Jobs Day — June 5, 2026

 

Canadian equities close at all-time highs on geopolitical optimism; U.S. futures dip as investors brace for May employment data; oil hovers near $95.

Friday, June 5, 2026  |  MoneySavings.ca / Canadian Money Brief

🍁 Canada: TSX Hits Record Close

Canadian equities had a standout session on Thursday, with the S&P/TSX Composite Index climbing 1.2% to a record closing high of 35,217 — its best finish ever. The rally was fuelled by improving global risk sentiment following reports of a conditional ceasefire between Israel and Lebanon, which stoked hopes that a broader agreement involving Iran could eventually be reached.

Healthcare, industrial, and financial stocks led the advance. Among the top gainers were Royal Bank of Canada (+1.9%), Toronto-Dominion Bank (+1.2%), Agnico Eagle Mines (+2.9%), and Barrick Mining (+2.1%). On the downside, TransAlta and Transcontinental were the day's weakest performers, falling roughly 10% and 9.8%, respectively.

On the currency front, the Canadian dollar was trading around 72 cents U.S. (USD/CAD near 1.39), with the loonie under mild pressure as interest rate differentials between Canada and the U.S. continue to weigh. Oil prices, which typically support the CAD, remain elevated near $94–$95 per barrel but have pulled back from earlier highs on Middle East ceasefire hopes.

All eyes are on today's Statistics Canada Labour Force Survey for May. Economists are expecting moderate job growth of around 25,000 positions — with RBC projecting the unemployment rate may tick down slightly to 6.8% from April's 6.9%. This report comes ahead of the Bank of Canada's interest rate decision next Wednesday, where the central bank is widely expected to hold its policy rate steady at 2.25%.

📊 Thursday's Key Canadian Numbers

S&P/TSX Composite: 35,217  ▲ +1.2% (Record Close)

CAD/USD: ~$0.72  (USD/CAD ~1.39)

WTI Crude Oil: ~$94–$95/bbl

BoC Policy Rate: 2.25% (hold expected June 11)

U.S. Markets: Dow at Record, Tech Lags

Wall Street had a mixed Thursday session. The Dow Jones Industrial Average surged 875 points (+1.73%) to a fresh record close of 51,562, led by healthcare and financial stocks. UnitedHealth Group (+5.4%), Goldman Sachs (+5.0%), Johnson & Johnson (+4.6%), and JPMorgan Chase (+3.3%) were standout performers as investors rotated out of technology into more defensive sectors.

The S&P 500 gained 0.41%, continuing its run above the 7,600 level, while the Nasdaq Composite edged down 0.09% — weighed by a disappointing near-term outlook from Broadcom, which cast a shadow on AI-related chipmakers.

This morning, U.S. stock futures are pointed lower as investors await the critical May Non-Farm Payrolls report, due before markets open. Expectations call for a gain of roughly 99,000 jobs, with the unemployment rate holding near a decade low of 4.3%. A softer reading could revive speculation about a late-2026 Federal Reserve rate cut. The fragile U.S.–Iran ceasefire also continues to drive day-to-day volatility, with stalled peace negotiations adding uncertainty to the energy and broader market outlook.

📊 Thursday's U.S. Closing Numbers

Dow Jones: 51,562  ▲ +1.73% (Record)

S&P 500: ~7,641  ▲ +0.41%

Nasdaq Composite: ~27,069  ▼ -0.09%

🛢️ Commodities: Oil Holds Near $95, Gold Slips

Oil remains elevated but volatile. Brent crude is trading near $95.25 per barrel this morning, while WTI is around $91–$92, with prices pulling back slightly on optimism over possible Middle East diplomatic progress. That said, oil is still up more than 4% for the week, as meaningful peace talks between Washington and Tehran have yet to materialize. Adding support: EIA data showed U.S. crude inventories fell for a sixth consecutive week, bringing stockpiles close to minimum operating levels. For Canadian energy producers and the loonie, elevated oil remains broadly supportive.

Gold is trading around $4,466 per ounce, down modestly on the day and tracking for a weekly decline of more than 2%. Prices have been pressured by lingering Middle East uncertainty, which is keeping inflation risks and interest rate concerns front and centre. Despite the pullback, gold remains roughly 35% higher than a year ago.

📊 Commodities Snapshot (June 5, 2026)

Brent Crude: ~$95.25/bbl  ▲ +0.23%

WTI Crude: ~$91–$92/bbl

Gold: ~$4,466/oz  ▼ -0.20%

🌏 Asia-Pacific: Tech Selloff Drags Regional Indexes

Asian markets closed broadly lower on Friday. Japan's Nikkei 225 fell 1.31% to 66,588 and Australia's ASX 200 dropped 0.70% to 8,625 as the overnight Nasdaq weakness — triggered by a weak Broadcom outlook — spread across tech-heavy regional markets. South Korea's Kospi plunged 5.54% to 8,161, with semiconductor giants Samsung Electronics and SK Hynix shedding more than 6% and 9.9%, respectively. Seoul's labour minister also added pressure by calling on top tech companies to better distribute AI-driven profits with workers — a headline that unsettled chipmaker stocks further.

Hong Kong's Hang Seng and mainland China's CSI 300 were also lower, while India's Nifty 50 fell modestly. The broader theme across Asia continues to be the tug-of-war between a resilient AI investment cycle and geopolitical uncertainty in the Middle East keeping energy costs elevated and sentiment fragile.

📊 Asia-Pacific Closes (Friday, June 5)

Nikkei 225 (Japan): 66,588  ▼ -1.31%

Kospi (South Korea): 8,161  ▼ -5.54%

ASX 200 (Australia): 8,625  ▼ -0.70%

📅 What to Watch Today

• Canada May Labour Force Survey — Statistics Canada releases its jobs report this morning. Expected: ~25,000 new jobs, unemployment near 6.8%.
• U.S. May Non-Farm Payrolls — The most closely watched data point of the month. A soft number could revive Fed rate-cut bets.
• U.S.–Iran Ceasefire Talks — Markets remain on edge as diplomacy continues with no confirmed breakthrough yet.
• Bank of Canada Rate Decision — Scheduled for Wednesday, June 11. A hold at 2.25% is widely expected.