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The GST/HST Credit Has a New Name — And It's Paying 25% More

  Sunday, July 19, 2026 If you've relied on the quarterly GST/HST credit, that name is gone for good. Here's what replaced it, how much more it's worth, and whether you need to do anything to get it. For years, the GST/HST credit quietly landed in millions of Canadian bank accounts every three months — a modest, tax-free top-up meant to offset sales tax on everyday purchases. As of this month, that program no longer exists under its old name. It's now the Canada Groceries and Essentials Benefit (CGEB) , and the federal government has permanently increased the payment by 25%, locked in for five years. If you already qualified for the GST/HST credit, you don't need to apply for anything new. But you should know what changed, because the numbers — and the timeline — are more involved than a simple rename. What actually changed The CGEB was first announced by the federal government in January 2026 as part of a broader affordability push, and it became law with the passa...
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Daily Markets Update: Peace Deal Lifts Global Sentiment | June 15, 2026



S&P/TSX Composite (Canada)

34,937.85
+0.77% (+266 pts)

Friday close | Strong week building

S&P 500 (US)

7,431.46
+0.50%

Tech rebounds; AI dominance continues

Dow Jones Industrial Average

51,202.26
+0.70% (+354 pts)

SpaceX IPO boost lifts sentiment

Nasdaq Composite

25,888.84
+0.31%

Tech sector stabilizing post-volatility

🔑 Key Market Drivers

US-Iran Peace Deal Optimism: Markets rallied Friday after news of a potential deal to reopen the Strait of Hormuz and lift oil sanctions. Oil prices tumbled—crude fell significantly—easing inflation concerns for consumers and businesses across North America.
SpaceX Historic IPO: SpaceX opened at $150/share (above its $135 IPO price) and surged to $161.11—a stunning 19% first-day gain. The debut strengthened confidence in mega-cap tech and growth stocks, lifting the entire market sentiment.
Canadian Dollar Softening: The loonie dipped to 0.7148 USD on Friday, down from 0.7240 USD earlier in the week. Weakness in commodity prices (especially oil) and rate expectations continue to pressure the Canadian dollar—a mixed bag for exporters but a headwind for Canadian consumers buying US goods.

📊 What to Watch This Week

  • University of Michigan Consumer Sentiment (Today, 10 a.m. ET): Consensus expects a rebound to 46 from 44.8 last month—still near historic lows. Consumer confidence will be critical as inflation persists.
  • Tech Sector Concentration Risk: 10 S&P 500 stocks now represent nearly 40% of the index's value, all with AI connections. The S&P 500 Equal Weight Index may offer a truer picture of breadth.
  • Rate Expectations: With the Bank of Canada holding steady at 2.25%, markets will watch for any signals on future cuts as the Fed remains data-dependent.
  • Energy Markets Vulnerable: While the peace deal is positive, geopolitical tensions could reverse quickly. Monitor crude oil and Canadian energy stocks closely.

💡 For Canadian Investors

The TSX's solid +0.77% finish reflects strength across consumer discretionary, healthcare, and materials. However, energy lagged—a reminder of Canada's commodity exposure. With the Canadian dollar under pressure and oil prices retreating, exporters face headwinds but importers and foreign-currency earners benefit.

If you're holding Canadian dividend stocks or bonds, watch for any shifts in the Bank of Canada's stance. A weaker loonie can make US-listed ETFs look more attractive on a currency-adjusted basis.

🌍 Global Markets at a Glance

  • Oil (WTI Crude): Sliding toward $80–85/barrel on peace deal optimism. A breakthrough could drive further declines, easing pump prices and heating costs.
  • Gold: Steady, trading near $3,220–$3,225/oz. Geopolitical uncertainty and lower real yields keep precious metals supported.
  • Bitcoin: Hovering near $65,600. ETF flows remain negative, signaling caution among investors.

Today's opening bell brings fresh momentum from Friday's rally. Investors should brace for continued volatility in tech and monitor any news from the Middle East that could shift oil prices and market sentiment.

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