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Start Saving Now for September: Your RESP Checklist Before the School Year Hits

  Canadian Money Brief · Family Finance September feels a long way off on July 1. That's exactly why now is the right time to look at your child's RESP — not in late August when the school supply list arrives and the grant math gets rushed. If you have a Registered Education Savings Plan (or you've been meaning to open one), here's what to check right now, and why the calendar year — not the school year — is what actually matters. Why July, Not August The Canada Education Savings Grant (CESG) — the government's 20% match on RESP contributions — runs on the calendar year , not the school year. Grant room for 2026 resets on a January-to-December basis, and it doesn't carry any special "back to school" deadline. But summer is genuinely the best time to check your numbers, for three reasons: You still have six full months left in the year to top up if you're behind. Contributions made now have more time to grow before your child needs the money. You av...
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Daily Markets Update: TSX Closed for Canada Day as Wall Street Notches Best Quarter Since 2020 (July 1, 2026)

 

Wednesday, July 1, 2026 — Canada Day

Happy Canada Day! The Toronto Stock Exchange, TSX Venture, TSX Alpha and Montréal Exchange are closed today for the holiday and will reopen with regular trading hours tomorrow, Thursday, July 2. South of the border, it's business as usual — and Wall Street closed out the first half of the year in style. Here's your full wrap of Tuesday's close and what's moving in markets this morning.

🇨🇦 TSX Snapshot (Closed for Canada Day)

The S&P/TSX Composite booked a modest gain in Tuesday's session — the last day of trading before the holiday — with strength in Healthcare, Clean Technology and IT offsetting softer commodity names.

IndexClose (Jun 30)Change
S&P/TSX Composite34,858.64+0.10%

Leaders: MDA Ltd (+8.50%), Trekor Metals (+8.19%) and Celestica (+6.15%) led gainers, while Silvercorp Metals (-7.24%), Methanex (-5.47%) and Rogers Communications (-4.63%) lagged. Advancers outpaced decliners 503 to 473 on the day.

Looking back at Monday, the index had slipped 0.45% to close at roughly 34,824 as Consumer Staples, Telecoms and Materials names weighed, before Tuesday's healthcare- and tech-led bounce.

📌 Markets are closed today. Trading resumes Thursday, July 2 at 9:30 a.m. ET.

🇺🇸 Wall Street: Best Quarter Since 2020

U.S. markets wrapped up the second quarter — and the first half of 2026 — on a high note. The Dow Jones Industrial Average notched its second consecutive record close, while the S&P 500 and Nasdaq posted their best quarterly performance since 2020, powered by a broad tech rebound.

IndexClose (Jun 30)Change
Dow Jones Industrial Avg.52,319.20+0.26%
S&P 5007,499.36+0.79%
Nasdaq Composite26,213.72+1.52%
Russell 20003,024.37+0.46%

The Dow is now up 8.85% year-to-date after its best first half in five years. The Nasdaq and S&P 500 are up an even more striking 12.79% and 9.55% respectively for the year. Alphabet's debut as a Dow component (replacing an outgoing member) added fuel to the tech-led rally over the past week.

Attention now turns to a holiday-shortened week: the closely watched June U.S. non-farm payrolls report lands Thursday (moved up a day because U.S. markets are closed Friday for Independence Day), with Fed Chair-designate Kevin Warsh speaking at a bankers' conference in Portugal today.

🌍 Global Markets

IndexLevelChange
Nikkei 225 (Tokyo, closed)70,474.96+0.6%
Shanghai Composite (closed)4,112.45+0.4%
Hang Seng (Hong Kong)Closed for holiday
FTSE 100 (London, intraday)10,476.59-0.2%

Tokyo, Shanghai, Singapore, Taipei, Mumbai and Bangkok all advanced overnight, while Seoul's Kospi sank roughly 2% on profit-taking after its blistering run this year. Hong Kong is closed today for its own holiday. In Europe, London and Paris opened lower while Frankfurt ticked higher, with traders keeping an eye on Thursday's U.S. jobs data and ongoing U.S.-Iran talks in Qatar.

💰 Commodities & Currency

AssetPriceChange
Crude Oil (WTI)US$69.61/bbl+0.2%
Brent CrudeUS$73.09/bbl+0.2%
Gold~US$4,030/ozsofter
CAD/USD~0.70little changed

Oil edged higher on optimism around U.S.-Iran negotiations aimed at keeping the Strait of Hormuz open, with Trump envoys Steve Witkoff and Jared Kushner in Doha for talks. Gold stayed on the back foot as safe-haven demand continued to ease. Elsewhere, the Japanese yen slid to its weakest level against the U.S. dollar since 1986, keeping traders on watch for possible Bank of Japan intervention.

👀 What to Watch

  • Thursday, July 2: TSX, TSXV and Montréal Exchange reopen for regular trading.
  • Thursday, July 2: U.S. June non-farm payrolls report — released a day early ahead of Friday's Independence Day holiday closure.
  • Ongoing: U.S.-Iran talks in Doha and any developments around the Strait of Hormuz.
  • Friday, July 3: U.S. markets closed for Independence Day (observed).

Market data reflects confirmed closing prices from Tuesday, June 30, 2026 session and live figures as of early Wednesday, July 1, 2026. This article is for informational purposes only and does not constitute financial advice.

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