5 Things to Know Today: TSX Hits a Record and Nvidia Earnings Loom

 

August 26, 2026

Bank earnings are rolling in, the TSX just set a fresh all-time high, and Nvidia's after-hours report tonight could set the tone for the rest of the week. Here's what's moving markets and your wallet today.

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1. The TSX closed at a record 36,957.63

The TSX gained 243.51 points (+0.66%) on Tuesday, a fresh closing high, powered by strong bank earnings. Scotiabank jumped 7% and BMO rose 0.6% after both beat Q3 estimates, with National Bank reporting Wednesday and RBC, TD, and CIBC due Thursday. Gold miners also contributed to the gains.

What it means for you: If you hold Canadian bank stocks in an RRSP or TFSA, this week's earnings parade is worth watching — strong results can support dividend stability, which matters most if you're relying on those payouts for retirement income.

2. Nvidia reports earnings after today's close

Nvidia's results land after the bell today, and given the chip sector's recent volatility — Micron, AMD, and Broadcom all sold off Monday — traders are treating this as a bellwether for the broader tech rally. A miss could ripple into Thursday's TSX session given how tied Canadian markets have become to U.S. tech sentiment.

What it means for you: If your portfolio or index fund has meaningful U.S. tech exposure, expect some volatility tomorrow morning regardless of the result — good news to know before you check your balance.

3. Canada's Sept. 8 retaliation tariffs are now confirmed and bigger than expected

Ottawa has confirmed retaliatory tariffs on roughly $20 billion of U.S. goods across more than 700 product lines, taking effect September 8. Steel and aluminum counter-tariffs are being doubled to 50%. The list still touches the sectors named earlier this week: steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics.

What it means for you: If you're due for a major appliance or electronics purchase, buying before Sept. 8 could save you money once these tariffs push import costs higher.

4. The loonie is holding steady near 72 cents US

The Canadian dollar sat around 1.3861 USD/CAD (about 72 cents US) Tuesday, holding close to its recent multi-week high even as gold pulled back slightly from Tuesday's near-$4,720 three-month peak to the $4,676–$4,700 range.

What it means for you: A firmer loonie makes now a comparatively better time for U.S. online shopping or a fall trip south of the border than it's been for most of the summer.

5. The federal gas tax holiday expires in 12 days

The gas tax holiday winds down September 7, and pump prices could tick back up shortly after. With oil easing for a third straight session (Brent near $86.38, WTI near $80.20) on cooling Iran-related supply fears, there may be a small window to fill up before both the tax and any oil price rebound hit at once.

What it means for you: If you've got a long drive or a full tank of errands coming up, doing it in the next week or two could beat the post-holiday price bump.

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Also on our radar: Friday's Jackson Hole speech from new Fed Chair Kevin Warsh, and the Bank of Canada's Sept. 2 rate decision, where an eighth straight hold at 2.25% is still favoured but slightly less certain after July's hot 3.0% CPI print.