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Stocks Rip to Records as Oil Craters on Iran De-Escalation Hopes

August 5, 2026 Global markets roared into record territory Tuesday as easing fears over a Middle East oil shock sent crude prices tumbling and investors piled back into stocks. The Dow closed above 54,000 for the first time ever, the S&P 500 hit its first record high since June, and the TSX bounced back hard from its Civic Holiday closure. Here's everything you need to know before the market opens today. 🇨🇦 TSX: Back With a Bang Canadian markets reopened Tuesday after Monday's Civic Holiday closure, and investors made up for lost time. The S&P/TSX Composite Index surged 575.45 points, or 1.63%, to close at 35,801.59 — one of its strongest single-day gains of the year — clawing back all of Friday's 0.79% pullback and then some. Index Close Change S&P/TSX Composite 35,801.59 +575.45 (+1.63%) TSX Venture 898.89 +3.66% The rally was broad-based, with financials and miners leading the charge: Brookfield Asset Management jumped more than 6% after officially comple...
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UK and Canada’s Free-Trade Deal Talks Break Down Over Agricultural Products

 

The UK and Canada have failed to reach a free-trade deal after almost two years of negotiations. The UK was pushing to extend a temporary arrangement allowing exports of British cheese to Canada under low tariffs, similar to those enjoyed by EU members. Canada, for its part, had hoped to secure UK access for its beef and pork, which do not currently meet British regulatory standards. 

The UK government spokesperson said that Britain will only negotiate trade deals that “deliver” for its people. The breakdown in talks effectively leaves the UK at risk of being in a worse position than it was as a member of the bloc when it comes to Canada trade. The UK is Canada’s third-largest, single-country trading partner at over C$46 billion ($34 billion) a year, according to the Canadian government. The UK ranks Canada as its 18th-largest trading partner.

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