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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Trump Faces $350 Million Judgment in Civil Fraud Trial

 


In a significant legal development, Donald Trump has been slapped with a $350 million judgment by a New York State Supreme Court judge. The ruling comes after a 2½-month trial that exposed what the judge deemed a years-long scheme orchestrated by Trump to deceive banks and others through inflated financial statements. Here are the key details:
  1. Verdict: The judge ruled against Trump, imposing a $364 million penalty for fraudulent business practices in the state of New York.
  2. Deceptive Practices: Trump’s wealth, fame, and the White House were built on a multinational collection of properties, including skyscrapers and golf courses. However, the court found that his success was not just a result of harmless bragging but rather a pattern of deceptive practices.
  3. Three-Year Ban: In addition to the hefty fine, Trump has been barred from serving as an officer or director of any New York corporation for three years.
  4. Appeal: Trump’s legal team has already indicated their intention to appeal the decision.

This landmark judgment is a victory for New York Attorney General Letitia James, who filed the lawsuit against Trump. The former president’s legal battles continue, and the repercussions of this ruling are likely to reverberate in both legal and political circles.


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