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5 Things to Know Today: Retaliation Tariffs Hit, Oil Spikes on Saudi Strikes

  Tuesday, September 8, 2026 — Your morning rundown of the Canadian financial news that actually affects your wallet. 1. Canada's $27.6B Retaliation Tariffs Take Effect At 12:01 a.m. today, Canada's countermeasures against more than 700 U.S. products came into force, matching Washington's August 22 tariffs dollar-for-dollar. Tariffs on American steel and aluminum double to 50%, while new levies of 15% to 50% now apply to dairy, appliances, agricultural equipment, pulp and paper, and electronics. A $7.5-billion support package is rolling out for affected Canadian businesses. What it means for you: U.S.-made appliances (fridges, freezers, washers, dryers, ranges) now carry a 25% tariff, and cheese, whey, and milk powder imports jump 25%–50%. Shopping for a new appliance or specialty dairy product? Expect price increases to show up at retail over the coming weeks. 2. Oil Surges to ~$99 on Overnight Saudi Strikes Overnight strikes on Saudi energy facilities pushed Brent crude...
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Stock Market Today: Indexes Slip As Traders Await Nvidia Earnings

 


US stocks slid lower on Wednesday as traders looked ahead to Nvidia’s highly anticipated first-quarter earnings report and took in the latest commentary from Federal Reserve speakers. Here are the key points:

  1. Market Performance:
    • All three benchmark indexes traded lower.
    • Bond yields ticked higher, with the 10-year Treasury yield rising three basis points to 4.451%.
  1. Nvidia Earnings:
    • Investors eagerly awaited Nvidia’s earnings report.
    • The company reported adjusted earnings per share (EPS) for the quarter of $6.12 on revenue of $26 billion, representing a significant jump of 461% and 261%, respectively, from a year ago.
    • Analysts had expected adjusted EPS of $5.65 on revenue of $24.69 billion.
    • Nvidia also announced plans for a ten-for-one stock split, set to take effect on June 7.
  1. Federal Reserve Minutes:
    • Markets reacted to the minutes from the Federal Reserve’s May meeting.
    • The minutes revealed that “various” Fed officials mentioned a “willingness to tighten policy further should risks to inflation materialize in a way that such an action became appropriate.”

In summary, the stock market faced two significant tests today: Nvidia’s pivotal earnings report and the Fed’s cautious stance on inflation risks. Investors closely monitored these developments, leading to a slight decline in major indexes.


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