Skip to main content

Featured

Ottawa Wants to Raise Your Deposit Insurance to $250,000: What Changes (and What Doesn’t)

  For more than 20 years, the federal guarantee on your savings has been stuck at $100,000. In Thursday's budget, Ottawa proposed to raise it to $250,000. Here is what would change, what wouldn't, and why you shouldn't move a dollar yet. Today (unchanged since 2005) $100,000 per deposit category Proposed in Budget 2026 $250,000 per deposit category What Budget 2026 actually proposes The Canada Deposit Insurance Corporation (CDIC) protects your deposits if a member bank fails. The budget proposes amendments to the CDIC Act that would do four things: Raise the limit from $100,000 to $250,000 per deposit category, the first increase in more than two decades. Remove the limit entirely for eligible deposits held in registered and tax-free accounts. Today, the limit is $100,000 per account type at each institution. Add temporary high-balance coverage for life events such as selling a home. Require a review of the deposit insurance framework every 10 years. It isn't law yet. ...
Post a Comment
Read more

article

Labels

Wall Street Rises to Add to Last Week’s Gains

 

World shares tracked Wall Street’s advance today, fueled by cooler-than-expected U.S. employment data. Last week, Wall Street had its best day in more than two months, and today’s gains further contributed to the positive momentum.

Key Highlights:

  1. U.S. Markets:

    • The S&P 500 climbed 1% today, adding to last week’s gains.
    • The Dow Jones Industrial Average rose 0.5%.
    • The Nasdaq composite surged 1.2%.
    • Treasury yields remained steady in the bond market.

  2. Global Markets:

    • European markets started the day with gains. Germany’s DAX edged 0.1% higher, and the CAC 40 in Paris also saw modest gains.
    • Asian markets performed well, with the Hang Seng in Hong Kong closing 0.4% higher and the Shanghai Composite index surging 1.2% after a weeklong holiday.
    • Australia’s S&P/ASX 200 rose 0.7%, and Taiwan’s Taiex gained 1%.
    • Markets in Tokyo and South Korea were closed for holidays.

  3. U.S. Employment Data:

    • The latest private sector survey showed that China’s services sector grew at a slower pace in April due to rising costs, although new orders rose and business sentiment improved.
    • The U.S. added 175,000 jobs last month, down sharply from March’s blockbuster increase of 315,000. Average hourly earnings also rose less than expected.
    • The modest increase in hiring suggests that the Federal Reserve’s aggressive rate hikes may be impacting the economy, potentially leading to a shift in interest rate policy.

  4. Tech Stocks:

    • Friday’s market rally was widespread, with technology stocks leading the gains.
    • Apple jumped 6% after announcing a mammoth $110 billion stock buyback, despite reporting its steepest quarterly decline in iPhone sales since the pandemic began.

In summary, Wall Street’s positive performance today reflects optimism fueled by economic data and strong tech sector gains. Investors are closely watching the Federal Reserve’s next moves as they consider potential interest rate adjustments.

Labels:

Comments

Post a Comment