Skip to main content

Featured

5 Things to Know Today: Oil Tops $100, Tariffs Take Effect, TSX Slides — Sept 9

  September 9, 2026 Here's what's moving markets and your wallet today — from a fresh oil shock to a stock that just had its worst week in months. 1. Oil Tops $100 a Barrel for the First Time Since July Brent crude broke back above $100 a barrel overnight after Houthi drones and missiles struck Saudi Aramco energy facilities in Jazan, Abha and Najran, wounding more than 70 people and halting operations at several sites. The attacks followed U.S. strikes on Iranian oil tankers over the weekend, deepening a Middle East conflict now in its seventh month. What it means for you: Ottawa's fuel excise tax pause (extended to Jan. 31, 2027) is holding, but it can't offset a rising crude price — CAA's national average sits at 179.9¢/L today, up from 170.5¢/L just five weeks ago. If your tank is low, fill it before this keeps climbing. 2. TSX Slides for a Second Straight Day The S&P/TSX Composite closed Tuesday at 36,123.05, down 390.75 points (-1.07%), its second consecu...
Post a Comment
Read more

article

Labels

S&P/TSX Composite Index Faces Broad-Based Decline Amidst U.S. Market Strength

 

 Canada’s main stock index, the S&P/TSX composite, closed lower on Wednesday in a broad-based decline. The subdued trading session coincided with U.S. markets being closed for the Juneteenth holiday.

The key points are as follows:

  1. Market Performance:

    • The S&P/TSX composite index closed 94.40 points lower at 21,516.90.
    • This decline continues a trend that has seen the TSX index down approximately 4.4% over the last month.
    • In contrast, the S&P 500 in New York has risen by 3.5% during the same period.

  2. Two Markets, Different Trajectories:

    • Michael Currie, senior investment adviser at TD Wealth, highlighted the divergence between U.S. and Canadian markets. While the U.S. market remains strong, Canada’s market has been weakening.
    • Currie stated, “It’s certainly not crashing by any stretch, but the general trend has been negative, and that seems to be more of what’s continuing today.”

  3. Sector Performance:

    • The industrial and health care sectors led the declines, down approximately 0.95% and 1.1%, respectively.
    • Financials were down 0.5%, and energy declined by about 0.2%.
    • The Canadian dollar traded at 72.94 cents US, slightly higher than the previous day.

  4. Bank of Canada’s Decision:

    • The Bank of Canada recently lowered its key rate for the first time in over four years. Deliberations around this decision showed some hesitancy, but markets still anticipate another rate cut in July.
    • There is concern that as rates decrease, the Canadian dollar (the loonie) may weaken against the U.S. dollar.

  5. Commodity Markets:

    • Commodity markets were also closed due to the U.S. holiday.

In summary, while the S&P/TSX composite index experienced a decline, the broader context involves contrasting market trajectories between Canada and the U.S. Investors will closely watch further developments and central bank decisions in the coming weeks.


Labels:

Comments

Post a Comment