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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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Unprecedented Heatwaves Highlight Urgent Climate Crisis

 

In recent months, numerous regions around the globe have been grappling with record-breaking heatwaves, underscoring the escalating impacts of climate change. From North America to Europe, Asia, and beyond, temperatures have soared to unprecedented levels, causing widespread concern among scientists and the public alike.

In the United States, Death Valley experienced temperatures exceeding 125°F (51.7°C) for nine consecutive days in early July, while Las Vegas shattered its all-time heat record at 120°F (48.9°C). Similarly, Europe has faced extreme heat, with countries like Spain and Greece enduring prolonged periods of high temperatures, exacerbating the risk of wildfires.

The situation is equally dire in other parts of the world. In Saudi Arabia, over 1,000 people succumbed to the heat during the Hajj pilgrimage, as temperatures soared to 125°F (51.8°C) at the Grand Mosque in Mecca. Meanwhile, Pakistan’s hospitals have been overwhelmed by heat-related illnesses amid frequent power outages and water shortages.

These extreme heat events are not isolated incidents but part of a broader trend driven by climate change. The global average temperature has been steadily rising, with each of the past 13 months setting new records for that month. The European Union’s Copernicus Climate Change Service reported that the planet experienced its hottest day in at least eight decades on July 21, only to break that record again the following day.

As greenhouse gas emissions continue to warm the Earth’s atmosphere, the frequency and intensity of heatwaves are expected to increase. This alarming trend highlights the urgent need for global action to mitigate climate change and adapt to its inevitable impacts.


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