Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
China Warns 'No One Will Win a Trade War' After Trump's Tariff Threat
China has issued a stern warning to U.S. President-elect Donald Trump following his announcement of a 10% tariff on all Chinese imports. The Chinese Embassy in Washington emphasized that "no one will win a trade war," highlighting the mutual benefits of U.S.-China economic and trade cooperation.
Trump's proposed tariffs are part of his broader strategy to combat illegal immigration and drug trafficking, particularly fentanyl. He stated that these tariffs would remain until China takes significant measures to halt the flow of drugs into the United States.
Chinese officials have pushed back against these claims, pointing to recent efforts to curb the export of fentanyl precursors and other narcotics-related measures. The embassy spokesperson, Liu Pengyu, reiterated that the idea of China knowingly allowing fentanyl precursors to flow into the U.S. runs counter to facts and reality.
As tensions escalate, the global community watches closely, aware that a trade war between the world's two largest economies could have far-reaching consequences.
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