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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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Trump and Republicans Set Ambitious 100-Day Agenda with Focus on Tax Cuts


In a bold move, President-elect Donald Trump and the Republican majority in Congress are gearing up for an ambitious 100-day agenda, with tax cuts taking center stage. The plan aims to renew approximately $4 trillion in expiring GOP tax cuts, a hallmark of Trump's first term. 

House Majority Leader Steve Scalise emphasized the urgency of being prepared from Day 1, as GOP lawmakers have been meeting privately with Trump to outline their strategy. The proposed policies will reignite debates on America's priorities, income inequality, and the size and scope of government, especially given the mounting federal deficits nearing $2 trillion annually.

The tax cuts, initially passed in 2017, have significantly benefited higher-income households, with the top 1% receiving substantial reductions. As Republicans prepare to extend and enhance these cuts, they also plan to lower the corporate tax rate further and eliminate taxes on tips and overtime pay.

This ambitious agenda will test whether Trump and his allies can deliver the outcomes voters expect, having granted them control of both Congress and the White House.


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