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...
Trudeau's Zoom Call Sparks Cabinet Shake-Up: Freeland Out, Carney In
In a surprising turn of events, Prime Minister Justin Trudeau informed Finance Minister Chrystia Freeland over a Zoom call that she would be replaced by Mark Carney. This unexpected move has sent shockwaves through the political landscape, raising questions about the future direction of Canada's economic policies.
Freeland, who has been a key figure in Trudeau's cabinet, reportedly received the news during a virtual meeting, highlighting the modern approach to significant political decisions. The decision to replace Freeland with Carney, a former Governor of the Bank of Canada and the Bank of England, suggests a shift towards a more technocratic approach to managing the country's finances.
The announcement has sparked a flurry of reactions from political analysts and the public alike. Many are speculating about the reasons behind this sudden change and what it means for the Liberal government's economic strategy moving forward. Freeland's departure marks the end of an era, and Carney's appointment signals a new chapter in Canada's financial leadership.
As the dust settles, all eyes will be on Carney as he steps into his new role, tasked with navigating the country through its economic challenges and opportunities. The political landscape in Ottawa is sure to be closely watched in the coming days as further details emerge about this significant cabinet reshuffle.
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