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TSX Slips on Mining Weakness as Wall Street Holds Near Record Highs Ahead of Jobs Data

  Tuesday, June 30, 2026 Canadian and global markets are wrapping up the second quarter on a cautious note, with the TSX pulling back on gold and mining weakness even as Wall Street rides the momentum of Monday's record-setting session into the holiday-shortened week. Here's how every major market is positioned heading into Thursday's critical U.S. jobs report. 🇨🇦 TSX The S&P/TSX Composite fell 0.4% in its most recent session to close at 34,824, weighed down by losses in mining and technology. Gold prices declined as easing geopolitical tensions reduced safe-haven demand, pressuring miners — Agnico Eagle and Wheaton Precious Metals each fell more than 2%, while Franco-Nevada dropped 3.6%. Tech shares also underperformed despite a strong session on Wall Street, with Shopify down 2%. On the upside, financials advanced as oil prices held near pre-conflict levels following the U.S.-Iran truce: RBC gained roughly 1%, while TD Bank and BMO each rose 0.6%. Investors are now...
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U.S. Treasury Secretary Warns of Approaching Debt Ceiling Crisis


Treasury Secretary Janet Yellen has issued a stark warning that the United States could hit its debt ceiling as early as mid-January. In a letter to congressional leaders, Yellen stated that her agency would need to begin taking "extraordinary measures" to prevent the nation from breaching the debt limit. These measures are special accounting maneuvers intended to keep the government operating without defaulting on its obligations.

Yellen emphasized the urgency of the situation, urging Congress to act swiftly to protect the full faith and credit of the United States. The debt ceiling, which had been suspended until January 1, 2025, is expected to be reinstated on January 2, 2025. However, due to a scheduled redemption of nonmarketable securities held by a federal trust fund associated with Medicare payments, the Treasury does not expect to need to take extraordinary measures until January 14 to January 23.

The federal debt currently stands at approximately $36 trillion, a figure that has grown significantly over the years under both Republican and Democratic administrations. The spike in inflation following the COVID-19 pandemic has further increased government borrowing costs, making the situation even more critical.

Yellen's warning comes after President Joe Biden signed a bill last week that averted a government shutdown but did not address the debt ceiling issue. The bill was passed only after intense debate among Republicans over how to handle President-elect Donald Trump's demand to raise or suspend the debt limit.

As the new year approaches, the nation's fiscal health hangs in the balance, with lawmakers facing a critical decision on how to address the impending debt ceiling crisis.




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