Current Economics
Markets are closed for the weekend. Here is a quick recap of the week that was, what is developing over the weekend, and what to watch when trading resumes Monday.
Published 2026-08-15 · Educational information only
Stocks capped a third straight week of gains despite a bumpy finish. The TSX and S&P 500 both set fresh record highs through midweek — the S&P 500 briefly topped 7,800 for the first time on Thursday — as cooling July CPI (3.4%) and Producer Price Index (4.7%) reports eased pressure on the Federal Reserve. The rally stalled Friday after July retail sales fell 0.6%, the steepest drop in over a year and the first decline in nine months, while University of Michigan consumer sentiment plunged about 8% to a preliminary reading of 51. That pulled the S&P 500 (-13.23 to 7,785.76), Dow (-107.58 to 53,732.41), Nasdaq (-73.86 to 26,729.16), and TSX (-29.02 to 36,730.27) all lower to close out the week.
The Strait of Hormuz blockade continues to disrupt global trade and shipping — Danish shipping giant Maersk raised its 2026 earnings guidance for the second time this year, citing the ongoing disruption. Energy markets stay sensitive to any weekend developments there, after oil fell more than 2% Thursday (WTI near US$81, Brent near US$87) and held near that level into Friday.
Monday brings Canada's July CPI report, with RBC Economics forecasting a pickup to about 2.9% year over year (from 2.8% in June) on renewed gasoline-price pressure. Wednesday brings the minutes from the Federal Reserve's July meeting, a key read on the path for rates. Friday brings Canadian retail sales for June. The Bank of Canada's next rate decision remains September 2.
This week's reversal is a reminder that record highs can turn quickly on a single data surprise. Weekend headlines — especially on the Strait of Hormuz — can move markets sharply before Monday's open. If any of this has you wondering whether to change something in your portfolio or plan, that is a good reason to book a 30-minute session on Monday rather than make a decision based on one week's news.
Markets move daily. Start with a 30-minute session to see how today's news connects to your own plan. No guaranteed outcomes are promised.
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