https://www.cnbc.com/2026/06/02/job-openings-april-2026.html
The Canadian provinces currently receiving equalization payments (for 2025–26 and 2026–27 fiscal years) are:
Amounts can change slightly year to year based on economic data, but the list of recipient provinces has been stable in recent years (with Ontario and Newfoundland and Labrador receiving smaller/occasional amounts)
Oil prices rose more than 3 per cent on Monday after Iran and the U.S. traded strikes and Israel ordered troops to move further into Lebanon in its battle with Tehran-backed Hezbollah.
Brent futures were up US$2.68 or 3 per cent at US$93.80 a barrel at 7:21 a.m. ET. U.S. crude futures rose US$3.03 or 3.5 per cent to US$90.39 a barrel.
Over May, Brent and WTI lost around 19 per cent and 17 per cent, respectively. It was both contracts’ biggest monthly fall in absolute terms since March 2020 when the coronavirus pandemic slashed energy demand.
The fighting in the Middle East, after Washington hosted Israel-Lebanon peace talks on Friday, dimmed hopes that the U.S. and Iran could soon announce an extension to their ceasefire.
U.S. President Donald Trump said on Friday he would soon decide on a proposed deal to extend a ceasefire announced in early April.
Israel would be key to any such deal, and Iran has said repeatedly that Hezbollah and Lebanon must be included. The U.S. has proposed a “gradual de-escalation” plan, a U.S. official said on Sunday.
Concerns are rising about mines in the Strait of Hormuz, a key oil and gas shipping lane, IG analyst Tony Sycamore said in a note. “Even if an agreement is reached, it won’t deliver a flood of supply,” Sycamore said.
An Axios reporter said on X on Friday that Iran had dropped more mines in the strait earlier last week.
Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said on Monday the delay in the diplomatic process to end the war can be explained by a lack of trust, Washington’s contradictory positions and Israel’s attacks on Lebanon.
Concerns over supply outweighed weekend economic data from China which showed stalling factory activity. This added to concerns the world’s second-largest economy is losing momentum.
Saudi Arabia is likely to cut its official selling prices (OSPs) for crude oil to Asia in July for a second month, a Reuters survey showed.
Goldman Sachs said on Sunday that weak oil demand in China and Europe poses a major downside risk to its fourth-quarter Brent crude forecast of US$90 a barrel and WTI forecast of US$83, although Middle East supply disruptions could still push prices higher.
Highest impact event of the week.
Why it matters:
| If Jobs Strong | If Jobs Weak |
|---|---|
| Banks ↑ | Utilities ↑ |
| Industrials ↑ | Gold ↑ |
| Technology ↑ | REITs ↑ |
| Gold ↓ | Bond-sensitive sectors ↑ |
Stocks most sensitive:
The labour market remains a concern.
Recent data showed:
Positive:
Negative:
Watch:
Markets increasingly expect the Bank of Canada to remain cautious after weak GDP data. The next BoC meeting is June 10, so investors will be positioning ahead of it all week.
The U.S. and Mexico have begun discussions on revisions to USMCA, with Canada expected to be drawn into negotiations over the coming weeks. Automotive content rules, steel, aluminum and supply chains are key issues.
Most exposed:
Bullish:
Bearish:
Markets continue to monitor:
Recent progress on a ceasefire reduced oil prices, but risks remain elevated.
If oil > US$95:
If oil < US$85:
Watch:
Manufacturing PMI releases from China are important for commodity demand expectations. Weak data would pressure industrial metals and resource names.
Affected sectors:
Watch:
| Sector | Outlook |
|---|---|
| Gold | Bullish |
| Utilities | Bullish |
| Telecom | Bullish |
| Banks | Neutral to Bullish |
| Energy | Neutral (oil dependent) |
| Consumer Staples | Neutral |
| Consumer Discretionary | Neutral to Bearish |
| Industrials | Trade-headline dependent |
| Technology | U.S. jobs dependent |
| Materials | China-data dependent |
Monday June 1
China’s PMI
Japan’s capital spending and manufacturing PMI
Euro zone’s unemployment rate, private sector credit and manufacturing PMI
Germany’s retail sales
(9:30 a.m. ET) Canada’s S&P Global Manufacturing PMI for May.
(9:45 a.m. ET) U.S. S&P Global Manufacturing PMI for May.
(10 a.m. ET) U.S. ISM Manufacturing PMI for May.
(10 a.m. ET) U.S. construction spending for April. The Street expects a month-over-month increase of 0.2 per cent.
(12 p.m. ET) Bank of Canada Senior Deputy Governor Carolyn Rogers appears before the House Standing Committee on Public Accounts.
Earnings include: Hewlett Packard Enterprise Co.
Tuesday June 2
Euro zone’s CPI
(10 a.m. ET) U.S. Job Openings & Labor Turnover Survey for April.
Earnings include: Dollar General Corp.; Palo Alto Networks Inc.
Wednesday June 3
China, Japan and Euro zone’s services and composite PMI
(8:15 a.m. ET) U.S. ADP National Employment Report for May.
(8:30 a.m. ET) Canadian labour productivity for Q1.
(9 a.m. ET) Canada’s S&P Global Services PMI for May.
(9:45 a.m. ET) U.S. Global Services/Composite PMI for May.
(10 a.m. ET) U.S. ISM Services PMI for May.
(10 a.m. ET) U.S. factory orders for April.
(2 p.m. ET) U.S. Beige Book is released.
Earnings include: Broadcom Inc.; CrowdStrike Holdings Inc.; Descartes Systems Group Inc.; Kraken Robotics Inc.; Macy’s Inc.; Medtronic PLC
Thursday June 4
Euro zone’s retail sales.
(8:30 a.m. ET) U.S. initial jobless claims for week of May 30. Estimate is 212,000, down 3,000 from the previous week.
(8:30 a.m. ET) U.S. productivity and unit labour costs for Q1. Analysts are projecting annualized rate rises of 0.5 per cent and 2.5 per cent, respectively.
(10 a.m. ET) U.S. Global Supply Chain Pressure Index for May.
Earnings include: Enghouse Systems Ltd.; Saputo Inc.
Friday June 5
Japan’s real cash earnings and household spending
Euro zone’s real GDP
(8:30 a.m. ET) Canadian employment for May. The Street expects a gain of 10,000 jobs with the unemployment rate remaining 6.9 per cent and average hourly wages rising 4.5 per cent year-over-year (unchanged from the previous month).
(8:30 a.m. ET) U.S. nonfarm payrolls for May. Consensus is a rise of 92,000 jobs with a steady unemployment rate of 4.3 per cent and average hourly wages gaining 3.5 per cent from the same period a year ago.
(3 p.m. ET) U.S. consumer credit for April.
Loblaw is effectively a bellwether for the Consumer Staples sector in Canada.
Key positives supporting both L.TO and TTCS:
As a result, when investors rotate toward safety, both TTCS and L.TO tend to rise together.
The TSX has recently been driven by:
When those sectors lead, defensive names like Loblaw often lag on strong market-up days but hold up better during pullbacks.
| Positive Drivers | Risks |
|---|---|
| Grocery demand remains resilient | Valuation higher than historical average |
| Shoppers Drug Mart growth | Revenue growth moderating |
| Strong cash flow | Competitive grocery pricing |
| Discount-banner strength | Consumer spending remains cautious |
Over the past 5 days, L.TO has traded very similarly to TTCS and has generally held up well against the TSX. The market continues to view Loblaw as one of Canada’s premier defensive stocks. While Energy and Gold stocks may generate larger short-term moves, investors continue to reward Loblaw’s predictable earnings, grocery market leadership, and pharmacy exposure.
A sustained improvement in consumer confidence would likely help the TSX more broadly, while continued economic uncertainty would tend to favor L.TO and the broader TTCS sector.
ATD’s earnings have recently been affected by lower fuel demand and weaker traffic volumes. U.S. same-store fuel volumes declined, reflecting reduced travel activity and cautious consumer behaviour.
For Couche-Tard:
Couche-Tard generates profits from:
Management has previously noted that lower- and middle-income consumers remain value conscious and are limiting discretionary purchases.
This is a greater concern for ATD than for many TTCS constituents.
Over the past week:
Meanwhile investors have been favouring stocks with clearer earnings momentum.
The TSX Consumer Staples Index has recently been supported by companies such as:
These businesses are viewed as direct beneficiaries of:
ATD has some defensive characteristics but remains more exposed to fuel demand cycles.
Current investor sentiment appears to be:
| Positive Factors | Negative Factors |
|---|---|
| Strong balance sheet | Slowing fuel volumes |
| Global footprint | Soft consumer spending |
| Food-service growth | Recent EPS misses |
| Acquisition capacity | Lack of immediate catalyst |
Analysts generally remain constructive longer term because of ATD’s strong cash flow, food-service expansion, and acquisition capability. However, the market currently wants evidence of renewed earnings growth before rewarding the stock with a higher valuation.
The recent underperformance versus TTCS and the TSX is mainly due to:
For the next 1–3 months, the most important drivers for ATD will be:
If fuel volumes stabilize and food-service growth continues, ATD could begin closing the performance gap versus TTCS.
Canadian stocks edged higher on Friday as investors welcomed the developments in U.S.-Iran negotiations to end the war. However, today’s economic data release, technically indicating the economy is in recession, held traders back from big moves which capped the gains.
After opening higher than yesterday’s close, today the benchmark S&P/TSX Composite Index gave ground initially but later gained momentum to trade positively throughout the rest of the session before settling at 34,758.57, up by 240.87 points (or 0.70%).
Five of the 11 sectors posted gains today, with the IT sector leading the pack.
As the U.S.-Israel versus Iran war entered day number 91 today, the ceasefire announced early in April still holds.
A couple of days before, U.S. forces stationed near Iran targeted Iranian boats attempting to lay sea mines across the Strait of Hormuz and missile-launching sites near the port city of Bandar Abbas in southern Iran. In retaliation, Iran’s Islamic Revolutionary Guards Corps launched strikes on U.S. bases.
Yesterday, Axios reported that a Memorandum of Understanding, aiming to extend the ongoing ceasefire for another 60 days and allow the immediate reopening of the Strait of Hormuz, has been drafted.
The report stated that the proposal needs to be approved by U.S. President Donald Trump. According to the MoU, the 60-day period would be dedicated for discussing Iran’s nuclear programs.
Today, Trump explained his stance on the framework agreement through Truth Social. Trump acknowledged that the negotiations have advanced on lesser issues but stated that key points needed to be worked out.
Trump reiterated that Iran must neither develop nor possess a nuclear bomb and repeated his demand for unearthing the enriched uranium material buried deep underground (Nuclear Dust) in Iran and destroy it with assistance from the U.S., Iran, and the International Atomic Energy Agency.
Trump wanted the immediate reopening of the Strait of Hormuz with unrestricted shipping traffic in both directions and no tolls levied. He urged Iran to remove or detonate all the sea mines planted by the nation earlier.
Trump promised to lift the U.S. naval blockade on Iranian ports if Iran complies with his demands. Trump added that he would take a final call after a meeting in the Situation Room of the White House.
Following Trump’s post, expectations of the resumption of oil and energy trade across the Strait of Hormuz after nearly three months’ time increased and market sentiments received a boost.
On the economic front, data released by Statistics Canada revealed that the Gross Domestic Product in Canada decreased at an annualized 0.10% rate in the first quarter, extending the 1.00% drop from the previous period.
With imports surging, and falling business capital investment (0.70%) and government capital investment (2.50%), the numbers reveal that three of the last four quarters have posted negative GDP growth.
Economists are concerned that the economy has slipped into a technical recession. However, since monthly GDP figures suggested mild positive growth in Q1 2026, the true trajectory of the economy is uncertain, according to experts.
Q2 2026 numbers will be released by Statistics Canada on August 28.
Yesterday, the Bank of Canada released its annual Financial Stability Report.
The report warned of increasing vulnerabilities, especially from the Middle East war, all of which could crystallize and expose Canada’s economy to more damage.
Major sectors that gained in today’s trading were IT (4.68%), Materials (2.61%), Communication Services (0.48%), Financials (0.34%), and Consumer Staples (0.24%).
Among the individual stocks, Celestica Inc (10.17%), Coveo Solutions Inc (7.49%), Kinaxis Inc (5.56%), Montage Gold Corp (8.34%), Equinox Gold Corp (8.29%), and Aya Gold and Silver Inc (7.84%) were the prominent gainers.
Major sectors that lost in today’s trading were Industrials (0.19%), Healthcare (0.39%), Real Estate (0.88%), Utilities (0.98%), and Energy (1.16%).
Among the individual stocks, International Petroleum Corporation (3.07%), Vermilion Energy Inc (3.06%), Imperial Oil (3.06%), Hydro One Limited (2.31%), Firstservice Corporation (3.41%), and Mda Space Ltd (8.42%) were the notable losers.