Canada’s stock market finished July higher, helped by strong energy stocks and better-than-expected GDP data. But with tech staying choppy, gold pulling back, and tariffs still creating pressure, August could bring new tests for Canadian investors.

Canada’s job market came in much stronger than expected, but stocks still sold off hard. The TSX pulled back from record highs, AI stocks got hit, and investors are now questioning whether strong economic data could delay rate cuts.

As tech stocks wobble, Canada’s “real asset” giants are stepping up. This week’s earnings from Shopify, Enbridge, Agnico Eagle, Cameco, Manulife, and Brookfield will reveal whether digital growth or physical assets are leading the TSX in 2026.