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Oil Surges Past $103 as TSX Extends Losing Streak

  Markets are lower this morning as oil surges past US$103 and tech stocks remain under pressure, with the TSX coming off a fourth straight decline. Below is your ready-to-publish Canadian Money Brief update for April 29, 2026 , built from today’s market data and news. TSX slips as oil spikes and global tensions rise The S&P/TSX Composite opened at 33,584 , down 0.69% from yesterday’s close as weakness in tech and materials continues to weigh on the index. Rising geopolitical tensions and renewed uncertainty around the Iran conflict have pushed WTI crude above US$103 , lifting Canadian energy names but not enough to offset broader declines.  U.S. markets are also softer, with the S&P 500 down 0.49% and tech stocks retreating amid renewed AI growth concerns.  Oil rallies on OPEC turmoil Crude prices are up more than 3% , driven by the UAE’s announcement that it will exit OPEC and by expectations of prolonged supply disruptions tied to the Iran war.  ...
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US Stock Futures Rise Despite Tesla’s Disappointing Earnings Report

 


The US stock market futures were slightly higher today despite Tesla’s disappointing earnings report and the release of the GDP print. 

The US economy grew at a 3.3% annual pace in the fourth quarter, faster than expected. Tesla reported Q4 earnings that missed estimates and issued a downbeat full-year production outlook. 

The S&P 500 is particularly concentrated in a few big names, notably the “Magnificent Seven” tech stocks. This concentration may make some investors ill at ease. But that’s no reason to be bearish. The benchmark average hit a record high as investors turned to a fresh set of corporate earnings for direction.

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