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Canadian Money Brief – June 1, 2026: Markets Kick Off June on a High Note

  Markets Kick Off June on a High Note A strong finish to May carries momentum into the first trading session of June, with tech leading the charge and a major Berkshire deal grabbing headlines. At a Glance — Friday May 29 Close (Most Recent Confirmed) Index / Asset Level Change S&P/TSX Composite 34,769 +0.73% S&P 500 7,580 +0.22% Dow Jones 51,032 +0.72% Nasdaq Composite 26,973 +0.20% CAD/USD 0.7249 –0.06% WTI Crude Oil US$87.36/bbl –1.73% Gold US$4,574/oz –0.42% Sources: Yahoo Finance, Trading Economics. Closing data as of May 29, 2026. June 1 intraday data referenced in body. May Goes Out on a High North American markets wrapped up May in fine form. All three major U.S. indexes — the S&P 500, the Dow, and the Nasdaq — finished Friday at record closing highs, capping a month that saw the tech-heavy Nasdaq surge roughly 8% and the S&P 500 gain around 5%. The TSX also had a solid run, closing above the 34,700 mark on Friday, supported by a rebound in financials and ...

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Suspected Houthi Rebel Missile Sets Cargo Ship Ablaze in Gulf of Aden

 

On Thursday, a suspected missile attack by Yemen’s Houthi rebels ignited a ship in the Gulf of Aden, while simultaneously, Israel intercepted what appeared to be another Houthi attack near the port city of Eilat.

In the Gulf of Aden, two missiles were fired, leaving an unnamed ship ablaze. The British military’s United Kingdom Maritime Trade Operations center confirmed the incident but provided no further details about the vessel. However, ship-tracking data analyzed by The Associated Press identified the burning vessel as the Palau-flagged cargo ship Islander. This ship had been en route from Thailand to Egypt and had previously sent out messages indicating “SYRIAN CREW ON BOARD” in an attempt to avoid being targeted by the Houthis.

Meanwhile, sirens blared over Eilat early Thursday morning, followed by videos posted online showing what appeared to be an interception in the sky. The Israeli military later clarified that the interception was carried out by its Arrow missile defense system. Although the origin of the fire remains undisclosed, the Arrow system is designed to intercept long-range ballistic missiles while they are still in space.

These attacks occur amidst escalating tensions between the Houthi rebels and Israel. The Houthis have intensified their assaults in response to Israel’s ongoing war against Hamas in the Gaza Strip. Eilat, situated on the Red Sea, is a crucial port city for Israel. In October, the Houthis first claimed a missile-and-drone barrage targeting Eilat, but these attacks have caused no damage in the city.

Since November, the rebels have repeatedly targeted ships in the Red Sea and surrounding waters, jeopardizing trade routes between Asia, the Middle East, and Europe. These vessels often have tenuous or unclear links to Israel, making them vulnerable to Houthi attacks. Notably, some of these ships have carried cargo bound for Iran, the Houthis’ primary supporter.

While the Houthis have not immediately claimed responsibility for either attack, they typically acknowledge their actions hours after conducting them. As the situation unfolds, the international community closely monitors the volatile region, where geopolitical tensions continue to simmer.


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