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Stocks Rip to Records as Oil Craters on Iran De-Escalation Hopes

August 5, 2026 Global markets roared into record territory Tuesday as easing fears over a Middle East oil shock sent crude prices tumbling and investors piled back into stocks. The Dow closed above 54,000 for the first time ever, the S&P 500 hit its first record high since June, and the TSX bounced back hard from its Civic Holiday closure. Here's everything you need to know before the market opens today. 🇨🇦 TSX: Back With a Bang Canadian markets reopened Tuesday after Monday's Civic Holiday closure, and investors made up for lost time. The S&P/TSX Composite Index surged 575.45 points, or 1.63%, to close at 35,801.59 — one of its strongest single-day gains of the year — clawing back all of Friday's 0.79% pullback and then some. Index Close Change S&P/TSX Composite 35,801.59 +575.45 (+1.63%) TSX Venture 898.89 +3.66% The rally was broad-based, with financials and miners leading the charge: Brookfield Asset Management jumped more than 6% after officially comple...
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Israel Approves New Parcel of West Bank Land for Settlement

 

Israeli Finance Minister Bezalel Smotrich has declared 800 hectares in the occupied West Bank as state land. This move aims to facilitate the use of the ground for settlement building. The announcement comes on the same day that U.S. Secretary of State Antony Blinken visited Israel for talks with Prime Minister Benjamin Netanyahu. Despite growing international opposition, the Israeli government remains determined to press ahead with settlement construction in the West Bank.

The designation of 1,976 acres of land in the Jordan Valley as state land follows a similar decision regarding 300 hectares (740 acres) in the Maale Adumim area of the West Bank. The latter area is crucial to the Palestinians’ vision of a future independent state.

Last month, the United States stated that Israel’s expansion of settlements in the West Bank was inconsistent with international law, aligning with the global consensus that considers these settlements illegal. Israel, however, disputes this view, citing historical and Biblical ties to the land. Meanwhile, the Palestinians view the expansion of settlements as a deliberate Israeli policy aimed at undermining their aspiration for an independent state with East Jerusalem as its capital.

The Palestinian Ministry of Foreign Affairs condemned this latest move, describing it as “a continuation of the extermination and displacement of our people from their homeland.”

Despite the controversy, Israeli Finance Minister Bezalel Smotrich’s declaration underscores the government’s commitment to settlement building in the West Bank. The situation remains highly contentious, with implications for regional stability and peace efforts.

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