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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...
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Stock Market Update: Retailers’ Holiday Numbers Impact Wall Street

 



Wall Street experienced a modest decline today as retailers unveiled their holiday season results. Investors closely monitored these figures, seeking insights into consumer sentiment and economic health. Here are the key highlights:

  1. Retail Earnings: Several major retailers reported their latest quarterly earnings. Among them:

    • Target: The retail giant exceeded expectations with a 58% increase in fourth-quarter profits. Cost-cutting measures and efficient inventory management contributed to this impressive performance. Target’s stock surged by 8.5% before the opening bell today.
    • Costco Wholesale, Gap, and Nordstrom also disclosed their holiday numbers, providing further context on consumer spending trends.

  2. Market Sentiment: Momentum in U.S. stocks has slowed after reaching record highs. Factors influencing market sentiment include:

    • Inflation: Signs of cooling inflation have prompted speculation about potential interest rate cuts.
    • Economic Resilience: Despite recession predictions, the U.S. economy remains resilient.

  3. Upcoming Events: This week holds critical events that could sway the market:

    • Fed Chair Jerome Powell’s Testimony: On Wednesday, Powell will testify before a House committee on monetary policy. His remarks may shed light on the Fed’s next move.
    • Jobs Report: Friday’s report will reveal the state of the U.S. job market.

  4. Global Markets: European indices rebounded midday, with Germany’s DAX, France’s CAC 40, and Britain’s FTSE 100 recovering from earlier losses.

As investors await further developments, Wall Street remains cautiously optimistic. Keep an eye on earnings reports and central bank communications for clues about the market’s direction.


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