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5 Things to Know Today: Oil Tops $100, Tariffs Take Effect, TSX Slides — Sept 9

  September 9, 2026 Here's what's moving markets and your wallet today — from a fresh oil shock to a stock that just had its worst week in months. 1. Oil Tops $100 a Barrel for the First Time Since July Brent crude broke back above $100 a barrel overnight after Houthi drones and missiles struck Saudi Aramco energy facilities in Jazan, Abha and Najran, wounding more than 70 people and halting operations at several sites. The attacks followed U.S. strikes on Iranian oil tankers over the weekend, deepening a Middle East conflict now in its seventh month. What it means for you: Ottawa's fuel excise tax pause (extended to Jan. 31, 2027) is holding, but it can't offset a rising crude price — CAA's national average sits at 179.9¢/L today, up from 170.5¢/L just five weeks ago. If your tank is low, fill it before this keeps climbing. 2. TSX Slides for a Second Straight Day The S&P/TSX Composite closed Tuesday at 36,123.05, down 390.75 points (-1.07%), its second consecu...
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Market Tremors: U.S. Futures Dip as Inflation Heats Up

 


In a surprising twist that rattled investors, U.S. stock futures took a nosedive following a hotter-than-expected inflation report. The Consumer Price Index (CPI), a key gauge of inflation, rose by 0.4% over the previous month and 3.5% over the last year in March, surpassing the forecasts which anticipated a 3.4% annual increase. This acceleration from February’s 3.2% annual gain in prices has sparked concerns that the Federal Reserve may hold off on interest rate cuts, a decision heavily influenced by inflation trends.

The unexpected uptick has led to a significant drop in U.S. futures, with the Dow Jones Industrial Average, S&P 500, and Nasdaq all experiencing over a 1% fall in anticipation of the market opening. This development is a stark reminder of the delicate balance central banks must maintain in their efforts to control inflation without stifling economic growth.

Investors are now bracing for potential turbulence in the markets, as they await further signals from the Federal Reserve on the future trajectory of monetary policy. The upcoming release of the Fed’s March meeting minutes is highly anticipated, with hopes that it will shed light on the policymakers’ stance on rate adjustments in the face of persistent inflationary pressures.

As the market absorbs the impact of the CPI report, all eyes will be on the Fed’s next move, making it clear that the path to economic stability is fraught with uncertainty.

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