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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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Federal Contracting Scandal: The ArriveCan App Controversy


  • Contracting Overview: Three companies involved in the ArriveCan app development received over $1-billion in federal contracts since 2011. The firms, Coradix Technology Consulting, Dalian Enterprises, and GCStrategies, have been suspended pending investigations into alleged misconduct.

  • Parliamentary Scrutiny: The sharp increase in federal outsourcing, from approximately $8-billion in 2016 to over $21-billion last year, has led to parliamentary scrutiny. Allegations include inflated résumés and a reliance on IT staffing firms that subcontract work for commissions.

  • Indigenous Procurement Strategy: Dalian, an aboriginally owned company, partnered with Coradix for contracts under the federal Procurement Strategy for Indigenous Business. Audits are underway to ensure compliance with program rules.

  • Conflict of Interest Concerns: Revelations of conflict of interest have emerged, including a case where a public servant was involved with a contracting company. The Treasury Board disclosed 162 conflict-of-interest declarations for the 2023-24 fiscal year, with ongoing reviews.

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