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Weekly Market Snapshot: Geopolitical Fog Meets Earnings Season as Markets Grind Higher

Week ending April 24, 2026 | Canadian Money Brief – moneysavings.ca Markets this week found themselves caught between two powerful forces: a roaring U.S. earnings season pushing stocks to fresh records, and a simmering Middle East conflict keeping oil elevated and investor nerves frayed. For Canadians, that makes for a complicated but important picture heading into the last week of April. TSX Composite: Stuck in the Mud The S&P/TSX Composite spent the week trading in a tight band near the 34,000 mark, unable to mount a meaningful rally. Tuesday delivered a sharp blow — the index plunged over 550 points to close at 33,808 as U.S.-Iran ceasefire talks collapsed after U.S. Vice President JD Vance abruptly cancelled his Pakistan trip, where he was set to lead negotiations. Wednesday brought a partial recovery, with the TSX adding roughly 0.4% to close at 33,955 , helped by gains in energy and mining stocks following President Trump's announcement of an indefinite ceasefire ex...
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Market Surge After Trump Rally Incident

 

Following the recent incident at a Pennsylvania rally where former President Donald Trump was shot in the ear, financial markets experienced notable movements. Here are the key highlights:

  1. Trump Media & Technology Group (TMTG) Shares Surge:

    • Shares of Trump Media & Technology Group (TMTG), the parent company of social media platform Truth Social, soared by 67% in premarket trading. Trump owns a majority stake in TMTG, which was worth about $3.8 billion as of June 25, 2024.
    • The surge in TMTG stock reflects investors’ anticipation that Trump’s odds of winning the election have risen following the assassination attempt.
    • Retail traders have been betting on a Trump victory, and this recent incident further fueled their confidence.

  2. Crypto Stocks React:

    • The intersection between political events and crypto price movements became evident. The Solana memecoin TRUMP (MAGA) surged by 42% within minutes of the news breaking, while Bitcoin climbed past the $59,000 mark.
    • Trump’s crypto-friendly stance has contributed to the positive sentiment in the crypto market.
    • Crypto exchange Coinbase Global, bitcoin miners Riot Platforms Inc, and Marathon Digital also saw gains of 6% to 7%.

  3. Other Market Reactions:

    • The broader US market remained subdued, with futures tied to the S&P 500 edging up by 0.4%.
    • Gun maker Smith & Wesson Brands gained 2.7%, as gun stocks tend to rise after mass shootings.
    • Prison stocks Geo Group and CoreCivic rose about 7%, potentially benefiting from Trump’s promised crackdown on illegal immigration.
    • Software developer Phunware and video-sharing platform Rumble also saw significant increases in their stock prices.

While these market movements reflect the immediate impact of the incident, it’s essential to keep an eye on further developments as the US election campaign continues. 





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