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Daily Markets Update: TSX Slips as Oil Jumps and Wall Street Wavers on Renewed U.S.-Iran Tensions

  Thursday, July 9, 2026 Global markets are digesting another bout of Middle East risk this week. Wednesday's session saw a fresh flare-up between the U.S. and Iran send oil prices sharply higher, rattling equities in Toronto, New York and across Europe, even as Asian markets bounced back into Thursday's session. Here's your rundown of where the major indexes, commodities and the loonie stand heading into today. 🇨🇦 Canadian Markets: TSX The S&P/TSX Composite Index fell 336.79 points, or 0.96%, to close Wednesday at 34,935.80 , down from Tuesday's close of 35,272.59. The pullback came as renewed U.S.-Iran hostilities pushed oil prices higher, which typically helps Canada's energy-heavy index — but this time, financials and mining stocks led the retreat as gold prices slid and rate-cut hopes cooled. Agnico Eagle Mines and Barrick Gold each fell more than 2%, while Wheaton Precious Metals dropped about 2% on the back of weaker gold. Tech names also weighed on th...
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Wall Street Slightly Lower as Airlines Report Earnings Ahead of GDP Data


Wall Street leaned toward losses before the opening bell today as more earnings poured in while investors awaited the latest data on how the U.S. economy fared in the second quarter. Here are the key highlights:

  • S&P 500 Futures: Fell 0.2% before the bell.
  • Dow Jones Industrial Average Futures: Close to unchanged.
  • Nasdaq: Down 0.3%.

Airlines in Focus:

  • Southwest Airlines: Tumbled early after reporting a steep drop in second-quarter profit despite higher revenue. The airline also announced it was doing away with its 50-year-old practice of open seating, opting for assigned seats and premium seating options.
  • American Airlines: Also reported earnings, and Wall Street predicts a release of earnings per share.

Additionally, Ford Motor Co. fell more than 13% in premarket trading after reporting a second-quarter net income decline due to rising warranty and recall costs.

Stay tuned for the latest GDP report, which will provide insights into the overall economic performance in Q2. Investors are closely monitoring these developments as market volatility continues.


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