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Markets Today: Oil Tops $87 as Hormuz Doubts Grow, TSX Hits Fresh Record Ahead of Wednesday's Inflation Test

  August 11, 2026 Canada's main stock index closed at yet another record high on Monday, even as oil prices jumped 5% on fading hopes for a U.S.-Iran deal to fully reopen the Strait of Hormuz. Wall Street slipped modestly from Friday's records, gold pushed to a two-month high, and everyone's now watching the calendar: Wednesday brings the July U.S. inflation report, the data point that could decide whether the Federal Reserve hikes rates next month. 🇨🇦 Canada: TSX Notches Another Record The S&P/TSX Composite added 77.10 points, or 0.2%, to close Monday at 36,458.33 — a fresh all-time high, and the third record close in four sessions. Energy stocks led the way, jumping 3.7% as crude prices spiked, while technology added 1.1%. The gains were tempered by a rough day for Barrick Mining, which fell 6.45% after second-quarter profit and revenue came in below estimates (the company also struck a US$1.95-billion deal with Newmont to settle a long-running dispute over their s...
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Canada’s Railways and Union in Critical Talks as Midnight Deadline Looms

 

Canada’s two major freight railroads, Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC), are currently embroiled in intense labor negotiations. The stakes are high: if an agreement isn’t reached by midnight, thousands of workers could face a lockout. This would halt the movement of approximately $1 billion worth of goods that traverse these companies’ tracks daily.

Prime Minister Justin Trudeau has urged both sides to continue their efforts at the negotiation table. He emphasized that millions of Canadians, workers, farmers, and businesses across the country are counting on a resolution. The Canadian Chamber of Commerce, Business Council of Canada, Canadian Federation of Independent Business, and the Canadian Manufacturers & Exporters have also called on the federal government to take immediate action to keep trains running and goods flowing.

The situation remains tense, and the outcome will have significant implications for the Canadian economy. Let’s hope that a last-minute agreement can be reached to avert a major rail stoppage. 

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