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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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Gaza Ceasefire Crucial to Preventing Iranian Retaliation, Say Officials

 

In a high-stakes geopolitical scenario, Iranian officials have emphasized that only a ceasefire agreement in Gaza, resulting from anticipated talks this week, could prevent Iran from directly retaliating against Israel. The backdrop for this tension is the alleged assassination of Hamas leader Ismail Haniyeh on Iranian soil, an incident attributed to Israel. While Israel has neither confirmed nor denied its involvement, Iran has vowed a severe response.

The U.S. Navy has deployed warships and a submarine to the Middle East to bolster Israeli defenses, and diplomatic efforts are underway to prevent further escalation. A senior Iranian security official stated that Iran, along with its allies such as Hezbollah, would launch a direct attack if the Gaza talks fail or if Israel prolongs negotiations. However, the exact timeline for Iran’s response remains undisclosed.

With the risk of a broader Middle East conflict heightened by recent events, Iran has engaged in intense dialogue with Western countries and the United States to calibrate its retaliation strategy. The sensitivity of the matter has led all sources to speak on condition of anonymity.

As the world watches, the outcome of the Gaza ceasefire talks—scheduled to begin in either Egypt or Qatar—could significantly impact regional stability. The hope is that any Iranian response will be timed in a way that does not harm the prospects of achieving a ceasefire. However, the situation remains fluid, and observers are closely monitoring developments.

In the words of White House spokesperson John Kirby, “Something could happen as soon as this week by Iran and its proxies… If something does happen, the timing of it could certainly well have an impact on these talks we want to do on Thursday.”

While the path forward remains uncertain, the international community awaits the outcome of negotiations, hoping for a resolution that averts further conflict in the region


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