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Oil's Biggest Jump Since 2020 Drags TSX and Wall Street Lower — Markets Update

  Oil's Biggest Jump Since 2020 Drags TSX and Wall Street Lower as Hormuz Tensions Flare — Tuesday, July 14, 2026 All figures below reflect confirmed closing prices from Monday, July 13, 2026. Markets are open today, Tuesday, July 14. The bottom line: Oil prices posted their biggest one-day jump since 2020 after President Trump said the U.S. would reinstate a naval blockade on Iranian shipping through the Strait of Hormuz and charge a 20% toll on cargo passing through it. The TSX slipped despite a strong tailwind from energy stocks, while Wall Street fell harder on renewed AI/chip stock weakness. Gold slid as investors priced in a more hawkish Fed. All eyes now turn to today's U.S. inflation report and tomorrow's Bank of Canada rate decision. 🇨🇦 Canadian Markets S&P/TSX Composite 35,252.72 -52.59 (-0.15%) CAD/USD $0.71 US Essentially unchanged The TSX Composite closed lower Monday, falling 0.15% to 35,252.72, as weakness in materials, consumer discretionary and finan...
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Stock Market Today: S&P 500 and Nasdaq Extend Winning Streak Ahead of Jackson Hole Symposium

US stocks continued their upward momentum today, with the S&P 500 and Nasdaq Composite both on track for their eighth consecutive daily gain. Investors are eagerly awaiting Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium later this week.

Key Points:

  1. S&P 500 ( ^GSPC): The broad-market index rose 0.5%, extending its longest winning streak of the year.
  2. Nasdaq Composite ( ^IXIC): The tech-heavy index increased more than 0.5%, also aiming for an eighth consecutive session win.
  3. Dow Jones Industrial Average ( ^DJI): The Dow gained over 200 points, mirroring the positive sentiment.

Last week’s strong rally helped recover losses from an early August sell-off, as encouraging inflation and consumer spending data eased recession concerns. Confidence in a “soft landing” for the economy has grown, leading investors to focus on the magnitude of potential rate cuts by the Fed in September.

Keep an eye on Powell’s speech and the upcoming Democratic National Convention for further market insights.


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