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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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Israeli Troops Reach Strategic Hill in Lebanon Amid Escalating Conflict

 

Israeli ground forces have reached their deepest point in Lebanon since the invasion began on October 1, according to Lebanese state media. The troops captured a strategic hill in the southern Lebanese village of Chamaa, approximately 5 kilometers from the Israeli border, before pulling back after intense battles with Hezbollah militants.

The National News Agency reported that Israeli forces detonated the Shrine of Shimon the Prophet and several homes in Chamaa before their withdrawal, although these claims have not been independently verified. The Israeli military stated that their operations in southern Lebanon remain limited, localized, and targeted.

This ground push coincided with Israeli airstrikes on Beirut’s southern suburbs and other areas in southern Lebanon, including the port city of Tyre. The strikes targeted sites used by Hezbollah, with residents receiving advance warnings to evacuate.

The escalation comes as Lebanese and Hezbollah officials review a U.S.-drafted proposal aimed at ending the conflict. The proposal, based on U.N. Security Council resolution 1701, calls for a ceasefire and Hezbollah’s withdrawal from the Israel-Lebanon border.

Since the conflict’s escalation in late September, over 3,400 people have been killed in Lebanon, with 80% of the casualties occurring in the past eight weeks. Lebanon’s caretaker prime minister has urged Iran to persuade Hezbollah to agree to the ceasefire deal.


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