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Markets Digest Iran Peace Progress and Fed Rate-Hike Risk — June 22, 2026

  Markets are easing into a cautious start this Monday as investors return from a long weekend — U.S. markets were closed Friday for Juneteenth — and assess a mixed backdrop: tentative optimism over U.S.–Iran peace talks, a newly hawkish Federal Reserve, and a key week of economic data and earnings ahead. Oil is steadying, the Canadian dollar is under modest pressure, and Asian markets rallied while European and U.S. futures drifted slightly lower in early trading. 🍁 Canada — TSX & the Loonie The S&P/TSX Composite Index heads into Monday trading with a cautious tone, sitting near the 34,857 level after slipping 0.32% on Thursday — the last day Canadian markets were open. Energy stocks will be in focus as oil prices stabilize following weeks of volatility tied to the U.S.–Iran conflict and the partial reopening of the Strait of Hormuz. The Canadian dollar is trading at approximately 70.52 cents U.S. (CAD/USD: 0.7052), down about 0.22% on the session. The loonie remains und...
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Special Counsel Pauses Federal Prosecution of Trump Over 2020 Election Interference

 

In a significant development, Special Counsel Jack Smith has requested a pause in the federal prosecution of President-elect Donald Trump for his alleged attempts to overturn the 2020 election results. This move comes in light of Trump's recent victory in the 2024 presidential election.

Smith's request, filed on Friday, asks the court to vacate all remaining deadlines in the pretrial schedule to allow the government time to assess the unprecedented circumstances and determine the appropriate course of action. The Justice Department has a longstanding policy against prosecuting sitting presidents, which has influenced this decision.

U.S. District Judge Tanya Chutkan granted the request, setting a new deadline of December 2, 2024, for the government to file a status report outlining its proposed course for the case. This pause reflects the complexities and legal considerations surrounding the prosecution of a sitting president.

Trump, who has denied all wrongdoing, was initially indicted in August 2023 for his alleged role in a criminal scheme to overturn the 2020 election results. The case has faced numerous delays, and the recent election victory has added another layer of complexity to the proceedings.

As the legal and political implications of this decision unfold, the nation watches closely to see how the Justice Department will navigate this unprecedented situation.

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