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Markets Digest Hot U.S. Inflation as Iran Tensions Keep Oil Elevated

Publication:  moneysavings.ca / Canadian Money Brief  Date:  Tuesday, May 13, 2026 The TSX opens cautiously Wednesday after hotter-than-expected U.S. CPI data rattled Wall Street on Tuesday, while Strait of Hormuz disruptions continue to lift energy stocks and pressure the loonie toward 1.35 against the greenback. TSX ~34,291 S&P 500 7,400.96 ▼0.16% WTI Oil ~$102/bbl ▲ Gold ~$4,721 USD/oz ▼ USD/CAD ~1.35 US CPI Apr 3.8% ▲ (est. 3.7%) Market Overview Canadian investors are starting Wednesday on a cautious note following a mixed session south of the border. U.S. equities dipped Tuesday after April's consumer price index came in at 3.8% — a touch above the 3.7% consensus forecast and the highest reading since May 2023 — while the core rate held at 2.8%, also above expectations. The data has effectively closed the door on any Federal Reserve rate cuts in 2026, with traders now pricing in a roughly 70% chance of a rate hike by April 2027. For Canadians, the ripple effects...
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Ukraine Unveils Wreckage of Russia’s New Ballistic Missile

 

Ukraine’s Security Service (SBU) has provided The Associated Press with exclusive access to the wreckage of a new Russian ballistic missile, claiming it as evidence of Moscow’s escalating military capabilities in the ongoing conflict. The remains were displayed at an undisclosed location, with Ukrainian officials asserting the missile represents a significant technological advancement in Russia’s arsenal.

The missile, believed to be a next-generation weapon, was reportedly intercepted during an attack on Ukrainian infrastructure earlier this week. “This is a clear signal that Russia is intensifying its aggression with increasingly sophisticated weapons,” an SBU spokesperson stated.

Military analysts examining the wreckage highlighted the missile’s enhanced range and precision, which could pose greater challenges for Ukrainian air defenses. Ukrainian officials have called for increased Western support, including advanced anti-missile systems, to counter these threats.

Russia has yet to comment on Ukraine’s claims, but the display comes as tensions remain high amid ongoing strikes and counteroffensives. The new weaponry raises concerns about the potential for further escalation in the conflict.


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