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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...
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Azerbaijan's President Claims Russian Forces Unintentionally Shot Down Jetliner


In a recent statement, Azerbaijan's President Ilham Aliyev announced that the Azerbaijani airliner which crashed last week was unintentionally shot down by Russian forces. The tragic incident occurred over Russian airspace, resulting in the death of 38 out of 67 passengers on board.

President Aliyev told state television that the aircraft was hit by ground fire and rendered uncontrollable due to electronic warfare. He emphasized that the crash was not deliberate but criticized Russia for attempting to cover up the incident for several days.

The Kremlin confirmed that Russian air defense systems were active near Grozny, Chechnya, to counter a Ukrainian drone strike at the time of the crash. Russian President Vladimir Putin has since apologized to Aliyev, calling it a "tragic incident" but stopped short of admitting responsibility.

Aliyev has demanded an official apology, admission of guilt, and compensation for the victims and their families. The international community continues to monitor the situation closely as investigations proceed.



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