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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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Escalation in Gaza: Israeli Airstrikes Result in Civilian Casualties


In a tragic escalation of violence, at least 18 Palestinians were killed in Israeli airstrikes in Gaza on Saturday, according to Palestinian medics. The strikes targeted various locations, including a former shelter housing displaced people and an aid warehouse, which the Israeli military claimed were being used by militants. 

The airstrikes have intensified the already dire humanitarian situation in Gaza, with casualties being transported to hospitals by foot, on rickshaws, and in private cars. The conflict, which began on October 7, 2023, has resulted in significant loss of life and widespread displacement. Efforts by international mediators to broker a ceasefire continue, but the situation remains volatile. 

The international community has called for restraint and the protection of civilians, emphasizing the need for a peaceful resolution to the conflict. 


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