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Oil Surges Past $103 as TSX Extends Losing Streak

  Markets are lower this morning as oil surges past US$103 and tech stocks remain under pressure, with the TSX coming off a fourth straight decline. Below is your ready-to-publish Canadian Money Brief update for April 29, 2026 , built from today’s market data and news. TSX slips as oil spikes and global tensions rise The S&P/TSX Composite opened at 33,584 , down 0.69% from yesterday’s close as weakness in tech and materials continues to weigh on the index. Rising geopolitical tensions and renewed uncertainty around the Iran conflict have pushed WTI crude above US$103 , lifting Canadian energy names but not enough to offset broader declines.  U.S. markets are also softer, with the S&P 500 down 0.49% and tech stocks retreating amid renewed AI growth concerns.  Oil rallies on OPEC turmoil Crude prices are up more than 3% , driven by the UAE’s announcement that it will exit OPEC and by expectations of prolonged supply disruptions tied to the Iran war.  ...
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Federal Reserve Signals Slower Rate Cuts Amid Economic Uncertainty

 

The Federal Reserve is poised to announce a quarter-point rate cut on Wednesday, reducing its benchmark rate from 4.6% to approximately 4.3%. This move follows a half-point cut in September and a quarter-point reduction in November. However, Fed officials are signaling a slower pace of rate cuts in 2025, with expectations of only two or three reductions compared to the four previously anticipated.

The central bank's policymakers are recalibrating their approach as inflation has significantly decreased from its peak of 7.2% in June 2022 to 2.3% in October. Despite this progress, inflation remains above the Fed's 2% target, and the economy continues to grow robustly. Fed Chair Jerome Powell has emphasized the need for caution as the benchmark rate approaches a "neutral" level that neither stimulates nor hinders economic growth.

The upcoming presidential administration's proposed economic policies, including potential tariffs and tax cuts, add to the uncertainty surrounding future rate decisions. As a result, Americans may see only slight relief from high borrowing costs in the near future.




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