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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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Hunter Biden's Legal Troubles and Presidential Pardon

 

Hunter Biden, the son of U.S. President Joe Biden, faced legal issues related to firearms and tax convictions. In June 2024, he was convicted of lying on a federal form when purchasing a gun in 2018, falsely stating that he was not a drug user. Additionally, he pleaded guilty to failing to pay at least $1.4 million in federal taxes for the years 2016 to 2019. These charges stemmed from a period in his life when he struggled with drug and alcohol abuse before becoming sober in 2019.

Despite previously pledging not to use his presidential authority to grant clemency to his son, President Joe Biden issued a full and unconditional pardon for Hunter Biden on December 1, 2024. This pardon not only covered the gun and tax offenses but also any other federal offenses Hunter Biden may have committed from January 1, 2014, through December 1, 2024. President Biden justified his decision by stating that raw politics had infected the legal process, leading to a miscarriage of justice.

A presidential pardon is an expression of forgiveness granted by the President of the United States for federal criminal offenses. The power to pardon is derived from Article II, Section 2, Clause 1 of the U.S. Constitution, which allows the president to grant reprieves and pardons for offenses against the United States, except in cases of impeachment. A pardon forgives federal criminal offenses and exempts the individual from punishment, but it does not signify innocence.



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