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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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Severe Blizzard Conditions Persist in Ontario: Travel Advisory in Effect


Ontario continues to grapple with severe blizzard conditions, leading to widespread highway closures and hazardous travel conditions. Environment and Climate Change Canada (ECCC) has issued blizzard warnings for several areas surrounding Lake Huron, including Owen Sound, Blue Mountains, and Saugeen Shores. 

The blizzard conditions are accompanied by strong, gusty winds, with speeds reaching up to 80 km/h, causing significant blowing snow and reduced visibility. The hardest-hit regions could see accumulations of 30-50 cm of snow, making travel extremely treacherous. 

Highway 21, from Ashfield to Southampton, has been closed due to poor conditions and a reported incident. Other affected highways include 10, 26, and parts of the 400, with potential bursts of snow reaching the northern Greater Toronto Area (GTA) and parts of the 401. 

ECCC advises against non-essential travel and urges those who must travel to keep others informed of their schedule and destination, carry an emergency kit, and stay updated on weather warnings. 

Stay safe and stay informed as conditions continue to deteriorate in Ontario's snowbelt regions.




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