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Weekly Market Snapshot: Geopolitical Fog Meets Earnings Season as Markets Grind Higher

Week ending April 24, 2026 | Canadian Money Brief – moneysavings.ca Markets this week found themselves caught between two powerful forces: a roaring U.S. earnings season pushing stocks to fresh records, and a simmering Middle East conflict keeping oil elevated and investor nerves frayed. For Canadians, that makes for a complicated but important picture heading into the last week of April. TSX Composite: Stuck in the Mud The S&P/TSX Composite spent the week trading in a tight band near the 34,000 mark, unable to mount a meaningful rally. Tuesday delivered a sharp blow — the index plunged over 550 points to close at 33,808 as U.S.-Iran ceasefire talks collapsed after U.S. Vice President JD Vance abruptly cancelled his Pakistan trip, where he was set to lead negotiations. Wednesday brought a partial recovery, with the TSX adding roughly 0.4% to close at 33,955 , helped by gains in energy and mining stocks following President Trump's announcement of an indefinite ceasefire ex...
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Trudeau Stays Put Over Holidays, Freeland Eyes Leadership

 

Despite mounting pressure from within his party, Prime Minister Justin Trudeau has decided not to step down over the Christmas holidays. According to sources, Trudeau will spend Christmas in Ottawa before heading to British Columbia for a ski vacation with his family. 

The Liberal Party is currently in turmoil following the resignation of Finance Minister Chrystia Freeland. Freeland's departure has intensified calls for Trudeau to resign, with many Liberal MPs suggesting she could be a strong contender for the party's leadership. Freeland's resignation letter highlighted her disagreements with Trudeau over the direction of the government, particularly in light of the challenges posed by U.S. President-elect Donald Trump's tariff threats.

As Trudeau reflects on his future, the Liberal Party is preparing for a potential leadership contest. Freeland, who has been praised for her handling of the NAFTA negotiations and her role during the COVID-19 pandemic, is seen by many as a capable successor. However, her popularity is not universal, with some MPs criticizing the timing and manner of her resignation.

The coming weeks will be crucial for the Liberal Party as they navigate this period of uncertainty and prepare for the possibility of a new leader at the helm.

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