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Global Markets Update: Wall Street Returns, Oil Slips on Iran Deal Hopes — May 26, 2026

  U.S. markets reopen this Tuesday after the Memorial Day long weekend to a cautiously optimistic tone, with S&P 500 futures pointing higher and oil prices pulling back on signals that a U.S.–Iran ceasefire framework may be within reach. The TSX is open for regular trading, while European markets also add gains. Here is your full daily rundown. Canada — TSX & Loonie Index / Rate Level Change S&P/TSX Composite 34,471 +0.18% CAD / USD 0.7241 +0.07% Bank of Canada Rate 2.25% On hold The TSX opened for a full session today — Victoria Day was observed last week (May 18) and is now in the rear-view mirror. The composite index finished Friday at 34,471, buoyed by strength in materials and financials, while the energy sub-index lagged slightly as crude prices retreated. The Canadian dollar is trading near 72.4 U.S. cents (USD/CAD ~1.38), finding modest support from elevated oil prices even as a stronger greenback — underpinned by the U.S. Federal Reserve's higher-for-longer st...
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Navigating Uncertainty: Capital Gains Tax Changes Leave Taxpayers in a Bind

The recent prorogation of Parliament by Prime Minister Justin Trudeau has thrown taxpayers into a state of uncertainty regarding capital gains tax. The Canada Revenue Agency (CRA) continues to enforce the proposed changes, which increase the inclusion rate from 50% to 66.67% for gains over $250,000, despite the legislation not being formally enacted. This leaves taxpayers with two unappealing options: file based on the proposed legislation and potentially overpay, or file based on the previous rules and risk future penalties.

The CRA's decision to uphold the proposed changes, citing consistency and fairness, has frustrated many who made financial decisions based on the anticipated tax hike. With the future of the legislation uncertain, taxpayers are left scrambling to decide the best course of action.

This situation highlights the need for clear and timely legislative processes to avoid such dilemmas in the future. Until then, taxpayers must navigate these murky waters with caution and seek professional advice to mitigate potential risks.






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