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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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Tragic Collision Over Potomac River: 67 Lives Lost in D.C. Plane Crash

In a devastating incident, an American Airlines flight collided with a U.S. Army Black Hawk helicopter over the Potomac River near Ronald Reagan Washington National Airport, resulting in the tragic loss of 67 lives. The crash occurred last night, and both flight data recorders, or "black boxes," from the American Airlines jet have been recovered for investigation.

The National Transportation Safety Board (NTSB) is leading the investigation to determine the cause of the collision. Among the victims were elite figure skaters returning from a training camp in Wichita, Kansas, and their coaches. The crash has raised concerns about air traffic control staffing levels at the time of the incident, although it remains unclear what role this may have played.

President Donald Trump has expressed condolences and emphasized the need for a thorough investigation. The NTSB has promised a "whole-of-government effort" to uncover the truth behind this tragic event.

As the investigation continues, families and communities across the nation mourn the sudden loss of their loved ones. The scene of the crash is now marked by tributes and flowers left by those grieving.



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