Skip to main content

Featured

Oil Surges Past $103 as TSX Extends Losing Streak

  Markets are lower this morning as oil surges past US$103 and tech stocks remain under pressure, with the TSX coming off a fourth straight decline. Below is your ready-to-publish Canadian Money Brief update for April 29, 2026 , built from today’s market data and news. TSX slips as oil spikes and global tensions rise The S&P/TSX Composite opened at 33,584 , down 0.69% from yesterday’s close as weakness in tech and materials continues to weigh on the index. Rising geopolitical tensions and renewed uncertainty around the Iran conflict have pushed WTI crude above US$103 , lifting Canadian energy names but not enough to offset broader declines.  U.S. markets are also softer, with the S&P 500 down 0.49% and tech stocks retreating amid renewed AI growth concerns.  Oil rallies on OPEC turmoil Crude prices are up more than 3% , driven by the UAE’s announcement that it will exit OPEC and by expectations of prolonged supply disruptions tied to the Iran war.  ...

article

Global Retaliation: Allies and China Strike Back Against Trump Tariffs

In a dramatic escalation of trade tensions, China, Canada, and Mexico have vowed swift countermeasures in response to newly imposed tariffs by U.S. President Donald Trump. The tariffs—set at 25% on imports from Canada and Mexico and 10% on Chinese goods—were defended by Trump as necessary actions to curb the influx of illicit drugs and illegal immigration.

Canadian Prime Minister Justin Trudeau declared that his government would retaliate by imposing 25% tariffs on up to C$155 billion (approximately US$106 billion) of American products, targeting items ranging from consumer goods to industrial materials. Similarly, Mexican President Claudia Sheinbaum announced that her administration was preparing both tariff and non-tariff measures to defend national interests, while urging the United States to resolve its domestic issues through dialogue rather than punitive trade actions.

Meanwhile, China has taken a strong stand against what it calls a “violation of international trade rules.” The Chinese Ministry of Commerce confirmed that Beijing would file a lawsuit at the World Trade Organization and implement “corresponding countermeasures” to safeguard its economic interests .

These swift responses by the affected nations underscore the high stakes of the current trade dispute, with experts warning that the measures could set off a broader trade war. As both sides brace for potential economic fallout, industries spanning from automotive to agriculture are already bracing for increased costs and supply chain disruptions.

The global community now watches closely as these diplomatic and economic skirmishes unfold, with many calling for a return to negotiations to avert long-term damage to the international trading system.

Comments