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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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Pope Francis Shows Signs of Recovery from Pneumonia

Pope Francis is making strides in his recovery from pneumonia, according to the Vatican. The 88-year-old pontiff has been hospitalized at Rome's Gemelli hospital since February 14th after a bout of bronchitis worsened. Despite the severity of his condition, recent updates from the Vatican indicate that Pope Francis is showing positive signs of improvement.

On Thursday morning, the Pope was able to sit up out of bed and eat breakfast, marking his sixth peaceful night at the hospital. Vatican spokesman Matteo Bruni reported a slight improvement in some inflammation indices based on new blood tests conducted late Wednesday.

The Pope's condition had initially raised concerns due to his age and pre-existing health issues, including the loss of part of his right lung decades ago. However, his ability to get out of bed and maintain good spirits has been seen as a positive sign by medical experts.

Italian Premier Giorgia Meloni visited Pope Francis on Wednesday and noted that he was alert, responsive, and in good humor despite his diagnosis. The Pope is currently receiving a combination of antibiotics, cortisone, and additional pharmacological treatments to aid his recovery.

As the world continues to pray for his swift recovery, the Vatican remains hopeful that Pope Francis will overcome this health challenge and return to his duties soon.


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