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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.  ...
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Resilient Workforce: U.S. Jobless Claims Dip to 213,000 Amid Stability

 

The latest data from the U.S. Labor Department shows that initial jobless claims fell by 7,000 to 213,000 for the week ending February 8, outperforming economists’ expectations of 215,000. This decline is a positive indicator of a robust labor market, where layoffs remain historically low, despite ongoing economic uncertainties. 

Complementing this data, January’s employment report revealed an increase of 143,000 nonfarm payroll jobs, with the unemployment rate holding steady at 4.0%. These figures suggest that businesses are largely retaining their workforce, a factor that has enabled the Federal Reserve to pause further interest rate cuts as it assesses economic conditions. 

While some sectors are experiencing isolated job cuts amid persistent inflation and cautious corporate strategies, the overall picture points to a stable and resilient labor market. The sustained strength in job retention continues to support economic expansion, even as policymakers and businesses navigate a complex economic landscape.

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