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Markets Rally as Oil Retreats and Nasdaq Hits a Record High — Daily Markets Update

   September 22, 2026 Stocks surged Monday as a 4.5% drop in oil prices and a powerful AI-chip rally sent the Nasdaq Composite to its 21st record close of 2026. The TSX added more than 200 points, Wall Street posted its best session since early August, and European and Asian markets joined the broad advance — all as diplomats gathered in New York for the UN General Assembly with eyes on a possible US-Iran meeting that could ease the energy shock that has rattled global portfolios all month. 🍁 Canada — TSX & Loonie Index / Asset Close (Mon Sept 21) Change Notes S&P/TSX Composite 36,009.40 +202.75 / +0.57% Tech & mining led; energy lagged Canadian Dollar 71.32¢ US -0.10¢ USD/CAD ~1.4019 Bank of Canada Rate 2.25% HOLD BoC held Sept 17; next decision Oct 28 The TSX shook off the previous week's malaise — the index had shed roughly 2% across the four sessions ending September 18 — and closed Monday at 36,009.40, a gain of 202.75 points or 0.57%. Technology and mining s...

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Tariff Truce, but Trade Tensions Linger

 

A temporary pause in U.S. tariffs has provided a brief respite for Canada, yet uncertainty continues to cloud North American trade relations. President Donald Trump’s decision to delay the 25% tariffs on Canadian and Mexican imports for 30 days—pending further border security and anti-drug measures—has momentarily stalled a looming trade war. However, Canadian officials and business leaders remain wary that this delay may only be a short intermission in a longer-term conflict.

Prime Minister Justin Trudeau’s government has moved quickly by announcing initiatives such as a $1.3 billion border security plan, the appointment of a “fentanyl czar,” and the deployment of additional border personnel. Despite these measures, major Canadian unions and provincial leaders warn that the threat of reimposed tariffs could still jeopardize jobs and disrupt economic stability. Industries dependent on cross-border supply chains—from energy to manufacturing—are bracing for potential price increases and operational disruptions, with investors watching market responses closely.

While financial markets showed only a modest selloff after the announcement, many remain cautious about what future negotiations might bring. The administration’s focus on curbing illegal immigration and drug trafficking has, for now, diverted immediate tariff implementation, but the possibility of renewed tariff action—potentially even extending to goods from the European Union—keeps uncertainty alive on both sides of the border.


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