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TSX Closed for Victoria Day — What Moved Markets Before the Long Weekend

  A global bond rout, stalled US-Iran talks, and a surge past US$101 oil rattled Bay Street on Friday. Here's your full catch-up. Monday, May 18, 2026   ·  Canadian Money Brief  ·   Next TSX session: Tuesday, May 19 Indicator Last Price Change As of S&P/TSX Composite 33,833 ▼ 1.27% Fri May 15 CAD / USD 0.7273 ▼ 0.24% Fri May 15 WTI Crude Oil (USD/bbl) $101.02 ▲ 4.23% Fri May 15 Gold (USD/oz) $4,483 ▼ 2.88% (wk) Fri May 15 Bitcoin (CAD) $107,789 ▲ 0.18% Fri May 15 TSX Hits 10-Day Low as Bond Rout Rattles Bay Street Canadian markets head into a long weekend on a sour note. The S&P/TSX Composite Index closed at 33,833 on Friday — down 434 points, or 1.27% — its lowest level in ten trading sessions. The sell-off was broad-based, driven by a sharp global bond market rout that pushed Canada's 10-year government bond yield to its highest level in roughly two years, and geopolitical turbulence in the Middle East that lit a fire under oil while dousin...
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Lockheed Martin's Proposal: Job Creation Tied to F-35 Fighter Jet Contract

 

Lockheed Martin, the U.S. defense contractor behind the F-35 fighter jet, has proposed creating additional jobs in Canada if the Canadian government commits to fulfilling its full order of 88 F-35 aircraft. This offer comes amidst ongoing discussions about the $19 billion contract, which was initially signed in 2023 to replace Canada's aging CF-18 fleet.

Currently, Canada has committed to purchasing only 16 of the 88 jets, with the first deliveries expected in 2026. Lockheed Martin's proposal aims to incentivize Ottawa to proceed with the remaining 72 aircraft by emphasizing the economic benefits of job creation. The company has highlighted the potential for roles in engineering, manufacturing, and other sectors critical to the Canadian economy.

However, the proposal is not without controversy. Prime Minister Mark Carney has ordered a review of the F-35 contract, citing concerns over trade relations with the United States and the geopolitical implications of relying on U.S.-made military equipment. Alternatives, such as the Swedish Gripen fighter jet, are also being considered, with some advocating for domestic production to boost Canadian sovereignty and job creation.

As the federal government navigates these complex decisions, the debate over the F-35 contract underscores the intersection of defense procurement, economic growth, and international relations.


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