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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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Nationwide Protests Seek Unity Against Trump's Sweeping Agenda

As Donald Trump prepared to address a joint session of Congress, protest groups gathered at parks, statehouses, and other public grounds across the country to assail his presidency as dangerous and un-American. The rallies and marches, organized by the fledgling 50501 Movement, mark the latest attempt at national resistance to Trump's "Make America Great Again" base and the success it has had in reshaping the Republican Party in the president's populist image.

Protesters face a myriad of issues to push back against, from tariffs to Trump's reset on the war in Ukraine to the aggressive actions of the Department of Government Efficiency led by billionaire Elon Musk. Demonstrators carried signs addressing various topics, including climate change, education cuts, and vaccine science denial. Events were scheduled throughout the day in all 50 states, including later gatherings on the West Coast and in Hawaii.

In Austin, Texas, protesters showed support for Ukraine by wearing yellow, the color of Ukraine's national flag, and chanting against Trump's policies. The diverse range of issues and the widespread participation highlight the challenges and determination of those opposing Trump's sweeping agenda.


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