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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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Starmer Leads Renewed Push for Ukraine Peace at London Summit

 

British Prime Minister Keir Starmer has taken a bold step in the pursuit of peace in Ukraine, hosting a high-stakes summit in London. The gathering brought together leaders from across Europe, NATO, and Ukraine, including Ukrainian President Volodymyr Zelensky. The summit's primary focus was to strengthen Europe's role in supporting Ukraine amidst its ongoing conflict with Russia.

Starmer emphasized the importance of European unity and proposed a "coalition of the willing" to expedite peace efforts. This initiative comes in the wake of a tense exchange between Zelensky and U.S. President Donald Trump, which underscored the urgency of finding alternative sources of support for Ukraine. Starmer's plan includes bolstering military aid, providing economic assistance, and ensuring long-term security guarantees for Ukraine.

The summit also highlighted the need for Europe to step up its defense capabilities, with Starmer advocating for a collaborative approach to peacekeeping. As the conflict enters its third year, the London summit marks a critical moment in the global effort to secure a lasting resolution for Ukraine.

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