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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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Syria's Deadliest Days: Over 1,000 Killed in Clashes and Revenge Killings


In a tragic escalation of violence, over 1,000 people have lost their lives in Syria during two days of intense clashes and revenge killings. The conflict erupted between Syrian security forces and loyalists of ousted President Bashar al-Assad, with sectarian violence targeting the Alawite community, a key support base of the former regime.

The Britain-based Syrian Observatory for Human Rights reported that the death toll includes 745 civilians, 125 government security personnel, and 148 militants. The violence has left areas like Latakia without electricity and water, further deepening the humanitarian crisis.

The revenge killings, primarily carried out by Sunni Muslim gunmen, have devastated Alawite villages, with reports of targeted shootings, looting, and arson. Thousands have fled to the mountains seeking safety, while bodies remain unburied in the streets of towns like Baniyas.

This marks one of the deadliest episodes in Syria's 14-year conflict, raising fears of further instability in the region. The new government in Damascus, led by Hayat Tahrir al-Sham, has vowed to protect minorities, but the situation remains dire.


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