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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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Devastating Storms Leave U.S. South and Midwest Reeling


A relentless storm system has wreaked havoc across the U.S. South and Midwest, leaving communities grappling with rising rivers and widespread destruction. Torrential rains and powerful tornadoes have claimed at least 18 lives, with Tennessee bearing the brunt of the fatalities. 

Floodwaters have inundated homes, roads, and critical infrastructure, prompting evacuations and emergency responses in states like Kentucky, Arkansas, and Missouri. The National Weather Service has issued warnings for major flood stages in multiple locations, forecasting continued threats as waterways swell. 

Amid the chaos, utilities have scrambled to shut off power and gas, while cities deploy sandbags to protect homes and businesses. The storms have also disrupted air travel, with hundreds of flights canceled or delayed. 

As communities brace for more rainfall and potential tornadoes, the resilience of those affected shines through. Emergency crews and volunteers are working tirelessly to provide aid and support to those in need. 

The devastation serves as a stark reminder of the power of nature and the importance of preparedness in the face of extreme weather events.

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