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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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Israeli Military Faces Scrutiny Over Gaza Aid Worker Deaths


The Israeli military has come under intense scrutiny following the killing of 15 aid workers in Gaza on March 23. According to an initial investigation, the military stated that the incident occurred due to a "sense of threat" after troops perceived danger in the area. Six of the individuals killed were identified as Hamas militants, the military claimed.

The emergency workers, including members of the Red Cross, Red Crescent, and United Nations, were reportedly shot while traveling in clearly marked ambulances and fire trucks with their lights on. This account contradicts the military's initial statement, which suggested the vehicles approached in the dark without markings.

The Palestine Red Crescent Society has called for an independent international investigation, labeling the attack a "full-fledged war crime" and highlighting repeated violations of international humanitarian law. The Israeli military has promised a deeper investigation to clarify the circumstances surrounding the incident.

This tragic event has sparked global outrage and renewed calls for accountability in conflict zones. The findings of the ongoing investigation will likely shape international responses to the incident.

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