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Weekly Market Snapshot: Geopolitical Fog Meets Earnings Season as Markets Grind Higher

Week ending April 24, 2026 | Canadian Money Brief – moneysavings.ca Markets this week found themselves caught between two powerful forces: a roaring U.S. earnings season pushing stocks to fresh records, and a simmering Middle East conflict keeping oil elevated and investor nerves frayed. For Canadians, that makes for a complicated but important picture heading into the last week of April. TSX Composite: Stuck in the Mud The S&P/TSX Composite spent the week trading in a tight band near the 34,000 mark, unable to mount a meaningful rally. Tuesday delivered a sharp blow — the index plunged over 550 points to close at 33,808 as U.S.-Iran ceasefire talks collapsed after U.S. Vice President JD Vance abruptly cancelled his Pakistan trip, where he was set to lead negotiations. Wednesday brought a partial recovery, with the TSX adding roughly 0.4% to close at 33,955 , helped by gains in energy and mining stocks following President Trump's announcement of an indefinite ceasefire ex...
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Market Jitters: Futures Slide Ahead of Trump's Tariff Announcement

                                                    

The U.S. stock market is experiencing turbulence as investors brace for President Trump's highly anticipated tariff reveal, dubbed "Liberation Day." Futures tied to major indices, including the Dow Jones Industrial Average, S&P 500, and Nasdaq, have dropped significantly. This decline reflects growing concerns over the potential economic impact of reciprocal tariffs on U.S. trading partners.

While the S&P 500 rebounded slightly on Monday, it closed March near its lowest levels in three years, marking a challenging first quarter. Analysts speculate that the new tariffs could push the effective U.S. tariff rate to its highest level since the 1940s, further straining an economy already grappling with slowing growth and persistent inflation.

The uncertainty surrounding the scope and nature of the tariffs has left markets in limbo, with investors anxiously awaiting clarity. Will the tariffs be blanket measures affecting all trading partners, or will they be tailored to specific countries? This question remains unanswered, fueling market volatility.

As the countdown continues, the labor market's resilience will also be under scrutiny, with key economic data releases scheduled later this week. Investors hope for signs of stability amid the growing unease.

The stock market's reaction underscores the delicate balance between policy decisions and economic confidence. All eyes are now on Wednesday's announcement, which could set the tone for the months ahead.

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