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5 Things to Know Today: Oil Surges as Iran Tensions Flare Again

  Monday, August 31, 2026 The week opens with oil jumping on fresh Middle East tension, the TSX still nursing last week's Warsh-driven pullback, and three big deadlines — the Bank of Canada, the gas tax holiday, and Canada's retaliation tariffs — all landing within the next eight days. Here's what to know. 1. Oil Jumps Past $90 After a Fresh US Strike on Iran A US strike on Iranian rocket launchers near the Strait of Hormuz on Sunday — the first since late July — sent Brent crude to $90.69 (+2.93%), with WTI near $86. It ends weeks of relative calm on the oil front and comes right as Canadian drivers are about to lose a price cushion of their own (see #4). What it means for you: Expect pump prices to firm up over the next week or two as the crude increase filters through — bad timing with the gas tax holiday set to expire. 2. TSX Sits at a Two-Week Low, Gold Still Shaky The TSX closed out last week at 36,553.92 (-0.80% Friday), its second straight weekly decline, after Fed...
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Market Turmoil: UnitedHealth's Plunge Sends Dow Spiraling Amid Weekly Losses

The stock market faced another turbulent session as UnitedHealth (UNH) shares plummeted over 22%, dragging the Dow Jones Industrial Average down by more than 500 points. The Nasdaq Composite and S&P 500 struggled to find footing, with both indexes sputtering after Wednesday’s tech-led sell-off.

UnitedHealth’s sharp decline followed a cut in its full-year profit forecast, making it the worst-performing Dow component of the day. The broader market also felt the weight of uncertainty surrounding trade policies and Federal Reserve decisions, as Fed Chair Jerome Powell warned of economic challenges ahead  due to tariffs.

Despite a slight rebound in the S&P 500, all three major indexes closed the week lower, with the Dow and Nasdaq falling over 2.5% and the S&P 500 down around 1.5%. Investors now turn their attention to upcoming earnings reports and economic indicators that could shape market sentiment in the coming weeks.


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