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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...
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Carney Sets the Course: PM Outlines Government Priorities in First Post-Election Address

 

Prime Minister Mark Carney is set to unveil his government's priorities in a highly anticipated news conference today, marking his first public address since securing a fourth mandate for the Liberal Party. 

Carney, who has remained largely behind closed doors since election night, is expected to focus on key domestic and international issues, including trade relations with the United States. His office confirmed that he spoke with U.S. President Donald Trump earlier this week, with discussions centered on easing ongoing trade tensions. While Trump has indicated a meeting in Washington could happen within days, Carney's team has yet to confirm the timeline. 

Beyond trade, Carney has spent the past few days engaging with global leaders, including King Charles, Ukrainian President Volodymyr Zelenskyy, and European Council President Antonio Costa. His diplomatic outreach signals a broader effort to reposition Canada on the world stage, particularly in light of shifting geopolitical dynamics. 

Domestically, Carney faces the challenge of governing with a minority government, as the Liberals secured 168 seats—one fewer than initially reported—following a validation process by Elections Canada. The Conservatives hold 144 seats, while the Bloc Québécois, NDP, and Green Party make up the remainder of the House. 

As Carney steps into the spotlight today, Canadians will be watching closely to see how he plans to navigate the political landscape and deliver on his campaign promises. His remarks are scheduled for 11 a.m. EDT, where he will take questions from the media. 



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