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TSX Edges Higher as Miners Rally, But Iran Tensions and Stagflation Fears Keep Markets on Edge

  Publication: moneysavings.ca / Canadian Money Brief Date: Tuesday, May 12, 2026 Market Snapshot Index / Asset Value Change S&P/TSX (Mon close) 34,139 +0.2% Gold (spot) ~$4,677 USD/oz -0.36% Crude Oil (WTI) ~$97.88 USD/bbl +2.58% CAD/USD 0.7318 +0.04% Canadian markets wrapped up Monday in the green, with the S&P/TSX Composite Index adding 0.2% to close at 34,139 — buoyed by a standout session for the mining sector but tempered by pressure on financials and a sharp selloff in Shopify. Mining leads the way Barrick Mining was the headline act of the day, surging 9.1% after delivering first-quarter profit results that beat analyst estimates. Higher gold prices helped the company more than offset a dip in production volumes. Fellow miners followed suit: Agnico Eagle climbed 1.9% and Wheaton Precious Metals gained 3.6%, reflecting continued investor appetite for Canadian gold plays at a time when bullion remains historically elevated — hovering near US$4,677 per ounce...
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Market Optimism: U.S. Stock Futures Climb Amid China Trade Talks and Fed Decision

U.S. stock index futures edged higher on Wednesday as investors reacted positively to news of upcoming trade discussions between the U.S. and China. Washington announced that representatives from both nations would meet in Switzerland over the weekend, marking a potential step toward de-escalating trade tensions that have rattled global markets.

The Federal Reserve is also in focus, with its policy decision expected later in the day. While the central bank is widely anticipated to hold interest rates steady, traders are closely watching for signals on future monetary policy moves. Market participants are pricing in a possible rate cut by July, following mixed economic data that suggests slowing growth alongside a resilient labor market.

At 07:05 a.m. ET, S&P 500 E-minis were up 0.66%, Nasdaq 100 E-minis gained 0.67%, and Dow E-minis rose 0.73%. Investors are also keeping an eye on corporate earnings, with companies like Walt Disney and Uber Technologies reporting results that could influence market sentiment.

As Wall Street navigates uncertainty, the combination of trade negotiations and Federal Reserve guidance will likely shape market movements in the coming days. Traders remain cautiously optimistic, hoping for clarity on both fronts.

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