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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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Ontario Liberals and Labour Groups Slam Ford Over Snap Election Call and Alleged Misuse of Public Funds

 

Ontario Premier Doug Ford's recent announcement of a snap election has sparked a wave of criticism from the Ontario Liberal Party and various labour groups. The election, set to take place on February 27, has been labeled as opportunistic and a misuse of public funds by Ford's opponents.

Ford's justification for the early election is the need for a strong mandate to combat potential tariffs from U.S. President Donald Trump. However, opposition parties argue that this is merely a pretext to capitalize on favorable polling and secure an even larger majority.

The Ontario Liberal Party has raised concerns about Ford's use of taxpayer money for activities that could be seen as politically motivated. They argue that Ford's travel to the U.S. and his role as Chair of the Council of the Federation could be construed as partisan actions, especially given the timing of the election.

Labour groups have also voiced their discontent, accusing Ford of prioritizing political gain over the needs of Ontarians. They argue that the snap election will disrupt ongoing projects and initiatives, causing unnecessary chaos and expense.

As the election date approaches, all political parties are scrambling to finalize their candidates and platforms. The Ontario Liberals, NDP, and Progressive Conservatives are all in a race against time to prepare for the unexpected election.

The coming weeks will undoubtedly be a whirlwind of political activity, with each party vying for the support of Ontario's voters. Whether Ford's gamble will pay off remains to be seen, but one thing is certain: the snap election has already stirred up significant controversy and debate.

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