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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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Tragic Plane Crash Near DC: No Survivors Expected

A devastating plane crash occurred near Ronald Reagan Washington National Airport on Wednesday night, resulting in the tragic loss of all 64 passengers and crew on board. The American Airlines regional jet collided mid-air with a U.S. Army Black Hawk helicopter, leading to a multi-agency search-and-rescue operation in the Potomac River.

Authorities have confirmed that there are no survivors from the crash. D.C. Fire and EMS Chief John Donnelly stated that the wreckage was found in three sections in waist-deep water, and the recovery operation is ongoing. Twenty-eight bodies have been recovered so far, including 27 from the plane and one from the helicopter.

The crash occurred around 9 p.m. EST when the Bombardier CRJ700 regional jet was on approach to the airport. The collision took place on a clear night, and both aircraft were following standard flight patterns.

President Donald Trump expressed his condolences and praised the efforts of first responders. "May God Bless their souls," Trump said in a statement. "Thank you for the incredible work being done by our first responders."

The Federal Aviation Administration (FAA) and the National Transportation Safety Board (NTSB) are investigating the incident to determine the cause of the collision.

This tragic event has deeply affected the local community and beyond, with many expressing their sorrow and support for the families of the victims.



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