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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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Trump Criticizes Helicopter Altitude Amid Recovery of 41 Victims from Wreckage


In the aftermath of a tragic midair collision between an American Airlines regional jet and a US Army helicopter near Ronald Reagan Washington National Airport, President Donald Trump has raised concerns about the helicopter's altitude. The collision, which occurred on January 30, 2025, resulted in the deaths of all 67 individuals on board both aircraft.

Rescue teams have recovered 41 bodies from the Potomac River, where the wreckage of the aircrafts was found. The National Transportation Safety Board (NTSB) is leading the investigation and has recovered the flight data and voice recorders from the American Eagle jet. A preliminary report is expected within 30 days.

President Trump has criticized the Federal Aviation Administration's (FAA) diversity programs, suggesting they may have contributed to the crash. However, former Transportation Secretary Pete Buttigieg and other GOP lawmakers have urged caution against jumping to conclusions. The investigation is ongoing, and experts emphasize that it is too early to determine the exact cause of the collision.

The crash has been described as the deadliest aviation disaster on U.S. soil in 23 years. Among the victims were elite figure skaters, labor union members, and beloved relatives returning from a training camp in Wichita. The aviation community and the nation mourn the loss of these lives as the investigation continues.


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