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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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UN General Assembly Rejects U.S. Resolution on Ukraine War, Approves European-Backed Proposal

 

In a significant development at the United Nations, the General Assembly has rejected a U.S.-backed resolution urging an end to the war in Ukraine without mentioning Russian aggression. Instead, the assembly approved a European-backed Ukrainian resolution demanding Russia immediately withdraw its forces from Ukraine.

The U.S. resolution, which failed to gain approval, was seen as a setback for the Trump administration. The resolution aimed to bring a durable end to the conflict but did not explicitly address Russia's invasion of Ukraine. The assembly's decision reflects the ongoing tensions between the U.S. and Ukraine, as well as the strain in the transatlantic alliance over the Trump administration's approach to engagement with Moscow.

The European-backed Ukrainian resolution, which passed with a vote of 93-18 and 65 abstentions, emphasizes the need for Russia to respect Ukraine's sovereignty and territorial integrity. Ukrainian Deputy Foreign Minister Mariana Betsa stated that her country is exercising its "inherent right to self-defense" following Russia's invasion, which violates the U.N. Charter.

U.S. deputy ambassador Dorothy Shea acknowledged that multiple previous U.N. resolutions condemning Russia and demanding the withdrawal of Russian troops have failed to stop the war. She emphasized the need for a resolution marking the commitment from all U.N. member states to bring a durable end to the conflict.

The dueling resolutions highlight the complexities and challenges in addressing the ongoing war in Ukraine and underscore the importance of international cooperation in seeking a peaceful resolution.



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