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TSX Hits Record High as Iran Deal Lifts Markets — Daily Update, June 16, 2026

Oil tumbles on Strait of Hormuz reopening framework. All eyes on the Federal Reserve as Kevin Warsh chairs his first policy meeting. Here is everything moving Canadian wallets today. Tuesday, June 16, 2026  |  MoneySavings.ca 🇨🇦 TSX — Another Record on the Books The S&P/TSX Composite closed at a fresh all-time high on Monday, June 15, topping 35,398 intraday before finishing near the upper end of its range. The index is now up more than 11% year-to-date , the second-best performance among major global indexes tracked through mid-June — behind only Japan's Nikkei (+31%). Monday's rally was broad-based, fuelled by a surge in risk appetite following the announcement of a U.S.–Iran peace framework over the weekend. Energy, financials, and materials all participated, though energy stocks gained somewhat less than the others as crude oil prices simultaneously fell sharply on the Strait of Hormuz reopening news — a rare case where the same headline pushed the index up and one ...
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Trump Moves to Dismantle Department of Education: A Controversial Step


In a bold and contentious move, President Donald Trump is set to sign an executive order today to initiate the closure of the U.S. Department of Education. This decision fulfills a long-standing campaign promise and aligns with conservative calls to return education authority to the states.

The executive order directs Education Secretary Linda McMahon to take "all necessary steps" to facilitate the department's closure while ensuring the uninterrupted delivery of essential services and programs. However, dismantling the department entirely would require congressional approval, as it was established by Congress in 1979.

Critics argue that this move could disrupt federal funding for schools and programs that support vulnerable students, including those with disabilities and from low-income families. Advocates for public education have vowed to challenge the decision, emphasizing the department's role in maintaining educational equity.

Supporters of the decision, however, see it as a step toward reducing federal overreach and empowering local communities to make decisions about education. The debate over the department's future is expected to intensify as legal and political challenges unfold.

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