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TSX Steadies After Bond Rout | Canadian Money Brief — May 19, 2026

  TSX Steadies After Bond Rout — But Iran Uncertainty Keeps a Lid on Gains Canadian equities attempt a cautious bounce this morning after last week's sharp sell-off. Oil near US$100 props up energy shares, while gold cools in Canadian-dollar terms and the loonie holds a fragile grip at 72–73 cents US. Canadian Money Brief  ·  moneysavings.ca  ·  May 19, 2026 TSX ~34,020 ▲ Recovering CAD/USD $0.727 → Flat WTI Oil ~US$100 ▲ Elevated Gold (CAD) ~$6,243/oz ▼ Pullback BoC Rate On Hold → Patient Overview Canadian markets opened cautiously higher this Tuesday after the S&P/TSX Composite suffered its worst single-session drop in weeks on Friday, closing at 33,833 — a decline of 1.27% — as a global bond-market selloff combined with stalled US–Iran negotiations hammered sentiment. Today's session opened around 34,027 , with the index trading in a tight range of roughly 33,745 to 34,175, suggesting investors are rebuilding positions but remain wary. The dominant story...
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UAE Secures Deal to Acquire Advanced AI Chips from U.S

The United Arab Emirates (UAE) and the United States have reached an agreement allowing Abu Dhabi to purchase some of the most advanced artificial intelligence semiconductors from American companies. The deal, finalized during U.S. President Donald Trump's visit to Abu Dhabi, is seen as a significant step in strengthening technological cooperation between the two nations.  

Trump emphasized the economic benefits of the agreement, stating that it would generate billions of dollars in business and accelerate the UAE’s ambitions to become a global leader in artificial intelligence. The arrangement also reflects the U.S. administration’s confidence in managing the security of these chips, with provisions requiring data centers to be operated by American firms.  

The UAE has been actively investing in AI and technology, committing to a 10-year, $1.4 trillion investment framework in the U.S. across sectors such as energy, AI, and manufacturing. This latest agreement further cements the UAE’s position as a key player in the AI industry while reinforcing its strategic ties with the U.S.  

As the global race for AI dominance intensifies, this partnership marks a crucial development in the geopolitical landscape of advanced technology.

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