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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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Markets Rally as Geopolitical Tensions Ease, Oil Prices Tumble

U.S. stocks surged on Monday as investors welcomed signs of de-escalation in the Middle East following Iran’s limited retaliation to U.S. airstrikes. The Dow Jones Industrial Average climbed 0.9%, gaining over 350 points, while the S&P 500 and Nasdaq each rose nearly 1%, snapping a three-day losing streak.

The market rebound was fueled by Iran’s measured response—missile strikes on a U.S. base in Qatar that caused no casualties—which analysts interpreted as a signal that Tehran is not seeking further escalation. President Trump echoed that sentiment, suggesting Iran had “gotten it all out of their system” and expressing hope for peace talks.

Oil prices, which had spiked on fears of broader conflict, reversed sharply. Brent crude fell 7% to $71.48 per barrel, and WTI dropped to $68.51, as investors reassessed the risk of supply disruptions in the Strait of Hormuz.

Adding to the market’s optimism, Federal Reserve Governor Michelle Bowman voiced support for a potential interest rate cut as early as July, boosting hopes for monetary easing amid global uncertainty.

Tesla also made headlines, with shares jumping 8% after a successful robotaxi test launch in Austin, further energizing the tech-heavy Nasdaq.

The day’s gains reflect cautious optimism that diplomacy may prevail, even as markets remain alert to any shifts in the geopolitical landscape.

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