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Oil Surges Past $103 as TSX Extends Losing Streak

  Markets are lower this morning as oil surges past US$103 and tech stocks remain under pressure, with the TSX coming off a fourth straight decline. Below is your ready-to-publish Canadian Money Brief update for April 29, 2026 , built from today’s market data and news. TSX slips as oil spikes and global tensions rise The S&P/TSX Composite opened at 33,584 , down 0.69% from yesterday’s close as weakness in tech and materials continues to weigh on the index. Rising geopolitical tensions and renewed uncertainty around the Iran conflict have pushed WTI crude above US$103 , lifting Canadian energy names but not enough to offset broader declines.  U.S. markets are also softer, with the S&P 500 down 0.49% and tech stocks retreating amid renewed AI growth concerns.  Oil rallies on OPEC turmoil Crude prices are up more than 3% , driven by the UAE’s announcement that it will exit OPEC and by expectations of prolonged supply disruptions tied to the Iran war.  ...
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Wall Street Takes a Breather After Record-Breaking Rally

After a blistering run to fresh highs, U.S. stock futures paused on Friday, signaling a moment of reflection for investors. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all hovered near record levels, with futures inching up just 0.1% across the board.

The rally was fueled by encouraging economic data, including strong retail sales and a dip in jobless claims, which helped ease concerns over the impact of President Trump’s tariffs on consumer spending. However, the momentum slowed as investors digested mixed earnings reports and awaited further clarity on monetary policy.

Netflix kicked off Big Tech earnings with a solid beat on both profit and revenue, yet its stock slipped in premarket trading as investors hoped for more aggressive guidance upgrades. Upcoming reports from 3M, American Express, and Charles Schwab are expected to provide further insight into corporate resilience.

Meanwhile, the drama surrounding Fed Chair Jerome Powell has simmered down, though speculation continues over his potential replacement and the future direction of interest rates.

With Wall Street still basking in the glow of recent gains, today’s pause may be less about hesitation and more about recalibration. Investors are watching closely to see whether this rally has more fuel—or if it’s time to cool off.

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