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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 Hits Record High as Powell Signals Possible September Rate Cut

U.S. stocks surged Friday, with the Dow Jones Industrial Average jumping more than 800 points to close at a record high, after Federal Reserve Chair Jerome Powell hinted that interest rate cuts could be on the horizon.

Speaking at the annual Jackson Hole economic symposium, Powell acknowledged that “downside risks to employment are rising” and that the Fed’s policy stance may need adjusting if labor market weakness persists. His remarks fueled investor optimism for a potential quarter-point rate cut as early as the Fed’s September meeting, with market odds of such a move climbing above 90%.

The rally was broad-based, lifting the S&P 500 and Nasdaq by more than 1.5% each. Bond yields fell sharply as traders snapped up Treasuries ahead of a possible easing cycle, while major tech stocks and economically sensitive sectors like homebuilders and travel companies posted strong gains.

Powell emphasized that any policy shift would be data-driven, balancing the need to support employment against lingering inflation pressures from tariffs. Investors, however, took his dovish tone as a green light for further market momentum into year-end.

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