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Rising Tensions in the Gulf as Iran Strikes and Trump Rebukes Allies

  An aerial view of the island of Qeshm, separated from the Iranian mainland by the Clarence Strait. Iran has launched a new wave of attacks on U.S. Gulf allies, escalating an already volatile regional conflict. On Tuesday, Iranian forces targeted the United Arab Emirates in what officials described as retaliatory strikes amid the ongoing U.S.-Israeli war with Iran. President Donald Trump publicly criticized Gulf allies for what he called a lack of gratitude and cooperation during a tense naval standoff in the Strait of Hormuz.  Escalating Conflict The conflict, now in its third week, has seen Iran expand its attacks beyond expected targets, striking both the UAE and Israel. U.S. officials revealed that Trump had been warned such retaliation was likely, despite his claims of being caught off guard.  Strategic and Economic Fallout The Strait of Hormuz remains largely closed, with U.S. allies refusing Trump’s requests to help reopen the critical waterway. This blo...
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TSX Breaks 30,000 Barrier Amid Energy and Gold Surge

The Toronto Stock Exchange is pictured on Tuesday. The S&P/TSX composite index surpassed 30,000 for the first time. 



The S&P/TSX Composite Index briefly crossed the 30,000-point milestone for the first time in its history, marking a symbolic moment for Canadian markets. The rally was fueled by strength in energy producers, base metals, and gold miners, sectors that have been buoyed by rising commodity prices and investor demand for safe-haven assets.

Although the index later dipped back below the threshold, the achievement underscores a shift in sentiment. Investors have been encouraged by stronger-than-expected corporate earnings, easing borrowing costs, and expectations of further Bank of Canada rate cuts.

Market strategists note that while the round number is largely psychological, it highlights the TSX’s resilience in the face of global trade tensions and a slowing economy. With gold prices at record highs and materials stocks leading gains, analysts suggest the index could continue to find support even if broader demand weakens.

At last check, the TSX was trading just under the mark at 29,815.63, down 0.48% on the day.


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