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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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Carney Urges Calm as Trump Escalates Tariff Dispute with Canada

                                           Canada Prime Minister Mark Carney

Canadian Prime Minister Mark Carney sought to reassure Canadians after U.S. President Donald Trump announced a 10% hike on tariffs targeting Canadian imports. The move, triggered by a controversial Ontario government advertisement aired during the World Series, has reignited trade tensions between Ottawa and Washington.

Carney, speaking while on a trip to Asia, emphasized that Canada “will not be bullied” and highlighted his government’s strategy to diversify trade partnerships, particularly with Asian markets.He underscored that Ottawa remains open to dialogue with Washington but will continue to protect Canadian workers and industries.

The tariff escalation comes at a sensitive moment, as both countries had been negotiating to ease earlier trade restrictions. Trump’s decision, described as retaliation for what he called a “hostile act,” has raised concerns of a renewed trade wa.

Carney’s message to Canadians was one of resilience: while acknowledging the economic risks, he stressed that Canada’s long-term strategy of broadening its trade horizons would help cushion the impact of U.S. protectionist measures.


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