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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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Saudi Crown Prince’s US Visit Signals Strategic Reset in Defense, AI, and Nuclear Cooperation

Saudi Crown Prince Mohammed Bin Salman speaks with U.S. President Donald Trump on the day of the Saudi-U.S. Investment Forum, in Riyadh, May 13, 2025


Saudi Crown Prince Mohammed bin Salman (MBS) has arrived in Washington for a high-profile meeting with U.S. President Donald Trump, marking his first trip to the United States since the 2018 killing of journalist Jamal Khashoggi. The visit underscores a renewed push to deepen bilateral ties across defense, technology, and nuclear energy.

Key Focus Areas of the Visit:

  • Defense Cooperation: Riyadh is seeking stronger security guarantees from Washington amid regional tensions. Discussions are expected to include advanced weapons systems and a potential formal security pact.
  • Artificial Intelligence (AI): Saudi Arabia aims to secure access to cutting-edge AI technologies, particularly in semiconductor chips, to support its ambitious Vision 2030 economic diversification plan.
  • Nuclear Energy: Talks will explore pathways for civilian nuclear cooperation, with Saudi Arabia pushing for U.S. support in developing nuclear power as part of its long-term energy strategy.
  • Economic Investments: Trump is expected to highlight a $600 billion Saudi investment pledge made earlier this year, framing the visit as a boost to U.S. commerce and job creation.
  • Regional Diplomacy: The meeting could also touch on broader Middle East issues, including potential steps toward Saudi–Israel normalization and cooperation on regional stability.

The White House is treating the event with the stature of a state visit, including a black-tie dinner, signaling the importance both sides attach to the relationship. Analysts note that while human rights concerns remain in the background, both Washington and Riyadh are prioritizing strategic and economic gains.

This visit represents a reset in U.S.–Saudi relations, moving beyond past strains to focus on shared interests in security, energy, and technological innovation. Both leaders are expected to emerge with agreements that showcase the partnership as a cornerstone of regional and global stability.

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