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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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Netanyahu’s Court Appearance Sparks Debate After Trump-Backed Pardon Request

 

A demonstrator wearing a mask depicting Israeli President Isaac Herzog pretends to feed a banana to another demonstrator wearing a mask depicting PM Benjamin Netanyahu during a protest outside a courthouse in Tel Aviv.


Israeli Prime Minister Benjamin Netanyahu made a rare court appearance on Monday, just days after formally requesting a presidential pardon in his long-running corruption trial — a move that has drawn both domestic and international attention. The request, which has been publicly supported by U.S. President Donald Trump, has intensified political divisions within Israel and raised questions about the future of its judicial system.

Netanyahu, who faces charges of fraud, breach of trust, and bribery in multiple cases dating back to 2019, argued that the trial has become a distraction from governing and is tearing the country apart. He insisted that a pardon would serve the “national interest” by restoring unity at a time of heightened political and security challenges. Trump, a longtime ally, urged Israeli President Isaac Herzog to grant clemency, praising Netanyahu’s leadership and calling the trial politically motivated.

Opposition leaders, however, strongly condemned the request. Critics argue that granting a pardon would undermine Israel’s democratic institutions and set a dangerous precedent by placing Netanyahu above the rule of law. Some have suggested that any pardon should be contingent on Netanyahu’s retirement from politics and an admission of guilt. Former Prime Minister Naftali Bennett echoed this sentiment, saying that Netanyahu’s exit could help stabilize the nation and heal divisions.

President Herzog’s office described the pardon request as “extraordinary” and confirmed it would be carefully reviewed in consultation with legal authorities. The decision carries significant implications not only for Netanyahu’s political career but also for Israel’s justice system, which is under intense scrutiny as the trial continues.

For now, Netanyahu remains the only sitting Israeli prime minister ever to stand trial, and his courtroom appearance underscores the gravity of the moment. Whether the pardon is granted or denied, the outcome will likely shape Israel’s political landscape for years to come.

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