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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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Canada’s Job Market Stumbles as February Brings Major Employment Losses

 

                                           Workers operating machinery at a construction site in Edmonton.    

Canada’s labour market took a sharp downturn in February, shedding 84,000 jobs and pushing the national unemployment rate up to 6.7%. The decline was far steeper than economists expected and marks one of the most significant monthly employment drops in recent years. 

A Sudden and Significant Employment Decline

Statistics Canada reported that the country lost 84,000 jobs in February, a surprising contraction that affected both goods‑producing and services‑producing industries. The unemployment rate rose to 6.7%, up 0.2 percentage points from January. Economists had anticipated modest job growth, making the downturn even more unexpected. 

Who Was Hit the Hardest

  • Youth aged 15–24 saw the largest decline, losing tens of thousands of positions.
  • Men aged 25–54 also experienced notable job losses, particularly in full‑time and private‑sector roles.
  • Quebec accounted for the majority of the national decline, shedding 57,000 jobs, while British Columbia lost 20,000. 

Context and Economic Implications

This marks the second consecutive month of job losses, following a smaller decline in January. Analysts note that the February drop offsets some of the employment gains made in late 2025 and may signal growing economic strain as businesses adjust to slower growth and tighter financial conditions. 


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