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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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U.S. Targets 60 Nations in Global Forced‑Labour Crackdown, Canada Included



The U.S. government has initiated a broad series of Section 301 investigations into 60 countries—ranging from major trading partners like Canada, the European Union, China, Mexico, Japan, and the U.K.—to determine whether they have failed to curb the use or import of goods produced with forced labour. 

U.S. Trade Representative Jamieson Greer announced that the probes will examine whether foreign policies and enforcement efforts sufficiently prevent forced‑labour‑linked products from entering global supply chains. If violations are confirmed, the U.S. may impose tariffs or other trade restrictions without requiring additional congressional approval.

The move follows a recent Supreme Court ruling that struck down parts of the administration’s previous tariff strategy, prompting a shift toward other trade tools. Canada, now under scrutiny, could face new economic pressures depending on the investigation’s outcome.

Officials say the reviews will be completed “in a matter of months,” signaling a rapid escalation in the U.S. approach to forced‑labour concerns and international trade compliance. 


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