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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...
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5 Things to Know Today: Key Money Headlines for Canadians



1. Spring Economic Update Lands Today

Finance Minister François‑Philippe Champagne tables the 2026 Spring Economic Update this afternoon, outlining Ottawa’s latest fiscal outlook and new measures aimed at supporting Canadians amid global instability.

2. Fuel Excise Tax Temporarily Suspended

Prime Minister Mark Carney has paused the federal excise tax on gas, diesel, and aviation fuel, offering short‑term relief as energy prices remain elevated due to geopolitical tensions. 

3. Canada’s First Sovereign Wealth Fund Announced

Carney has unveiled the Canada Strong Fund, the country’s first sovereign wealth fund, designed to finance major national infrastructure and economic‑building projects in partnership with the private sector. 

4. CPP & OAS Payments Arrive Today

New CPP and OAS payments are being issued today, including adjustments for seniors affected by recovery tax calculations, which are spread across monthly OAS payments. 

5. Global Instability Continues to Pressure Energy Markets

The federal update comes as global energy supply remains strained, with the U.S.–Israel conflict with Iran disrupting oil flows through the Strait of Hormuz — a key factor behind rising fuel costs. 


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