From the Bank of Canada's steady hand to a surge in housing starts and Ottawa's new financial crime-fighting agency — here are the five money stories every Canadian should have on their radar this morning. 1 Bank of Canada Rate Holds at 2.25% — Next Decision June 10 The Bank of Canada kept its overnight rate at 2.25% on April 29 and has signalled it intends to stay put for now. Governing Council is keeping a close eye on Middle East conflict spillover into energy prices, ongoing U.S. tariff uncertainty, and whether inflation — currently hovering just above the 2% target — becomes entrenched. Bond markets are currently pricing in roughly an 18% chance of a 25-basis-point cut by the July 15 announcement, making a move at the June 10 meeting unlikely. 💡 What it means for you: Variable-rate mortgage and HELOC holders can exhale — no surprise hikes on the horizon. But don't expect big rate relief either; the "lower-for-longer" window appears to be closing. 2 Mortgage...
TSX Bounces Back as Tech Rally and Beijing Summit Lift Canadian Markets — May 15, 2026
The composite gained 227 points Thursday on AI enthusiasm and U.S.–China trade optimism — here's what Canadian investors need to know heading into the weekend.
MoneySavings.ca Staff | Friday, May 15, 2026 | moneysavings.ca/canadian-money-brief
📊 Market Snapshot — Thursday Close
| Index / Asset | Level | Change |
|---|---|---|
| S&P/TSX Composite | 34,268 | ▲ +0.67% |
| TSX Financials | 683.60 | ▲ +1.62% |
| TSX Energy | 430.72 | ▲ +1.16% |
| CAD / USD | 0.7288 | ▼ −0.04% |
| Crude Oil (WTI) | $101.95 | ▲ +0.77% |
Sources: Yahoo Finance Canada, TMX Money. Data as of Thursday close.
TSX Recovers After Mid-Week Stumble
Canadian stocks finished Thursday on a firm note, with the S&P/TSX Composite Index rising 226 points — or 0.67% — to close at 34,268. The recovery follows a rough Wednesday session in which the benchmark fell 0.7% amid concerns over stubborn inflation and hawkish signals from the U.S. Federal Reserve. Thursday's broad-based gains were led by the financial and energy sectors, which climbed 1.62% and 1.16% respectively, giving investors a welcome end to a volatile trading week.
Heading into Friday's session, sentiment among Canadian investors appears cautiously optimistic. The combination of a powerful overnight tech rally on Wall Street and encouraging early signals from the U.S.–China summit in Beijing is providing a tailwind for equities on both sides of the border.
AI Euphoria Drives Wall Street to New Records
Stateside, all three major U.S. indexes closed solidly higher Thursday, with the S&P 500 and Nasdaq each reaching fresh all-time highs. The catalyst was a wave of AI-related enthusiasm. Cisco Systems surged more than 13% after reporting earnings that beat expectations and raised forward guidance, while semiconductor startup Cerebras Systems made a stunning Nasdaq debut, soaring over 68% in its first day of trading.
Market analysts note that investor appetite for artificial intelligence plays remains ravenous. "The sentiment remains predominantly bullish," one market commentator observed, pointing out that the market continues pressing higher despite widespread warnings that it is overextended. For Canadian investors with exposure to U.S. tech through index ETFs or cross-listed names, Thursday's session delivered meaningful gains.
Beijing Summit: Trade Optimism Returns
A major geopolitical talking point for markets this week has been the high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing. Xi received Trump with a ceremonial welcome at the Great Hall of the People, raising hopes of a meaningful thaw in U.S.–China relations. Among early reported developments, China agreed to purchase 200 commercial jets from Boeing — though the aircraft maker's stock paradoxically fell on the news, suggesting investors had already priced in a larger deal.
For Canada, any improvement in the U.S.–China trade climate carries indirect benefits, particularly for commodity exporters. A more stable global trade environment tends to support oil and raw materials demand, two areas where Canada punches above its weight.
Oil Holds Above $100 — A Double-Edged Sword for Canada
West Texas Intermediate crude continued to hover above the $100-per-barrel mark on Thursday, closing near $101.95. Elevated oil prices remain tied to ongoing tensions in the Middle East, where the war in Iran and the uncertain status of the Strait of Hormuz have kept global supply tight. Stalled peace negotiations this week dashed earlier hopes that the waterway might reopen, keeping a floor under energy prices.
For Canada's oil-heavy economy, $100-plus crude is a boon for Alberta producers and TSX energy stocks — but it also adds to inflationary pressure nationally. The Bank of Canada is watching closely. Markets are now pricing in one to two rate hikes before year-end, a notable shift from just weeks ago when rates were expected to remain on hold.
Canadian Corporate Spotlight
Equinox Gold / Orla Mining: The proposed acquisition of Orla Mining by Equinox Gold continued to draw attention, with the deal set to create a North America-focused gold producer with an implied market value of roughly $18.5 billion. Equinox shares have been volatile since the announcement earlier in the week. Investors will be watching for further details on the deal's financing structure.
Boyd Group Services: Auto glass and collision repair giant Boyd Group has seen its shares swing sharply this week after first-quarter sales narrowly missed analyst forecasts, wiping out earlier gains following a strong revenue growth print. The stock dropped roughly 12% at one point mid-week and has since partially recovered. Income investors should note the company's dividend remains intact.
Big Banks: Canadian bank stocks clawed back some losses Thursday after BMO and Royal Bank of Canada both shed over 1% on Wednesday. The financial sector's 1.62% Thursday rebound suggests bargain hunters stepped in, though the sector remains under pressure from expectations of a more restrictive rate environment and elevated bond yields.
The Loonie: Steady but Soft
The Canadian dollar edged fractionally lower against its U.S. counterpart Thursday, trading at approximately 72.88 cents USD. The loonie has faced headwinds in 2026 from a stronger-than-expected U.S. dollar and uncertainty around the Canada-U.S.-Mexico Agreement (CUSMA) trade review. While oil prices above $100 typically lend support to the currency, ongoing domestic rate hike speculation and global risk-off episodes have kept gains capped. Analysts at Morningstar and Vanguard Canada maintain a constructive longer-term outlook on the loonie, citing monetary policy divergence and improving terms of trade.
What to Watch Today (Friday, May 15)
- TSX open: Futures suggest a firm open following Thursday's Wall Street records and overnight Asia gains.
- Beijing summit developments: Any further announcements from the Trump–Xi meetings could move commodities and risk sentiment intraday.
- Bank of Canada commentary: Any speeches or releases from Tiff Macklem's team will be parsed for rate hike clues given the elevated inflation backdrop.
- U.S. economic data: Retail sales and consumer sentiment figures are due out of Washington this morning and could ripple into Canadian markets.
- Gold & miners: After a rough mid-week, names like Agnico Eagle and Barrick Gold will be watched closely as gold prices attempt to stabilize.
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