Despite early losses, Canada’s main stock index rose Tuesday, though optimism surrounding a potential peace agreement between the US and Iran weakened, pushing oil prices higher and dampening global risk appetite. US President Donald Trump described the ceasefire with Iran as being “barely holding on,” after Tehran rejected a US proposal to end the conflict and instead presented a list of demands that Trump dismissed as “nonsense.”
The previous day’s gains followed remarks from Trump, who criticized the month-old truce as “extremely fragile”. He said it was effectively “on life support” after dismissing Iran’s counteroffer as unacceptable. In its latest proposal, Iran called for war reparations, complete control over the Strait of Hormuz, the release of frozen assets, and the removal of sanctions. Meanwhile, investors are assessing the April consumer price index (CPI) n data, which showed inflation came in hotter than expected. Prices rose 0.6 per cent month over month and 3.8 per cent year over year in April, according to the latest survey. Core CPI — which excludes food and energy costs — rose 0.4 per cent monthly and 2.8 per cent yearly.
| TSX | 34,290.73 | +151.85 |  |
| TSXV | 1,017.71 | +12.13 | |
| CSE | 178.42 | -2.13 |  |
| DJIA | 49,760.56 | +56.09 | |
| NASDAQ | 26,088.20 | -185.92 | |
| S&P 500 | 7,400.96 | -11.88 | |
The Canadian dollar traded for 72.99 cents US compared to 73.10 cents US on Monday.
US crude futures traded US$4.34 higher at US$102.40 a barrel, and the Brent contract rose US$3.60 to US$107.80 a barrel.
The price of gold was down US$4.32 to US$4,713.77.
In world markets, the Nikkei was up 324.69 points to ¥62,742.57, the Hang Seng was up 324.69 points to HK$62,742.57, the FTSE was down 15.30 points to ₤10,254.13, and the DAX was down 375.61 points to €23,974.67.
