Markets are mostly softer this morning as oil prices surge past $100 a barrel following an escalation in the U.S.-Iran conflict. The TSX is down 0.12% to 36,078.28, though the TSX Venture Index is bucking the trend, up 0.87% to 967.98. In the U.S., the Dow is down 0.70% and the Nasdaq is off 0.17%, even as traders continue bidding up AI-related names, while London’s FTSE 100 is down 0.56%.
Copper is hitting fresh records, up 0.68%, and gold is holding steady near recent levels, up 1.53%, as Brent crude tops $100 on intensifying Middle East supply fears. Bitcoin is a bright spot, up 1.20% to just above C$109,000. The Canadian dollar is little changed against the U.S. dollar but softer against the pound, euro, and yen, while Canada has joined a European ban on Israeli settlement goods amid rising regional violence, and economists say Canada’s reciprocal tariffs are unlikely to hit grocery bills.
Market numbers
TSX: Down (-0.12%) 36,078.28
TSXV: Up (+0.87%) 967.98
DOW: Down (-0.70%) 52,401.4
NASDAQ: Down (-0.17%) 29,465.8
FTSE 100: Down (-0.56%) 10,702.40
In the headlines
- CoreWeave surges as OpenAI’s GPT-6 Astra reboots the AI trade: CoreWeave (NASDAQ:CRWV), the AI cloud infrastructure company, jumped 12% after OpenAI’s launch of its GPT-6 Astra model reignited enthusiasm for the compute-intensive AI trade. Investors are once again rewarding companies positioned to supply the infrastructure behind next-generation AI models.
- UK airlines scramble after tech problems cancel 1,750 flights: Major UK carriers are working to recover after a widespread technology failure forced the cancellation of roughly 1,750 flights, disrupting travel across the country. The outage highlights the operational risks airlines face when core booking and scheduling systems go down.
- Tamarack and Headwater merge in $10-billion Alberta oil deal: Tamarack Valley Energy (TSX:TVE) and Headwater Exploration (TSX:HWX), two prominent players in Alberta’s Clearwater oil play, agreed to merge in a deal valued at $10 billion, marking a major consolidation in one of the region’s hottest resource plays. The combination is expected to create a larger, more efficient producer better positioned to compete in the current oil price environment.
Currencies
USD: Down (-0.01%) $0.7249
GBP: Down (-0.17%) $0.5345
EUR: Down (-0.25%) $0.62267
JPY: Down (-0.50%) ¥111.174
AUD: Down (-0.15%) $1.0028
Bitcoin (BTC/CAD): Up (+1.20%) 109,378.7
(Conversion to C$1)
Commodities
Copper: Up (+0.68%) 6.83384
Gold: Up (+1.53%) 4,422.14
WTI: Up (+1.20%) 92.75
Natural Gas: Down (-1.42%) 2.844
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