Canadian equities moved higher on Tuesday after US President Donald Trump announced at the G7 summit that Washington’s agreement with Iran was progressing to a second phase, despite lingering uncertainties surrounding the deal.
Concerns persist over the interim arrangement aimed at ending the Middle East conflict, as shipping firms warned that restoring confidence could take weeks even if the Strait of Hormuz reopens. According to recent US intelligence assessments, Iran can now shut down the Strait of Hormuz at will. Both sides also indicated that a lasting ceasefire has yet to be finalized.
Meanwhile, US markets cooled off from the recent rally, while SpaceX (NASDAQ:SPCX) extended its strong post-IPO surge. The Dow Jones Industrial Average reached another new record high in as many days, driven by optimism surrounding a potential US-Iran agreement.
| TSX | 35,389.58 | +113.94 |  |
| TSXV | 985.94 | +6.12 | |
| CSE | 174.45 | -1.14 |  |
| DJIA | 51,999.67 | +328.64 | |
| NASDAQ | 26,376.34 | -307.60 | |
| S&P 500 | 7,511.35 | -42.94 | |
The Canadian dollar traded for 71.44 cents US compared to 71.47 cents US on Monday.
US crude futures traded US$3.74 lower at US$77.01 a barrel, and the Brent contract lost US$3.89 to US$79.78 a barrel.
The price of gold was up US$1.98 to US$4,332.72.
In world markets, the Nikkei was up 87.00 points to ¥69,404.50, the Hang Seng was down 348.72 points to HK$24,493.95, the FTSE was up 63.59 points to ₤10,494.21, and the DAX was up 16.40 points to €24,910.41.
