Despite an early rally, Canada’s main stock index started a holiday-shortened trading week on Monday with a loss as oil and gas prices spiked again. Commodity prices rose as the escalating US–Israeli conflict with Iran entered its fifth week.
In recent weeks, traders have been concerned that rising energy costs could weigh on economic growth. However, Monday’s market stumbled after “near-term technical tailwinds,” including extremely oversold conditions from prior sessions and light investor positioning, as well as fresh threats from President Donald Trump to blow up and obliterate Iran’s electric plants and oil wells. US markets are coming off a losing week, with both the Dow and the NASDAQ slipping into correction territory. As the Iran war drags on, investors who once anticipated a swift resolution are becoming increasingly anxious about the broader economic consequences of the ongoing violence.
| TSX | 31,934.94 | -25.71 |  |
| TSXV | 909.13 | -5.87 | |
| CSE | 154.18 | -4.53 | |
| DJIA | 45,216.14 | +49.50 |  |
| NASDAQ | 20,794.64 | -153.72 | |
| S&P 500 | 6,343.72 | -25.13 | |
The Canadian dollar traded for 71.80 cents US compared to 71.98 cents US on Friday.
US crude futures traded US$5.50 higher at US$105.10 a barrel, and the Brent contract rose US$2.03 to US$114.60 a barrel.
The price of gold was up US$17.52 to US$4,511.15.
In world markets, the Nikkei was down 1,487.22 points to ¥51,885.85, the Hang Seng was down 201.09 points to HK$24,750.79, the FTSE was up 160.61 points to ₤10,317.69, and the DAX was up 262.13 points to €22,562.88.
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