Canadian equities advanced on Friday, supported by growing optimism that a peace agreement between Iran and the United States could be finalized soon. President Donald Trump indicated that a deal might be signed as early as this weekend.
If reached, the agreement could bring an end to a conflict that has lasted more than three months, a situation that has significantly driven up energy prices and heightened inflation concerns—particularly after Iran effectively shut down shipping through the Strait of Hormuz.
Despite the optimism, investors are proceeding carefully. Trump has previously signalled that a deal was close, but those expectations have not been realized, leaving markets wary.
According to Iranian state media, a preliminary version of the memorandum of understanding includes a US pledge to remove oil-related sanctions, while Iran would commit to reopening the Strait of Hormuz. Bloomberg reported that the agreement could potentially be signed in Switzerland as early as Sunday. Traders are also keeping a close eye on SpaceX, Elon Musk’s rocket company, as it prepares to begin trading on the NASDAQ. The company plans to go public under the ticker symbol SPCX, with shares priced at US$135, implying a total valuation of approximately US$1.77 trillion.
| TSX | 34,937.85 | +266.39 |  |
| TSXV | 946.57 | +34.40 | |
| CSE | 175.38 | -0.47 |  |
| DJIA | 51,202.26 | +353.51 | |
| NASDAQ | 25,888.84 | +79.18 | |
| S&P 500 | 7,431.46 | +37.16 | |
The Canadian dollar traded for 71.51 cents US compared to 71.55 cents US on Thursday.
US crude futures traded US$3.27 lower at US$84.44 a barrel, and the Brent contract lost US$3.43 to US$86.95 a barrel.
The price of gold was up US$117.24 to US$4,216.45.
In world markets, the Nikkei was up 1,802.77 points to ¥66,020.04, the Hang Seng was up 468.81 points to HK$24,718.10, the FTSE was up 167.84 points to ₤10,471.72, and the DAX was up 425.59 points to €24,635.30.