Canada’s benchmark stock index briefly hit a three-month low on Thursday, but bounced as rising bond yields and stronger oil prices heightened fears that inflation could remain stubbornly high, prompting concerns that interest rates may stay elevated for longer.
South of the border, US markets eroded amid renewed pressure from higher Treasury yields and surging energy prices. Oil rallied after President Donald Trump claimed that he was unwilling to pursue a deal with Iran to end the war, while reports suggested the US was preparing a large-scale military response in the Middle East. Trump also reportedly escalated tensions with California officials by threatening Los Angeles and San Diego.
| TSX | 35,145.38 | +103.52 |  |
| TSXV | 867.76 | -9.41 |  |
| CSE | 149.00 | -2.17 | |
| DJIA | 51,231.64 | +51.77 | |
| NASDAQ | 27,193.34 | -345.35 | |
| S&P 500 | 7,765.36 | -36.41 | |
The Canadian dollar traded for 70.27 cents US compared to 70.12 cents US on Wednesday.
US crude futures traded US$3.23 higher at US$91.61 a barrel, and the Brent contract rose US$4.27 to US$104.50 a barrel.
The price of gold was up US$10.10 to US$4,124.32.
In world markets, the Nikkei was down 993.60 points to ¥69,042.11, the Hang Seng was down 344.71 points to HK$23,785.79, the FTSE was down 16.90 points to ₤10,441.60, and the DAX was down 281.31 points to €24,823.05.