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Canadian Stocks · Oil Prices · Strait Of Hormuz · U.S.-Iran Talks
Canadian stocks, as measured by the S&P/TSX Composite Index, gained 0.65% or 218.05 points to 33,695.76 on Friday, driven by investor optimism surrounding upcoming U.S.-Iran peace talks aimed at resolving the ongoing Gulf crisis.
The U.S. President Donald Trump initiated a two-week ceasefire on U.S. attacks against Iran, with Vice President JD Vance leading a high-level delegation for discussions in Islamabad, Pakistan. Despite Vance's optimism, Iran expressed frustration over Israel's refusal to include Lebanon in the ceasefire and a targeted attack that killed 300 people.
Iran has not fully reopened the Strait of Hormuz and plans to collect tolls, a move opposed by Trump, who suggested a "joint venture" for its management. Iran's Supreme Leader Mojtaba Khamenei stated the strait's management would not revert to pre-war levels, leading to renewed supply concerns and a 1.18% drop in WTI Crude Oil to $96.72 per barrel.
Meanwhile, Statistics Canada reported the unemployment rate at 6.7% in March, with employment increasing by 14,000 jobs, marking the first gain in 2026.
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