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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...
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Biden vows to respond after Iranian-backed drone strike kills 3 US troops in Jordan

 


President Joe Biden has vowed to respond after three American troops were killed and dozens more were injured in an overnight drone strike in northeast Jordan near the Syrian border. 

The President blamed Iran-backed militias for the first U.S. fatalities after months of strikes by such groups against American forces across the Middle East amid the Israel-Hamas war. Biden, who was traveling in South Carolina, asked for a moment of silence during an appearance at a Baptist church’s banquet hall. “We had a tough day last night in the Middle East. We lost three brave souls in an attack on one of our bases," he said. After the moment of silence, Biden added, “and we shall respond.” With an increasing risk of military escalation in the region, 

U.S. officials were working to conclusively identify the precise group responsible for the attack, but they have assessed that one of several Iranian-backed groups was behind it. Biden said in a written statement that the United States “will hold all those responsible to account at a time and in a manner (of) our choosing.” Defense Secretary Lloyd Austin said "we will take all necessary actions to defend the United States, our troops, and our interests.”


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