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Oil Jumps, Asian Chip Stocks Crash as Markets Await Today's Fed Decision

  Wednesday, July 29, 2026 It's the biggest day of the week for your money. Oil is spiking again after a fresh round of fighting between the U.S. and Iran, Asian tech stocks are getting hammered for a second straight session, and the Bank of Canada's American counterpart hands down its interest rate decision this afternoon. The TSX, meanwhile, closed at a fresh record high yesterday — before any of this hit. Here's what's moving markets today, and what it means for your wallet. 🇨🇦 TSX: Fresh Record High, But Led By the Wrong Sectors For Today Canada's benchmark index closed up 0.51% on Tuesday at 35,750 , a new closing high, powered by big bank strength and a blowout earnings beat from Celestica. But look under the hood and yesterday's leadership was almost the mirror image of what's driving global markets this morning: gold miners and energy names were both in the red as investors de-risked ahead of the Fed. Stock / Sector Move Celestica +9.5% Constellat...
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Explosions Ahead: Yemen’s Houthi Rebels Target Singapore-Flagged Ship in Gulf of Aden

 

On Friday, an audacious attack by Yemen’s Houthi rebels sent shockwaves through the Gulf of Aden. Explosions erupted ahead of a Singapore-flagged vessel, the bulk carrier Propel Fortune, as it plied its course. The incident unfolded against the backdrop of escalating tensions in the region.

The Propel Fortune, flying the Singaporean flag, bore the brunt of the assault. Yet, remarkably, it persevered, continuing its voyage undeterred. The United States military’s Central Command confirmed that the missiles did not strike the vessel, and no injuries or damages were reported. The ship’s resilience stands as a testament to maritime security protocols and the crew’s vigilance.

The Houthi rebels, backed by Iran, have been relentless in their campaign of aggression. Their actions are often linked to Israel’s ongoing conflict with Hamas in the Gaza Strip. While the Houthis claim their attacks aim to pressure Israel into ending the war, recent incidents reveal a broader scope. The Propel Fortune incident follows a fatal strike on a commercial ship earlier in the week, where three crew members lost their lives. These assaults, however, increasingly target vessels unrelated to the conflict, raising questions about the rebels’ true intentions.

In February, the Houthis targeted a fertilizer-carrying cargo ship, the Rubymar, which eventually sank after drifting for days. Additionally, they downed an American drone worth tens of millions of dollars. The U.S. responded with airstrikes, destroying two Houthi truck-mounted anti-ship missiles in Yemen. The rebels, though silent on the destruction, continue their provocations.

The Houthi rebels have held Yemen’s capital, Sanaa, since 2014, while battling a Saudi-led coalition in a protracted war. The U.S. airstrike campaign has taken its toll, with at least 22 Houthi fighters killed. Tragically, one civilian has also lost their life.

As the Gulf of Aden remains a theater of tension, the international community watches closely. The Propel Fortune incident serves as a stark reminder of the fragile balance in these troubled waters.


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