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Markets Digest Hot U.S. Inflation as Iran Tensions Keep Oil Elevated

Publication:  moneysavings.ca / Canadian Money Brief  Date:  Tuesday, May 13, 2026 The TSX opens cautiously Wednesday after hotter-than-expected U.S. CPI data rattled Wall Street on Tuesday, while Strait of Hormuz disruptions continue to lift energy stocks and pressure the loonie toward 1.35 against the greenback. TSX ~34,291 S&P 500 7,400.96 ▼0.16% WTI Oil ~$102/bbl ▲ Gold ~$4,721 USD/oz ▼ USD/CAD ~1.35 US CPI Apr 3.8% ▲ (est. 3.7%) Market Overview Canadian investors are starting Wednesday on a cautious note following a mixed session south of the border. U.S. equities dipped Tuesday after April's consumer price index came in at 3.8% — a touch above the 3.7% consensus forecast and the highest reading since May 2023 — while the core rate held at 2.8%, also above expectations. The data has effectively closed the door on any Federal Reserve rate cuts in 2026, with traders now pricing in a roughly 70% chance of a rate hike by April 2027. For Canadians, the ripple effects...
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Market Resilience: US Futures Recover After Initial Shock from Israel-Iran Tensions


In the wake of heightened geopolitical tensions following an Israeli strike on Iranian targets, US stock market futures experienced a significant downturn. The initial reaction saw a flight to traditional safe havens, with gold prices surging and oil markets fluctuating. However, as the day progressed, a sense of stability began to return to the markets.

  • Initial Panic: The news of Israel’s retaliatory strike against Iran caused a knee-jerk reaction.
  • Safe Haven Surge: Investors rushed to gold and oil, seeking security amid the uncertainty.
  • Stabilizing Markets: Despite the early scare, US futures have started to recover, indicating a robust market resilience.
  • Investor Watchfulness: The situation remains fluid, with investors closely monitoring any further developments in the Middle East.

As the market steadies itself, the focus now shifts to the Federal Reserve’s interest rate decisions and upcoming corporate earnings reports, which could further influence market movements. The resilience of US futures today underscores the market’s ability to weather geopolitical storms and adapt to evolving global events.

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