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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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TSB Investigates Cause of Halifax Plane Incident: Tilt and Flames During Landing

 

The Transportation Safety Board of Canada (TSB) has launched an investigation into a dramatic incident involving an Air Canada Express flight at Halifax Stanfield International Airport. The incident occurred late Saturday night when the Bombardier Q400 aircraft, operated by PAL Airlines, experienced a rough landing that caused the plane to tilt and sparks to fly from its wing, igniting flames.

Passengers on board reported feeling a "massive rumble" upon landing, followed by the sight of sparks and flames, and smoke entering the cabin. Airport spokesperson Tiffany Chase confirmed that the plane, arriving from St. John's, N.L., experienced a suspected landing gear issue, which prevented it from reaching the terminal.

Despite the alarming situation, all 73 passengers and crew members were safely evacuated by bus, with no serious injuries reported. The airport was temporarily closed for about 90 minutes, causing flight diversions and cancellations.

The TSB's investigation aims to determine the exact cause of the landing gear malfunction and assess whether any safety protocols were breached. The aviation community is closely watching the investigation, hoping to prevent similar incidents in the future.



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