S&P/TSX composite up bigger than 150 functions, U.S. stock markets blended

TORONTO – Canada’s main stock index rose on Monday, as U.S. markets posted blended results and oil prices fell.

Michael Currie, senior investment adviser at TD Wealth, said the U.S.-Iran negotiations persevered to salvage the dignity of the market, which is a mountainous driver of oil prices.

The August shocking oil contract became down US$1.ninety nine at US$73.86 per barrel

“What we’re seeing is (a) most incessantly sure feeling that it’s going to be settled soon, so oil prices bear dropped very most fascinating real, they’re down below US$75 now so it’s been a truly most fascinating interesting fall from the height,” he said.

Talks took situation over the weekend between the 2 international locations. U.S. Vice President JD Vance said they created a “real foundation for a successful last deal.”

On monetary markets, the S&P/TSX composite index became up 144.84 functions at 35,002.18. In Novel York, the Dow Jones industrial common became up 148.01 functions at 51,712.71. The S&P 500 index became down 27.seventy nine functions at 7,472.seventy nine, whereas the Nasdaq composite became down 351.33 functions at 26,166.60.

An terminate to the war in the Heart East could well sure the Strait of Hormuz for oil tankers and allow for the undisputed resumption of deliveries from the Persian Gulf. Iran’s military had said Saturday that it closed the Strait of Hormuz all any other time, even though U.S. Central Expose has disputed that.

The price for a barrel of Brent shocking oil fell 3.2 per cent to US$77.52, closer to its roughly US$70 imprint from sooner than the war.

The decrease oil prices, even though, did no longer pull down Treasury yields in the bond market. Yields were ice climbing as a result of of hypothesis the U.S. Federal Reserve could well also impartial hike curiosity charges this year to take care of a lid on inflation, which has been accelerating as a result of of costly oil precipitated by the Iran war.

The yield on the ten-year Treasury climbed to 4.50 per cent from 4.46 per cent dull Thursday and from honest 3.97 per cent sooner than the war.

Traders are making a bet on a nearly 90 per cent likelihood the Fed will develop its federal funds rate at the least once by the terminate of the year, with a cramped minority calling for four will enhance. That’s up from the 57 per cent likelihood considered honest a week ago, in accordance to knowledge from CME Neighborhood.

Within the Canadian stock market, the utilities and classic provides sectors led the general index higher.

The August gold contract became down US$43.20 at US$4,202.70 an oz..

Investors additionally digested inflation figures for Could most seemingly, which showed imprint pressures from the war in Iran began to sever up originate air the fuel pumps. Statistics Canada said Monday that the annual rate of inflation jumped to three.2 per cent in Could most seemingly, up from 2.8 per cent in April and notching the perfect headline inflation rate since December 2023.

Most economists weighing in on Monday observed minute cause for scare in the client imprint knowledge, with oil prices already receding and the Bank of Canada no longer going to transfer from the sidelines any time soon.

Then all any other time, Currie said the inflation pick is the latest in a assortment of industrial knowledge he would describe as “no longer sure,” whereas the Canadian stock market continues to transfer higher.

He said that whereas there were prolonged-standing debates about the relationship between the financial system and stock market, there became a prolonged length of “divergence between the 2.”

The Canadian greenback traded for 70.61 cents US compared with 70.57 cents US on Friday.

This document by The Canadian Press became first published June 22, 2026.

— With files from The Associated Press

Companies in this account: (TSX: GSPTSE, TSX: CADUSD)