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S&P/TSX composite down as price of oil falls, U.S. stock markets climb higher

On Thursday, Canada's main stock index fell nearly 150 points as oil prices dropped following a deal between the United States and Iran to end their war and reopen the Strait of Hormuz.
The agreement waives sanctions against Iran, allowing it to sell oil freely while reopening the Strait of Hormuz, where one-fifth of the world's oil supply is shipped.
Led by technology stocks, U.S. markets rose Thursday after President Donald Trump announced Intel will manufacture chips for Apple; Micron Technology shares jumped 8.7 per cent.
Brianne Gardner, senior wealth manager at Velocity Investment Partners, noted weakness in Canada's basic materials and energy sectors weighed on the TSX, though financial gains provided some offset.
The Federal Reserve may raise interest rates this year to combat inflation, shifting course from previous plans to cut benchmark rates, which remains a key focus for investors.

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TSX falls more than 150 points amid weaker energy stocks, U.S. markets rise

TORONTO — Canadian and U.S. markets moved in opposite directions Thursday as commodity prices weighed on materials and energy stocks. Brianne Gardner, senior wealth manager of Velocity Investment Partners at Raymond James Ltd.

2 hours ago

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The Toronto Star

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S&P/TSX composite down as price of oil falls, U.S. stock markets climb higher

TORONTO - Canada's main stock index was down nearly 150 points in late-morning trading as the price oil fell after the United States and Iran signed an agreement to end

7 hours ago·Toronto, Canada

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