{"id":119881,"date":"2026-05-07T09:19:48","date_gmt":"2026-05-07T13:19:48","guid":{"rendered":"https:\/\/www.businessupturn.com\/usa\/?p=119881"},"modified":"2026-05-07T09:19:48","modified_gmt":"2026-05-07T13:19:48","slug":"tsx-futures-rise-0-5-while-oil-drops-below-100-as-us-iran-peace-hopes-lift-global-markets","status":"publish","type":"post","link":"https:\/\/www.businessupturn.com\/usa\/tsx-futures-rise-0-5-while-oil-drops-below-100-as-us-iran-peace-hopes-lift-global-markets\/119881\/","title":{"rendered":"TSX futures rise 0.5% while oil drops below $100 as US Iran peace hopes lift global markets"},"content":{"rendered":"
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Canadian stock market futures moved higher on Thursday as investors reacted positively to growing hopes of a possible peace agreement between the United States and Iran. The optimism pushed global equities upward while oil prices continued to slide sharply below the $100 mark.<\/p>\n

By 08:40 ET, futures linked to Canada\u2019s main S&P\/TSX 60 index gained 9 points or 0.5%. Investors remained focused on easing geopolitical tensions after reports suggested fresh peace talks between Washington and Tehran could begin next week.<\/p>\n

The Toronto Stock Exchange\u2019s S&P\/TSX composite index had already rallied strongly in the previous session. The index jumped 1.2% to close at 33,981.82, marking its highest closing level since April 20.<\/p>\n

Markets were supported by growing expectations that the Middle East conflict could move closer to resolution after more than two months of tensions.<\/p>\n

TSX index hits highest level since April as mining and financial stocks rally<\/h2>\n

The latest gains in Canadian markets were driven mainly by financial and metal mining stocks. Those sectors offset weakness in energy companies as crude oil prices continued to decline sharply.<\/p>\n

Oil and gas producer Canadian Natural Resources remained in focus before markets opened after the company reported first quarter profits above analyst estimates. Higher production levels helped boost earnings despite recent pressure in oil markets.<\/p>\n

Natural gas solutions company Enerflex also posted higher quarterly revenue, showing resilience in the energy services sector.<\/p>\n

Meanwhile, tissue maker Cascades reported sales that came in slightly below market expectations.<\/p>\n

The broader TSX index reflected improving investor sentiment as fears of a wider Middle East conflict began to cool.<\/p>\n

Nasdaq and S&P 500 hit record highs as AI stocks surge again<\/h2>\n

US stock futures also traded slightly higher on Thursday morning following strong gains in the previous session.<\/p>\n

Dow futures climbed 0.3%, while S&P 500 futures and Nasdaq 100 futures each added 0.1%.<\/p>\n

The benchmark S&P 500 and the Nasdaq Composite both closed at fresh record highs on Wednesday. Investor confidence improved after reports indicated that the US and Iran were moving closer toward a possible peace agreement.<\/p>\n

Technology stocks led the rally once again as enthusiasm around artificial intelligence returned strongly to Wall Street.<\/p>\n

Advanced Micro Devices gained attention after the chipmaker delivered strong returns and signaled continued momentum in AI demand.<\/p>\n

AI server company Super Micro Computer emerged as one of the session\u2019s biggest winners. Its shares surged more than 24% after the company issued an upbeat quarterly revenue forecast.<\/p>\n

Market analysts noted that the latest AI rally was backed by strong earnings growth rather than pure speculation. S&P 500 earnings growth is now approaching 30% for the quarter, largely driven by major technology firms.<\/p>\n

US Iran peace talks pressure oil prices below $100 per barrel<\/h2>\n

Oil prices continued to slide as investors assessed the possibility of renewed diplomatic talks between Washington and Tehran.<\/p>\n

Brent crude futures fell 3.4% to $97.78 per barrel, while US West Texas Intermediate crude dropped 3.9% to $91.42 per barrel.<\/p>\n

The sharp decline pushed oil back below the key $100 level after weeks of conflict driven price spikes.<\/p>\n

Energy markets had surged earlier because of concerns around disruptions in the Strait of Hormuz, a crucial shipping route responsible for nearly 20% of global oil supply.<\/p>\n

Despite the latest drop, oil prices still remain significantly higher than pre war levels.<\/p>\n

Gasoline prices in the United States have also surged above $4.50 per gallon, reaching levels last seen during the peak of the COVID 19 inflation crisis in 2022.<\/p>\n

President Donald Trump stated on Wednesday that the United States had effectively \u201cwon\u201d the war and described recent talks with Tehran as \u201cvery good.\u201d<\/p>\n

Reports suggested that Washington and Tehran are working through mediators on a framework aimed at restarting negotiations over sanctions relief and Iran\u2019s nuclear program.<\/p>\n

However, disagreements still remain over nuclear enrichment and international inspections.<\/p>\n

Iran\u2019s response to the proposal is expected soon, with reports indicating that mediators could receive Tehran\u2019s official position by Thursday.<\/p>\n

Investors largely viewed the ongoing talks as a sign that both sides are trying to avoid another escalation in the conflict.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Canadian stock market futures moved higher on Thursday as investors reacted positively to growing hopes of a possible peace agreement\u2026<\/p>\n","protected":false},"author":294,"featured_media":119882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[23247,1617,22769],"class_list":["post-119881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-markets","tag-canada-stock-market","tag-stock-market","tag-tsx"],"reading_time":"4 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/119881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/294"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=119881"}],"version-history":[{"count":1,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/119881\/revisions"}],"predecessor-version":[{"id":119883,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/119881\/revisions\/119883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/119882"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=119881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=119881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=119881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}