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Canada Futures Rise as Hopes of Mideast Truce Boost Sentiment
Markets rallied on hopes for a U.S. war pause plan with the S&P/TSX up 1.4%, marking a third straight day of gains amid Middle East conflict de-escalation signs.
- Canadian and U.S. stock markets rose Wednesday as the United States delivered a peace proposal to Iran to pause the war. The S&P/TSX composite index climbed 441.01 points, marking its third consecutive day of gains.
- Investors reacted to positive commentary from President Donald Trump over the past 24 hours, signaling strong willingness to conclude the conflict. Iran is reviewing the U.S. proposal despite initially negative public responses.
- Gold prices climbed US$150.30 to US$4,552.30 an ounce, prompting a relief rally for miners, while energy stocks rose 0.8% even as oil settled 2.2% lower at $90.32 a barrel. All 10 major sectors notched gains.
- "So far so good, but we're still in a volatile environment," said Colin Cieszynski, chief market strategist at SIA Wealth Management. Markets reflect hope for a reopening of the Strait of Hormuz, though Iran claims no formal negotiations are planned.
- The conflict has significantly disrupted global shipments, with the Strait of Hormuz typically carrying one-fifth of the world's LNG and crude supply. Achieving a lasting ceasefire is critical to stabilizing markets and global energy infrastructure.
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US stocks rose on Wednesday. At the close of trading in New York, the Dow Jones Industrial Average stood at 46,429 points, a gain of 0.7 percent compared to the previous trading day. A few minutes earlier, the broader S&P 500 was up 0.5 percent at around 6,592 points, while the tech-heavy Nasdaq Composite was up 0.7 percent at around 24,163 points. The US reportedly presented a plan to end the war with Iran, which it initiated with Israel. Altho…
The New York stock exchanges closed with modest gains. Optimism about the possibilities for an end to the war in Iran caused investors to put money into stocks again. Oil prices fell slightly.
·Apeldoorn, Netherlands (Kingdom of the)
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Total News Sources11
Leaning Left2Leaning Right0Center1Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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