
Market Open: Oil Gains Carry Canada's Main Index Up
Oil prices just keep rising boosting Canada's main stock index with it this morning.
Market Numbers (Futures)
TSX :Up ( 0.02%) 26,381.08TSXV: Up (0.60%) 725.90DOW: Up (0.04%) 42,813.00NASDAQ: Up (0.19%) 21,862.00
FTSE: Up (0.56%) 8,881.55
In the Headlines:
The U.S. Federal Reserve will keep interest rates on hold for at least another couple of months, as risks linger that inflation may resurge due to U.S. President Donald Trump's tariff policies.
And Canada Post has slammed the brakes on arbitration talks, rejecting the union's terms and plunging the contract dispute into a deepening stalemate with no clear path to resolution.
Currencies Update: (Futures)
The Canadian dollar is up 0.08% to $0.7311, also climbing by 0.02% to $0.6301 against the Euro and Bitcoin grabs a hold of 1.66% to 149,905.36
Commodities: (Futures)
Natural Gas: Down (1.30%), 3.59WTI: Up (0.54%), 65.64Gold: Up (0.32%), 3,338.12
Copper: Down (0.20%) 6.12
To stay up-to-date on all of your market news head to stockhouse.com
Join the discussion: Find out what everybody's saying check out the rest of Stockhouse's stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


CTV News
25 minutes ago
- CTV News
Iran says to target U.S. bases if conflict breaks out
Iranian domestically-built missile and drone are displayed during the Basij paramilitary force parade in Tehran, Iran, Friday, Jan. 10, 2025. (AP Photo/Vahid Salemi) TEHRAN, Iran — Iran threatened Wednesday to target U.S. military bases in the region if conflict breaks out, while President Donald Trump said he was 'less confident' about reaching a nuclear deal. Amid escalating tensions, a U.S. official said staff levels at the embassy in Iraq were being reduced over security concerns, while the UK Maritime Trade Operations, run by the British navy, advised ships to transit the Gulf with caution. Tehran and Washington have held five rounds of talks since April to thrash out a new nuclear deal to replace the 2015 accord that Trump abandoned during his first term in 2018. Since returning to office in January, Trump has revived his 'maximum pressure' campaign on Tehran, backing nuclear diplomacy but warning of military action if it fails. 'All its bases are within our reach, we have access to them, and without hesitation we will target all of them in the host countries,' Iran's Defence Minister Aziz Nasirzadeh said in response to U.S. threats of military action if the talks fail. 'God willing, things won't reach that point, and the talks will succeed,' the minister said, adding that the U.S. side 'will suffer more losses' if it came to conflict. The United States has multiple bases in the Middle East, with the largest located in Qatar. Iran and the United States have recently been locked in a diplomatic standoff over Iran's uranium enrichment, with Tehran defending it as a 'non-negotiable' right and Washington calling it as a 'red line'. Trump had previously expressed optimism about the talks, saying during a Gulf tour last month Washington was 'getting close' to securing a deal. But in an interview published Wednesday, Trump said he was 'less confident' the United States and Iran could reach a deal, in response to a question on whether he believed he could stop Tehran from enriching uranium. 'A shame' Iran currently enriches uranium to 60 percent, far above the 3.67-per cent limit set in the 2015 deal and close though still short of the 90 per cent needed for a nuclear warhead. Western countries, including the United States and its ally Israel, have long accused Iran of seeking to acquire atomic weapons, while Tehran insists its nuclear programme is for peaceful purposes. Last week, Iran's supreme leader Ayatollah Ali Khamenei said enrichment is 'key' to Iran's nuclear programme and that Washington 'cannot have a say' on the issue. During the interview with the New York Post's podcast 'Pod Force One', which was recorded on Monday, Trump said he was losing hope a deal could be reached. 'I don't know. I did think so, and I'm getting more and more -- less confident about it. They seem to be delaying and I think that's a shame. I am less confident now than I would have been a couple of months ago,' he said. 'Something happened to them but I am much less confident of a deal being made... Maybe they don't wanna make a deal, what can I say? And maybe they do. There is nothing final.' Trump maintained that Washington would not allow Tehran to obtain nuclear weapons, saying 'it would be nicer to do it without warfare, without people dying'. On May 31, after the fifth round of talks, Iran said it had received 'elements' of a U.S. proposal for a nuclear deal, with Araghchi later saying the text contained 'ambiguities'. Iran has said it will present a counter-proposal to the latest draft from Washington, which it had criticised for failing to offer relief from sanctions -- a key demand for Tehran, which has been reeling under their weight for years. On Monday, the United Nations nuclear watchdog began a Board of Governors meeting in Vienna that will last until Friday to discuss Iran's atomic activities and other issues. The International Atomic Energy Agency (IAEA) meeting followed a report issued by it criticising 'less than satisfactory' cooperation from Tehran, particularly in explaining past cases of nuclear material found at undeclared sites. Iran has criticised the IAEA report as unbalanced, saying it relied on 'forged documents' provided by its arch-foe Israel. In January 2020, Iran fired missiles at bases in Iraq housing American troops in retaliation for the U.S. strike that killed top Iranian general Qassem Soleimani days before at Baghdad airport. Dozens of U.S. soldiers suffered traumatic brain injuries.


Vancouver Sun
34 minutes ago
- Vancouver Sun
BC Ferries deal with Chinese shipyard makes waves in Ottawa
OTTAWA — BC Ferries set off a tidal wave of controversy on Tuesday after announcing a major shipbuilding deal with a Chinese state-owned enterprise, with the ripple effects of the decision reaching Ottawa. Vancouver Island Conservative MP Jeff Kibble raised the issue in Wednesday's question period, accusing the Liberal government of rewarding the provincial carrier for selling out Canada's national interest. 'The Liberals are set to hand over $30 million (in federal subsidies) to BC Ferries while BC Ferries hands over critical jobs, investment and industry to China,' said Kibble. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. BC Ferries said in a press release that it had awarded China Merchants Industry Weihai Shipyards (CMI Weihai) a contract to build four new vessels after a 'rigorous' global bidding process. Company CEO Nicolas Jimenez was quoted in the release as saying that CMI Weihai was the 'clear choice' for the contract given, among other factors, its 'proven ability to deliver safe, reliable vessels on dependable timelines.' Kibble blasted BC Ferries in the House of Commons for buying the ships from China instead of a 'proven Canadian shipbuilder' and pressed the Liberal government to tie federal ferry subsidies to buying Canadian-built ships. Liberal Transportation Minister Chrystia Freeland said that she shared Kibble's concerns about procurement 'at all levels of government' but wouldn't comment directly on the BC Ferries contract, calling it a provincial matter. One politician who hasn't hesitated to criticize the deal is the provincial minister responsible for BC Ferries. B.C. Transportation Minister Mike Farnworth was quick to distance himself from the decision, saying he was worried about the message it sends in the midst of Chinese economic aggression. 'I do have concerns around procuring services from any country that is actively harming Canada's economy through unfair tariffs or other protectionist trade practices. I have shared these concerns with BC Ferries,' Farnworth told the media. Yet, despite his reservations, he ruled out blocking the BC Ferries-CMI Weihai deal. 'BC Ferries is an independent company responsible for its own operational decisions,' said Farnworth. He added that he was 'disappointed' that the contract didn't include more involvement from Canadian shipyards. BC Ferries' head of fleet renewal, Ed Hooper, told Postmedia that no Canadian shipbuilders bid on the contract won by CMI Weihai. Liberal Prime Minister Mark Carney promised to ramp up Canadian shipbuilding during this spring's federal election campaign. The federal government previously awarded the Chinese state-owned company a contract to build a new vessel for east coast ferry operator Marine Atlantic, according to a 2023 filing from Transport Canada. The ship began service between Nova Scotia and Newfoundland in July 2024. Federal Procurement Minister Joël Lightbound didn't respond to an inquiry from the National Post about the BC Ferries-CMI Weihai deal, and didn't indicate whether the federal government would continue to take bids from the company. A spokesperson with Public Services and Procurement Canada told the National Post that CMI Weihai does not appear on the agency's database of active bids. National Post rmohamed@ Get more deep-dive National Post political coverage and analysis in your inbox with the Political Hack newsletter, where Ottawa bureau chief Stuart Thomson and political analyst Tasha Kheiriddin get at what's really going on behind the scenes on Parliament Hill every Wednesday and Friday, exclusively for subscribers. Sign up here . Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .


CTV News
an hour ago
- CTV News
U.S. preparing to partially evacuate Iraq embassy over regional security risks, sources say
FILE - The U.S. Embassy is seen from across the Tigris River in Baghdad, Iraq on Jan. 3, 2020. (AP Photo/Khalid Mohammed, File) The United States is preparing a partial evacuation of its Iraqi embassy and will allow military dependents to leave locations around the Middle East due to heightened security risks in the region, U.S. and Iraqi sources said on Wednesday. The four U.S. and two Iraqi sources did not specify which security risks had prompted the decision and reports of the potential evacuation pushed up oil prices by more than 4%. 'The State Department regularly reviews American personnel abroad and this decision was made as a result of a recent review,' White House spokeswoman Anna Kelly told Reuters when asked about reports of the partial evacuations, without giving further details. A White House official said U.S. President Donald Trump was aware of the move. The partial evacuations come at a moment of heightened tensions in a region already aflame after 18 months of war in Gaza that has raised fears of a wider conflagration pitting the U.S. and Israel against Iran and its allies. Trump has repeatedly threatened to strike Iran if stuttering talks over its nuclear program fail and on Wednesday he said he was growing less confident that Tehran would agree to stop enriching uranium, a key American demand. Iranian Defence Minister Aziz Nasirzadeh also said on Wednesday that Iran would retaliate against U.S. bases in the region if the nuclear talks failed and it was subjected to strikes. The United States has a military presence in Iraq, Kuwait, Qatar, Bahrain and the United Arab Emirates. U.S. Defense Secretary Pete Hegseth has authorized the voluntary departure of military dependents from locations across the Middle East, a U.S. official said. Another U.S. official said that was mostly relevant to family members located in Bahrain -- where the bulk of them are based. 'The State Department is set to have an ordered departure for (the) U.S. embassy in Baghdad. The intent is to do it through commercial means, but the U.S. military is standing by if help is requested,' a third U.S. official said. An Iraqi foreign ministry official said a 'partial evacuation' of U.S. embassy staff had been confirmed due to what the official termed 'potential security concerns related to possible regional tensions.' Another U.S. official said that there was no change in operations at Al Udeid Air Base in Qatar, the largest U.S. military base in the Middle East and that no evacuation order had been issued for employees or families linked to the U.S. embassy in Qatar, which was operating as usual. Tensions Oil futures climbed US$3 on reports of the Baghdad evacuation with Brent crude futures at $69.18 a barrel. Earlier on Wednesday Britain's maritime agency warned that increased tensions in the Middle East may lead to an escalation in military activity that could impact shipping in critical waterways. It advised vessels to use caution while traveling through the Gulf, the Gulf of Oman and the Straits of Hormuz, which all border Iran. Iraq, a rare regional partner of both the United States and its arch regional foe Iran, hosts 2,500 U.S. troops and has Tehran-backed armed factions linked to its security forces. Tensions inside Iraq have heightened since the start of the war in Gaza in October 2023, with Iran-aligned armed groups in the country repeatedly attacking U.S. troops. Top U.S. regional ally Israel has also struck Iran-linked targets across the region, including Iraqi armed groups operating both inside Iraq and in neighboring Syria. Iran's U.N. mission on Wednesday posted on X: 'Threats of 'overwhelming force' won't change facts: Iran is not seeking a nuclear weapon and U.S. militarism only fuels instability.' The statement appeared to be a response to an earlier comment by U.S. Central Command chief U.S. Army General Michael Kurilla that he had provided the president with 'a wide range of options' to prevent a nuclear-armed Iran. Reporting by Daphne Psaledakis, Idrees Ali and Steve Holland in Washington, Ahmed Rasheed and Timour Azhari in Baghdad and Parisa Hafezi in Dubai; writing by Jaidaa Taha, Yomna Ehab and Angus McDowall; Editing by Deepa Babington