Futures tracking the S&P/TSX Composite Index slipped on Thursday as Iran tightened control over the Strait of Hormuz, reigniting concerns about shipping disruptions and with no indication that peace talks will resume. On Wednesday, Iran seized two vessels attempting to leave the Strait and demanded that the US end its naval blockade, which remains in place despite President Trump’s decision to extend the ceasefire indefinitely.
Financial stocks are poised to open lower amid renewed fears of energy-driven stagflation and the possibility of further interest rate hikes. Gold prices declined, adding pressure to mining shares. Elsewhere, Waste Connections reported better-than-expected Q1 2026 earnings after Wednesday’s close, while Fairfax Financial is set to announce its results later today.
