| Index | Close | Week | Year to date |
|---|---|---|---|
| S&P/TSX Composite | 33,695.76 | 1.77% | 6.26% |
| Dow Jones Industrial Average | 47,916.57 | 3.04% | -0.31% |
| S&P 500 Index | 6,816.89 | 3.56% | -0.42% |
| Nasdaq Composite | 22,902.89 | 4.68% | -1.46% |
| 10-year Canadian Bond Yield | 3.47% | -0.02% | 0.05% |
| 10-year U.S. Treasury Yield | 4.31% | 0.00% | 0.13% |
| Canadian Dollar | US$0.72 | 0.67% | -0.86% |
Prime Rate 4.45% |
|||
Weekly performance ended April 10, 2026.
Sources: Morningstar Direct, Bank of Canada and U.S. Department of the Treasury
Stock markets gained despite geopolitical uncertainty
On Monday, the major U.S. stock indexes closed modestly higher, building on gains from the prior week despite the continuing rhetoric and geopolitical risks surrounding the Middle East conflict. The S&P 500 and Dow each rose 0.4%, while the Nasdaq advanced 0.5%. Canada’s TSX edged up about 0.2%, supported by gains for industrial companies and consumer‑focused stocks.
Markets were more subdued on Tuesday, as U.S. President Trump’s deadline for Iran to open the Strait of Hormuz approached. On Wall Street, the S&P 500 and Nasdaq each rose 0.1%, while the Dow slipped 0.2%, reflecting cautious positioning amid sharp intra-day swings. The TSX finished roughly 0.2% higher, paring earlier losses, as investors balanced the risk of further escalation against expectations that deadlines could once again be delayed.
A strong rally followed on Wednesday, with equity markets surging, after the announcement of a two‑week ceasefire between the U.S. and Iran. The Dow jumped 2.9%, the S&P 500 climbed 2.5%, and the Nasdaq advanced 2.8%. This marked a decisive improvement in investor sentiment after several days of heightened tension. Canadian equities also rose sharply, with the TSX gaining about 1.2%, as falling oil prices supported broad‑based buying outside the energy sector.
Markets moved more cautiously on Thursday, consolidating earlier gains. In the U.S., the Dow and S&P 500 each rose 0.6%, while the Nasdaq gained 0.8%. Canadian markets moved in the opposite direction, with the TSX slipping about 0.4%, weighed down by losses in the technology sector.
On Friday, U.S. stock markets were mixed following the release of March inflation data. The Dow fell 0.6% and the S&P 500 edged down 0.1%, while the Nasdaq rose 0.4%. Canadian equities climbed, with the TSX rising about 0.4%, supported by gains in the materials sector. Despite the late‑week pullback on Wall Street, the major indexes posted solid gains for the week overall, led by the technology sector.
Middle East ceasefire sparked a relief rally, while oil prices remained volatile
Markets responded positively after the U.S. and Iran announced a two‑week ceasefire Tuesday evening, easing concerns about an expanding conflict and prolonged disruption to global energy supplies.
Oil prices fell sharply on Wednesday, reversing much of their recent surge. The decline in energy prices broadly lifted equity markets, particularly companies that benefit from lower fuel and input costs. At the same time, energy stocks declined.
Thursday saw crude prices swing back up, reflecting uncertainty over the ceasefire’s viability. Iranian officials questioned whether conditions for ongoing negotiations had truly been met, as Israeli attacks on Lebanon continued. Later in the session, reports that Israel had proposed peace talks with Lebanon, along with expectations of planned talks between the U.S. and Iran over the weekend, helped lift investor sentiment and support stock markets into the close.
Canadian and U.S. economic data took focus
On Friday, Statistics Canada reported a modest employment rebound in March, with the economy adding 14,000 jobs, roughly in line with expectations. The unemployment rate held steady at 6.7%, suggesting labour market conditions remain relatively stable following job losses earlier in the year.
In the U.S., inflation data released by the Bureau of Labor Statistics showed a sharp pickup in March, driven largely by higher energy prices linked to the Middle East conflict. Consumer prices rose 0.9% from February, while annual inflation increased to 3.3%, marking the fastest pace in nearly two years. Elevated fuel costs accounted for much of the increase.
Don’t miss the best days in the market.
History shows that markets tend to bounce back quickly after major events. Staying invested – and continuing to invest – throughout market fluctuations is a proven way to capitalize on likely market recoveries. If you have questions about your investments, a Co-operators financial representative is always ready to help.
Economic data in focus
Canadian manufacturing and wholesale sales data, scheduled for release on Wednesday, will help investors gauge economic activity across goods‑producing sectors. In the U.S., a producer price inflation data release on Tuesday will offer an update on cost pressures, while oil supply reports on Tuesday and Wednesday could provide price signals for energy markets. The weekly jobless claims report on Thursday will provide a timely snapshot of labour market conditions.
More important dates
- April 29: Bank of Canada and U.S. Federal Reserve interest rate announcements
- April 30: 2025 personal income tax filing deadline
Mutual funds are offered through Co-operators Financial Investment Services Inc. to Canadian residents except those in Quebec and the territories. Segregated funds and annuities are administered by Co-operators Life Insurance Company. Not all products are available in all provinces.
Co-operators® is a registered trademark of Co-operators Group Limited and is used with permission.
© 2026 Co-operators Financial Investment Services Inc.
101 Cooper Dr, Guelph, ON N1C 0A4,
© 2026 Co-operators Life Insurance Company
1900 Albert St., Regina, SK S4P 4K8
The commentary in this report is based on current market conditions and market media sources available to the public and may change without prior warning at any time. The forecasts provided herein are not guarantees of future performance and include risks, uncertainty and assumptions. While Co-operators Financial Investment Services Inc. and Co-operators Life Insurance Company (“Co-operators”) believe these assumptions are reasonable, there is no guarantee they will be confirmed. This report is not a guarantee of future investment performance, nor should undue reliance be placed on this report. This report is provided as a general source of information for a specific point in time and should not be considered solicitation to buy or sell any investment. Nothing contained in this report constitutes investment, legal, tax or other advice. The content in this report should not be relied upon in making an investment or other decision, and individuals should obtain relevant and specific professional advice and read the terms and conditions contained in the relevant offering documents carefully before any investment decision is made. Co-operators is not responsible for any loss or damage as a result of reliance on the information contained in this report. Co-operators makes no representations or warranties as to the information contained herein and does not guarantee its accuracy, timeliness, completeness or usefulness.
If you are a client who has received this, and you have questions or want to discuss your investments, please contact your financial representative.
The Dow Jones Industrial Average and S&P 500 ("Indices") are products of S&P Dow Jones Indices LLC, its affiliates and/or their licensors and has been licensed for use by Co-operators Financial Services Limited. Copyright © 2026 S&P Dow Jones Indices LLC, its affiliates and/or their licensors. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices, please visit www.spdji.com. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.
The S&P/TSX Composite is a product of TSX Inc., its affiliates and/or their licensors and has been licensed for use by Co-operators Financial Services Limited. Copyright © 2026 TSX Inc. All rights reserved. Neither TSX Inc., their affiliates, nor their third-party licensors make any representation or warranty, express or implied, as to the accuracy of market representation of any index, or the context from which they are drawn, and shall not be liable for any errors, omissions or interruptions of any index or the data included therein.