Canadian shares look headed for a gap down opening on Thursday amid renewed concerns about inflation and economic growth as oil prices rose sharply after U.S. President Donald Trump said U.S. forces will strike Iran extremely hard in the next two to three weeks.
The U.S. President, who did not give a timeline for ending the conflict, offered no plan to reopen the Strait of Hormuz but pledged further strikes on energy facilities in the event of Tehran rejecting a deal.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.