TORONTO — Canada’s main stock index finished in negative territory, while the U.S. stock market’s record-breaking rally slowed on Monday after uncertainty rose over the weekend about what will happen next in the Iran war.

The S&P 500 inched 0.1 per cent higher to its latest all-time high, a downshift following weeks of big gains driven by strong corporate profit reports and hopes that the economy can avoid a worst-case scenario because of the war.

Jillian Bryan, senior investment adviser and senior portfolio manager at TD Wealth, said that overall, it was a “pretty quiet day” in the market.

“I think it’s probably just due to the fact that we’ve got an extremely busy earnings week later in the week with 180 S&P constituents reporting, including Amazon, Google, Meta, and Microsoft after the close on Wednesday, and then you have Apple post-close on Thursday,” she said.

The S&P/TSX composite index was down 85.92 points at 33,818.19.

In New York, the Dow Jones industrial average was down 62.92 points at 49,167.79. The S&P 500 index was up 8.83 points at 7,173.91, while the Nasdaq composite was up 50.50 points at 24,887.10.

Most big U.S. companies have been reporting profit growth for the start of 2026 that’s even stronger than analysts expected.

This upcoming week could be a blockbuster for the market, with several of Wall Street’s most influential stocks scheduled to deliver their profit reports.

The moves were stronger in the oil market, where prices climbed more than 2.5 per cent as tankers find the Strait of Hormuz still effectively closed. That’s keeping crude stuck in the Middle East and away from customers worldwide, including oil produced by Iran that’s being blockaded by the U.S. Navy.

The June crude oil contract was up US$1.97 at US$96.37 per barrel.

The price for a barrel of Brent crude to be delivered in June climbed 2.8 per cent to settle at US$108.23. Brent to be delivered in July, which is where more of the trading is happening in the oil market, rose 2.6 per cent to US$101.69 per barrel.


Iran has offered to reopen the strait if the United States ends its blockade, while proposing that discussions on the larger question of its nuclear program would come at a later time. But U.S. President Donald Trump seems unlikely to accept the offer, which was passed to the Americans by Pakistan.

Over the weekend, Trump told U.S. envoys not to go to Pakistan, which has been playing a crucial mediating role. By saying the Iranians could call Washington with any proposal, Trump appeared to signal he’s content to try to continue to squeeze Iran with the blockade.

The Canadian dollar traded for 73.45 cents US compared with 73.11 cents US on Friday.

The June gold contract was down US$47.20 at US$4,693.70 an ounce.

This report by The Canadian Press was first published April 27, 2026.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD, TSX:ARX)

— with files from The Associated Press

Daniel Johnson, The Canadian Press