Futures tracking the S&P/TSX Composite Index edged down on Thursday as Iran tightened its grip on the Strait of Hormuz, renewing shipping concerns with no sign of resumed peace talks. On Wednesday, Iran captured two ships attempting to exit the Strait and demanded the US lift its naval blockade, which remains in effect despite President Trump’s indefinite ceasefire extension. Banks are set to open lower amid fears of energy-driven stagflation and potential rate hikes. Gold fell, pressuring mining stocks. In other news, Waste Connections reported Q1 2026 earnings above expectations after the bell on Wednesday, while Fairfax Financial is scheduled to release results today.
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