TSX rises, U.S. markets hit new highs as Iran says Strait of Hormuz open

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Canada’s main stock index rallied and U.S. markets moved further into record territory, as oil plunged after Iran’s foreign minister said the Strait of Hormuz is fully open.

The S&P/TSX composite index was up 294.06 points at 34,346.29.

In New York, the Dow Jones industrial average was up 868.71 points at 49,447.43. The S&P 500 index was up 84.78 points at 7,126.06, while the Nasdaq composite was up 365.78 points at 24,468.48.  

The June crude oil contract was down US$8.58 at US$82.59 per barrel.  

The June gold contract was up US$71.30 at US$4,879.60 an ounce.

The Canadian dollar traded for 73.15 cents US compared with 72.94 cents US on Thursday.

This report by The Canadian Press was first published April 17, 2026.

Daniel Johnson, The Canadian Press. With files from The Associated Press.