Canadian Stocks Jump on Hormuz Deal Hopes, Strong Corporate Earnings -- Market Talk

1349 ET - Toronto-listed stocks rally in midday trading, buoyed by strong corporate earnings and optimism surround a potential Middle East deal. Canada's S&P/TSX Composite Index and the blue-chip S&P/TSX 60 are up 1.7% and 1.3%, respectively, driven by strength in tech and mining stocks. Conversely, health tech and energy lag, with energy tracking lower crude prices around $75 a barrel. Market sentiment is getting a major lift after U.S. Treasury Secretary Scott Bessent signaled on CNBC that an agreement with Iran to reopen the Strait of Hormuz could be reached as early as tomorrow, giving equities a dual catalyst alongside solid earnings. (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

August 04, 2026 13:49 ET (17:49 GMT)