Markets Rise as Oil and Gold Stay Elevated
Markets Rise as Oil and Gold Stay Elevated
Markets pushed higher this week as strength in commodities and improving investor sentiment helped offset ongoing geopolitical uncertainty. Gold and oil remained elevated amid global tensions, while Canada’s labour market showed signs of moderation as unemployment ticked higher. Together, the developments reinforced a market environment still driven by commodities, policy expectations, and broader economic resilience.
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Here's how some major markets/indexes performed in the last 5-days:
- Dow Jones: 49,598 (0.37%)
- Nasdaq 100: 29,171 (5.19%)
- TSX: 34,055 (0.61%)
- BTC: 80,226 (2.12%)
- GOLD: 4,726 (2.09%)
- SILVER: 80.5 (9.40%)
(USD)
As of 05/07/2026 at 11:40PM PST
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Markets Push Higher as Commodity Strength Returns
Catch Up
North American markets moved higher this week as investors responded positively to gains in commodities and improving sentiment across several major sectors.
What Happened
- Canada’s main stock index climbed more than 200 points, supported by strength in mining and resource-related shares.
- U.S. equities also advanced, with technology stocks continuing to help lift broader indexes toward recent highs.
- Gold and oil prices remained elevated, contributing to gains in energy and materials sectors despite ongoing geopolitical uncertainty.
- Investor sentiment improved toward the end of the week as markets adjusted to shifting expectations around growth and inflation.
Why It Matters
The rebound highlights how quickly sentiment can stabilize when commodity prices and earnings momentum remain supportive. While volatility tied to geopolitical developments is still influencing markets, continued strength in resources and large-cap equities suggests investors remain focused on longer-term fundamentals rather than short-term swings.
Lexaria Bioscience (NASDAQ: LEXX)
Finds its Niche in the Lucrative GLP-1 Market
Clinch Resources (TSX:CLCH)
Makes its Move Into the Met Coal Market
Oil Prices Rise as Energy Markets Stay Sensitive
Catch Up
Oil markets remained volatile this week as renewed tensions involving Iran pushed energy prices higher and kept investors focused on global supply risks.
What Happened
- U.S. crude prices moved sharply higher after fresh hostilities raised concerns about stability in the Middle East and the future of key shipping routes.
- Brent crude briefly traded back above the US $100 level before easing later in the session.
- Markets also reacted to uncertainty surrounding the Strait of Hormuz, a major corridor for global oil shipments.
- Despite the volatility, traders continue to watch for signs of stabilization and renewed diplomatic progress.
Why It Matters
Energy markets often react quickly to geopolitical developments, particularly when global supply routes are involved. While recent price swings have added volatility, elevated oil prices can support energy-sector earnings and commodity-linked equities. For investors, the broader focus remains on whether disruptions stay temporary or evolve into longer-term supply concerns.
IAMGOLD (TSX: IMG, NYSE: IAG) continues to strengthen its foundation for long-term value creation.
With copper demand tied to long-term industrial and electrification trends, Selkirk Copper (TSX.V: SCMI, FRA: IO20, OTCQB: SKRKF) is advancing a restart ready project in the Yukon.
NevGold (TSX.V: NAU, OTCQX: NAUFF) is advancing a U.S.-based antimony project in Nevada, aiming to support domestic supply of a critical mineral used in defense technologies, batteries, and advanced industrial applications.
Lahontan (TSX.V: LG, OTCQB: LGCXF) has received its plan of operations permit, allowing the company to move into the next phase of defining the size and potential of the project.
Canada’s Job Market Shows Signs of Cooling
Catch Up
Canada’s labour market softened in April as unemployment edged higher and full-time hiring slowed across several sectors.
What Happened
- The national unemployment rate rose to 6.9%, marking its highest level in six months.
- Full-time employment declined during the month, while gains in part-time work helped offset broader losses.
- Goods-producing industries, including sectors tied to trade and manufacturing, saw some of the largest pullbacks.
- Regional unemployment rates varied across the country, with some provinces and cities continuing to show resilience despite the broader slowdown.
Why It Matters
A softer labour market can ease pressure on inflation and influence expectations around future interest rate decisions. While hiring conditions have become more cautious, wage growth and labour participation remain relatively stable, suggesting the economy is slowing rather than stalling. For investors, employment trends remain a key indicator for consumer spending, rate policy, and broader economic momentum.
📢 This Week's Selected Company News:
GameStop’s eBay Bid Faces Investor Skepticism
GameStop’s proposed takeover bid for eBay continues to generate attention across markets, though investors remain divided on the feasibility of the deal. While the offer would mark one of the largest transactions in the retail and e-commerce space, questions around financing and strategic fit have kept market reaction measured as both companies evaluate next steps.
Warner Bros. Discovery Reports Wider Quarterly Loss
Warner Bros. Discovery reported a larger quarterly net loss as restructuring costs and streaming-related expenses continued to weigh on results. Despite the loss, the company pointed to ongoing growth in its streaming business and international expansion efforts as it works to strengthen its position in the evolving media landscape.
Novo Nordisk Signals Openness to New Partnerships
Novo Nordisk leadership indicated the company is actively exploring strategic partnerships and acquisition opportunities as competition in the obesity and diabetes drug market continues to intensify. The comments come as demand for GLP-1 treatments remains strong, with pharmaceutical companies racing to expand pipelines and strengthen long-term growth positioning.
BriaCell Therapeutics (Nasdaq: BCTX, BCTXW, BCTXZ) (TSX: BCT) is in the final stages of clinical testing for its innovative immunotherapy in metastatic breast cancer, offering a new treatment path for patients with limited options.
HIVE Digital Technologies (TSX.V: HIVE, NASDAQ: HIVE) operates AI data centers across Canada, purpose-built for the compute demands driving the modern economy. Powered by hydroelectric energy. Built to scale.
📬 That’s a wrap for this week!
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BTV Business Television / CEO Clips
