TORONTO — Markets in Canada and the United States were up in late-morning trading as investors await a potential deal that could reopen the Strait of Hormuz.
U.S. President Donald Trump said a deal to reopen the strait could come as early as Wednesday, as Iran and Oman inched toward an agreement on the critical waterway that could ease pressure on the global economy and potentially help bring an end to the war.
The S&P/TSX composite index was up 480.44 points at 36,282.03.
In New York, the Dow Jones industrial average was up 593.27 points at 54,679.15. The S&P 500 index was up 32.77 points at 7,769.29, while the Nasdaq composite was up 38.90 points at 26,623.89.
The Canadian dollar traded for 71.33 cents US, compared with 71.08 cents US on Tuesday.
The September crude oil contract was down 61 cents US at US$75.16 per barrel, while the December gold contract was up US$146.20 at US$4,298.80 an ounce.
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This report by The Canadian Press was first published Aug. 5, 2026.
