Stocks edge higher on Strait of Hormuz news

Melisa R. H. Posted On April 6, 2026

Markets climbed cautiously higher on Monday after Iran allowed some non-American and non-Israeli oil tankers to pass through the Strait of Hormuz over the longer Easter weekend. On Saturday, 10 vessels were allowed and 11 more more followed on Sunday to countries such as France. However, this number is roughly 10% of the normal traffic through this critical waterway. As a result, the S&P inched 0.44% higher, the Nasdaq 0.54%, the Dow 0.36% and the TSX 0.22% or 73 points. Meanwhile, Iran rejected a call for a cease fire and instead demanded a permanent halt in hostilities, while Trump over the weekend tweeted a furious message, threatening to kill Iranian civilians and dropping the F-bomb that left many questioning his behaviour.

On Wall Street, AppLovin soared 6.81%, Seagate 5.58%. Invesco -5.22%, Lumentum -6.6% and Tesla -2.15%. In Toronto, MDA Space rocketed 6.76%, First Quantum Minerals 5.06%, Baytex 4.72%, Stella Jones -2.68% and Transcontinental -2.47%. Silver stayed flat at US$73, gold slipped US$20 to US$4,655 and WTI climbed 0.7% to US$112.30. Meanwhile, Bitcoin rallied 3.45% to nearly US$70,000. The U.S. 10-year yield held around 4.44%.