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Gold prices gained on Tuesday, supported by a decline in oil ​prices that tempered inflation ​fears and lowered U.S. ​interest rate hike bets, while markets awaited further clues on the Federal Reserve’s policy path.

Spot gold rose 0.6% to $4,078.10 per ounce, ‌while U.S gold futures gained 1.1% to $4,134.60.

Oil prices ⁠pared gains after Qatar said efforts to secure a diplomatic resolution to the U.S-Iran conflict were continuing, though disruptions to oil flows through key shipping routes persisted. Brent crude futures were ‌down over 4% on the news.

Lower oil is probably one of the drivers supporting gold prices, said Bart Melek, global head ​of commodity strategy at TD Securities, adding that the decline in many ways has contributed to the interest rate outlook with short-term rates falling a little bit.

Elevated energy prices reinforce expectations that ⁠the Fed will keep interest rates higher-for-longer to combat inflation, weighing on non-yielding bullion.

Earlier on ‌Monday, Fed’s New York President John Williams said he ‌remained optimistic that inflation pressures were on track to ease gradually, but if they do not, the U.S central bank will not hesitate to respond with rate ⁠hikes.

Traders are now pricing in about a 61% chance of a ⁠rate hike in the central bank’s September meeting after ⁠a divided Fed kept rates unchanged at its last policy meeting.

Market participants are now awaiting a series of U.S jobs reports ​this week, including the ADP ‌employment report due on Wednesday and the nonfarm payrolls data on Friday.

“Anything that shows economic weakness is probably accretive to gold, mainly because it reduces the likelihood or the need for the central bank to act on interest rates,” Melek ​said.

Oil prices fell sharply Tuesday after Treasury Secretary Scott Bessent indicated there may be a deal to open the Strait of Hormuz as soon as this week.

Brent, the international oil benchmark, slid 5.3% to close at $79.36 per barrel. West Texas Intermediate futures lost 5.7% to settle at $75.77.

“We are in talks with the Iranians,” Bessent told CNBC’s “Squawk Box.” “There is a chance we may have a deal today or tomorrow to open the Strait and move towards a more normalized position in this conflict.”

“It would be freedom of movement,” the Treasury Secretary said when asked whether Iran would be allowed to charge a toll.

Tehran is considering allowing European countries to clear mines from Hormuz, diplomats familiar with the matter told Bloomberg News. Mines in the strait are one of the biggest obstacles to normalizing traffic.

President Donald Trump said over the weekend that he called off a major attack on Iran to allow for negotiations over Hormuz. The U.S. and Iran signed a deal on June 17 to reopen the strait but that agreement quickly collapsed.

Iran wants commercial ships to transit through Hormuz using the Islamic Republic’s territorial waters. It has repeatedly attacked vessels sailing through the strait along Oman’s coast under U.S. military protection.

A cargo ship was struck Monday by an unknown projectile about 20 nautical miles northeast of Al Khasab, Oman, according to an incident report from the United Kingdom Maritime Trade Operations Centre.

“Iran is unlikely to agree to any deal without getting control of the Strait, and thus we view any potential deal as being highly likely to fail at this point,” said Ryan McKay, director of commodity strategy at TD Securities.

Oil exports through Hormuz are unlikely to surge after a deal, McKay said in a Tuesday note. Flows “are already in line with what the current production recovery would imply, suggesting the upside for flows, even under a comprehensive deal, is minimal,” the strategist said.

Suncor Energy SU-T -3.56%decrease on Tuesday beat analysts’ estimates for second-quarter adjusted profit, helped by higher crude price realizations and stronger refining margins.

Oil prices, boosted by the Iran war, have strengthened earnings prospects for Suncor and its oil sands peers, with Brent’s climb toward US$100 a barrel reinforcing Canada’s pitch as a safer, chokepoint-free alternative to Gulf crude.

Suncor’s refinery crude oil throughput rose to a second-quarter record of 470,600 barrels per day from 442,300 barrels per day, while its refinery utilization increased to 92 per cent from 87 per cent.

However, its total upstream production fell to 760,900 barrels per day from 808,100, partly due to a planned Firebag turnaround.

The Calgary, Alberta-based company posted adjusted operating earnings of $3.23 per share for the quarter ended June 30, above analysts’ average estimate of $3.07 per share, according to data compiled by LSEG.

Aug. 5: Chorus Aviation Inc. (CHR-T), Flagship Communities REIT (MHC-UN-T), Kinaxis Inc. (KXS-T), Doman Building Materials Group Ltd. (DBM-T), Propel Holdings Inc. (PRL-T), Xanadu Quantum Technologies Ltd. (XNDU-T), Thinkific Labs Inc. (THNC-T), AirBoss of America Corp. (BOS-T), Kits Eyecare Ltd. (KITS-T), Galaxy Digital Holdings Ltd. (GLXY-T), Pizza Pizza Royalty Corp. (PZA-T), Aurora Cannabis Inc. (ACB-T), Savaria Corp. (SIS-T), Dorel Industries Inc. (DII-B-T), Sprott Inc. (SII-T)

Aug. 6: NFI Group Inc. (NFI-T), Enerflex Ltd. (EFX-T), Interfor Corp. (IFP-T), Cascades Inc. (CAS-T), Plaza Retail REIT (PLZ-UN-T), Rogers Sugar Inc. (RSI-T), Cronos Group Inc. (CRON-T), Profound Medical Corp. (PRN-T), TerrAscend Corp. (TSND-T), Premium Brands Holdings Corp. (PBH-T), Altus Group Ltd. (AIF-T), Goeasy Ltd. (GSY-T), Alaris Equity Partners Income Trust (AD-UN-T), Medical Facilities Corp. (DR-T), VitalHub Corp. (VHI-T), Knight Therapeutics Inc. (GUD-T)

Aug. 7: Superior Plus Corp. (SPB-T), Docebo Inc. (DCBO-T), Trulieve Cannabis Corp. (TRUL-CN), Slate Grocery REIT (SGR-UN-T), DRI Healthcare Trust (DHT-UN-T), Fiera Capital Corp. (FSZ-T)

Aug. 10: Cargojet Inc. (CJT-T),Silvercorp Inc. (SVM-T), Altius Minerals Corp. (ALS-T)

Aug. 11: Neo Performance Materials Inc. (NEO-T), Pason Systems Inc. (PSI-T), Minto Apartment REIT (MI-UN-T), BTB REIT (BTB-UN-T), Cineplex Inc. (CGX-T), Pet Valu Holdings Ltd. (PET-T), Hemlo Mining Corp. (HMMC-T), Westport Fuel Systems Inc. (WPRT-T), Cipher Pharmaceuticals Inc. (CPH-T), Organigram Global Inc. (OGI-T)

Aug. 12: Maple Leaf Foods Inc. (MFI-T), Western Forest Products Inc. (WEF-T), BSR REIT (HOM-U-T), AutoCanada Inc. (ACQ-T), North American Construction Group Ltd. (NOA-T), Ascend Wellness Holdings, Inc. (AAWH-U-CN), Sagicor Financial Company Ltd. (SFC-T), HLS Therapeutics Inc. (HLS-T)

Aug. 13: Total Energy Services Inc. (TOT-T), Pollard Banknote Ltd. (PBL-T), Bird Construction Inc. (BDT-T), Automotive Properties REIT (APR-UN-T), True North Commercial REIT (TNT-UN-T), RFA Financial Inc. (RFA-T), Pro REIT (PRV-UN-T), ​​Calian Group Ltd. (CGY-T), Boston Pizza Royalties Income Fund (BPF-UN-T), Quarterhill Inc. (QTRH-T), Auxly Cannabis Group Inc. (XLY-T)

Aug. 14: Beyond Oil Ltd. (BOIL-T)

Aug. 26: Corby Spirit and Wine Ltd. (CSW-A-T), EQB Inc. (EQB-T)

Sept. 14: High Tide Inc. HITI-X

– with files from The Canadian Press and Reuters

AMD forecast quarterly revenue above Wall Street estimates on Tuesday, banking on strong demand for its chips from massive data-centre capacity expansions to power AI technologies.

Yet, its shares fell more than 7 per cent in extended trading, suggesting that investors were looking for an even stronger outlook after the stock more than doubled this year spurred on by AI optimism.

“AMD is now in a similar position to Nvidia NVDA-Q and the hyperscalers, where investors are looking for evidence that AI infrastructure investments will continue translating into accelerating returns,” said Jacob Bourne, an analyst at Emarketer.

The Santa Clara, California-based company is regarded as chip giant Nvidia’s closest rival in the market for graphics processing units, as major technology companies and governments worldwide ramp up spending on AI infrastructure.

Adv Micro Devices

518.58+304.42 (142.15%)

Year to date

Dec. 30, 2025

214.16

Aug. 4, 2026

518.58

SOURCE: BARCHART

It has stepped up its AI product launches and moved beyond selling individual chips to offering AI systems that combine processors, networking gear and related hardware, giving customers an integrated AI infrastructure option and allowing it to better rival Nvidia’s rack-scale offerings.

AMD expects third-quarter revenue of about US$13-billion, plus or minus US$300-million, while analysts estimate US$12.52-billion, according to data compiled by LSEG.

Its expects adjusted gross margin to be about 56 per cent, largely in line with estimates.

The forecast suggests that AMD’s multi-billion dollar investments to challenge chip giant Nvidia’s dominance in the market for AI chips are beginning to pay off, with sales of its data-centre processors accelerating sharply.

While GPUs dominate heavy AI training, AMD is also benefiting from growing demand for central processing units, which are used alongside pricey graphics processors in servers. This has helped AMD capture market share from Intel.

AMD’s second-quarter revenue jumped 50 per cent to US$11.54-billion, beating the estimate of US$11.28-billion. Data-centre revenue more than doubled to US$6.72-billion, also exceeding expectations of US$6.48-billion.

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Adjusted profit of US$1.66 per share surpassed the estimated US$1.62.

At AMD’s AI event in July, CEO Lisa Su said the company’s second-generation Helios AI servers, featuring the MI455X AI accelerator and “Venice” processor made by TSMC, are in full production and would begin shipping in the coming months.

Supply, however, is constrained by AMD’s reliance on TSMC , the world’s largest contract chipmaker, where tight advanced packaging capacity continues to be a key hurdle.

AMD has also secured major customers and infrastructure agreements in recent months, as it races to expand its AI business.

About two weeks ago, it agreed to sell Anthropic tens of billions of dollars worth of AI servers powered by up to two gigawatts of MI450 chips from early 2027, and invest up to US$5-billion in the IPO-bound Claude maker, contingent on deployment milestones.

The company has also locked in up to 2.5 GW of data centre capacity through a deal with Core Scientific, while gaining warrants to purchase the company’s stock.

AMD’s client and gaming segment, which caters to consumer hardware, saw sales of US$3.84-billion in the second quarter, above estimates of US$3.78-billion.

Analysts have said weakness in the PC market, memory supply constraints and rising memory costs could weigh on demand and margins

Spotify SPOT-N -1.68%decrease forecast third-quarter profit below Wall Street estimates on Tuesday, after the streaming giant reported slowing user growth in major markets of Europe and North America, driving shares nearly 4 per cent lower in premarket trading.

The company has launched AI features such as “Personal Podcasts” and new offerings such as “Reserved” to attract more users and fend off competition from rivals including YouTube and Netflix NFLX-Q +0.33%increase, and AI music startups like Udio and Suno.

Separately on Tuesday, Spotify announced a new agreement with digital music licensing firm Merlin for the Swedish company’s upcoming paid tool for fan-made covers and remixing. It will allows artists on labels under Merlin’s Spotify agreement to participate.

The company said it expects operating income of €670-million (US$770.97-million) in the third quarter, below analysts’ average estimates of €677.8-million, according to data compiled by Visible Alpha.

In the second quarter, its operating income came in at €655-million, beating estimates of €639.2-million, driven by strong revenue growth and lower payroll taxes.

Such taxes, called social charges, are tied to the value of the company’s share price. The company’s shares have fallen about 16 per cent so far this year.

Spotify Technology S.A.

478.17-102.54 (-17.66%)

Year to date

Dec. 30, 2025

580.71

Aug. 4, 2026

478.17

SOURCE: BARCHART

The company’s quarterly revenue rose 14 per cent to €4.78-billion, slightly below LSEG-compiled estimates of €4.80-billion. The revenue forecast of €5-billion for the third quarter was slightly above estimates of €4.93-billion.

Its monthly active users forecast of 788 million was below Visible Alpha estimates of 793.6 million, while its outlook for a 5 million increase in premium subscribers to 305 million was largely in line with estimates.

While total MAUs and premium subscribers grew, North America and Europe’s percentage contribution to total MAUs declined. Europe’s share of premium subscribers has also continued to drop.

Nuclear reactor vendor Westinghouse Electric Co. has confidentially filed for a U.S. initial public offering, its owners revealed on Friday, as demand for new sources of nuclear power attracts renewed interest from investors.

Westinghouse is jointly owned by Brookfield Asset Management Ltd. BEP-UN-T +0.72%increase, through its renewable energy arm, and Saskatoon-based uranium fuel provider Cameco Corp. CCO-T -2.09%decrease

The number of shares to be offered and the price range for the public listing have not yet been set, and the proposed IPO and its timing will depend on market conditions, Cameco said Friday. But the filing allows Westinghouse to prepare for a public listing and share information privately with regulators.

Nuclear energy is making a comeback as demand for electricity surges, especially to serve the rapid development of data centres that train and run artificial intelligence models.

Only eight years ago, Westinghouse was in bankruptcy when Brookfield’s private equity arm bought the company from Toshiba Corp. for US$4.6-billion.

Four years later, Brookfield’s private equity business sold Westinghouse to Cameco and Brookfield Renewable Partners LP, the company’s renewable energy arm, for US$4.5-billion plus US$3-billion in assumed debt. Brookfield kept a 51-per-cent stake, and Cameco owns 49 per cent.

Westinghouse has a decades-long track record in the nuclear sector and a head start on many of its rivals. More than half of the nuclear reactors operating around the world use its technology, according to the company.

Last year, Westinghouse and its owners reached an ambitious deal with the United States government that seeks to build eight to 10 large nuclear reactors at a cost of at least US$80-billion.

If certain milestones are met – including Westinghouse reaching a valuation of US$30-billion – Westinghouse would be compelled to hold an IPO and the U.S. government would be allowed to take an 8-per-cent stake in the company.

Chris Cassin: Nuclear reactors produce one byproduct that is key to our future. Canada must stockpile it

The pursuit of such a lofty valuation for Westinghouse is a signal of the sharp reversal in fortunes for the nuclear sector, which is seeking large amounts of capital from investors for its expansion plans.

U.S. President Donald Trump has outlined a plan to jumpstart America’s nuclear industry. And Canada has a strategy to fast-track small modular reactor construction, while also adding more large-scale reactors in the country.

Brookfield Asset Management chief executive Connor Teskey said Friday that the U.S. Department of Energy has committed up to US$17.5-billion in loans to finance the early procurement of equipment for new reactors.

The government financing “is expected to accelerate deployment timelines by up to three years,” and to attract further investment in the nuclear supply chain, Mr. Teskey said.

“Our focus has now shifted from establishing the financing framework for long-lead orders to advancing individual projects,” he said.

Westinghouse’s main offering is its AP1000 reactor. There are two of these reactors operating in the U.S. and four in China, as well as more than a dozen others under construction. But the reactors also have a track record of construction delays and cost overruns, underscoring the inherent risk in such projects.

With a report from Reuters

TransAlta Corp. TA-T -2.66%decrease reported its second-quarter profit and revenue were up compared with a year ago.

The company says its profit attributable to common shareholders amounted to $35-million or 12 cents per diluted share for the quarter ended June 30.

The result compared with a loss of $112-million or 38 cents per diluted share for the second quarter of 2025.

Revenue for the quarter totalled $487-million, up from $433-million a year earlier.

Power production totalled 4,720 gigawatt hours for the quarter, down from 4,813 GWh a year ago.

On an adjusted basis, TransAlta says it earned 18 cents per share in its latest quarter, unchanged from the same quarter last year.

Enbridge Inc. ENB-T -1.80%decrease expects its gas transmission business to play a growing role amid booming demand across North America, even as some of its customers express unease over ongoing geopolitical uncertainty.

Speaking to analysts Friday as the company reported its second-quarter earnings, executives touted a number of projects underway to expand its capacity to deliver natural gas to customers in the months ahead.

“We’re hearing from customers in all regions of our footprint, including the U.S. Northeast, Midwest and Southeast. All are looking for additional capacity to support unprecedented power and LNG demand,” said president and CEO Greg Ebel.

Enbridge received “significantly more interest” than initially expected for its proposed expansion of the Algonquin Gas Transmission system, dubbed Project Beacon, he said.

The company recently completed an open season – a process used to formally gauge commercial interest – in the U.S. Northeast for the proposed expansion.

“This is really a great example of how we’re seeing … gas demand across all of our footprint in gas transmission right now for all kinds of requirements,” said Matthew Akman, who leads Enbridge’s gas transmission business.

“Some of that is obviously power and data centres and some of it is just catch up in terms of being behind in building infrastructure. Beacon in New England is probably the best example of that, where everyone knows we’ve needed more gas pipeline capacity into there for quite a while.”

Akman called it a “promising” project that could save more than $1 billion per year for utility customers in New England.

“There’s a real recognition we found in the response to the open season of the need for that capacity, for affordability and reliability to reduce emissions from oil burning power as well, and energy costs generally,” he said.

Enbridge also signed an exclusive option to acquire the TTC Connector Pipeline, which will connect Enbridge’s Tres Palacios Gas Storage facility to Freeport LNG and is expected to enter service by the end of the year.

Meanwhile, its Blackcomb pipeline has begun commissioning and the company sanctioned the Bay Runner Twin pipeline to provide Permian natural gas supply to the Rio Grande LNG facility.

Earlier this month, Enbridge announced it had broken ground on a $4-billion natural gas pipeline expansion in British Columbia. The federal government approved the Sunrise Expansion Program in April.

The project aims to add another 300 million cubic feet per day of transportation capacity to the province’s natural gas transmission system.

“We do expect to punch above our weight in gas transmission,” said Akman.

“Some of that could be chunky, of course, because some of the projects … it’ll depend on the customer timing, but very active conversations going on and we’re optimistic that we’re going to be contributing more than our fair share over the next six to 12 months in gas transmission.”

Enbridge reported a second-quarter profit attributable to common shareholders of $1.4-billion, down from $2.18-billion a year earlier. The company said the profit amounted to 64 cents per share for the quarter ended June 30, down from $1 per share in the same quarter last year.

On an adjusted basis, Enbridge earned 63 cents per share in its latest quarter, down from an adjusted profit of 65 cents per share in the second quarter of 2025.

The company said its secured capital backlog stood at $41-billion. It has sanctioned $9-billion of new projects year-to-date and is on track to meet its targeted $10-billion to $20-billion of new project announcements over the 2026 to 2027 time frame. 

Ebel said the company is advancing projects amid a backdrop of volatility in energy markets, supply chain disruptions and uncertainty from ongoing geopolitical developments around the world.

“There’s a fair bit of a challenging backdrop for producers, refiners, exporters, and pipelines to fully commit to large-scale projects, but let’s make no mistake, that is coming because the needs are there,” he said.

“Until we get through that volatility piece, people are going to be focused on, ‘Give me customized solutions that I can utilize and I’ll deal with the bigger solutions as we go forward.’”