Statistics Canada reports a 7.6% drop in return trips from the U.S. by Canadian residents in March, with automobile trips decreasing 4.5% and air travel plummeting 13.8%. The decline follows President Trump's tariff implementation. In contrast, Canadian return trips from overseas countries by air increased 4.9%, marking the third consecutive month more Canadians returned from overseas than from the U.S. by auto.

AutoCanada continues exiting the U.S. market, selling a Hyundai dealership in Lincolnwood, Illinois for C$3.3 million. The automobile dealership group has now realized C$65.8 million in gross proceeds from U.S. asset sales. The company maintains its expectation of total proceeds between C$115 million to C$130 million from divesting all U.S. dealerships, focusing resources on its Canadian operations.

Geopolitical tensions in the Strait of Hormuz are impacting markets, with oil prices climbing. Energy stocks including Chevron, ConocoPhillips and Diamondback Energy rise 2-3% premarket. Meanwhile, airline stocks retreat, with Delta Air Lines down 2% and United Airlines falling 3%. Cruise operators also face pressure, as Royal Caribbean and Carnival drop 3% and 4% respectively.