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Oil Swings, Records Fall, and Bank Earnings Roll In: Markets Update — May 28, 2026

  Thursday is shaping up to be an eventful one for markets. A sharp rebound in oil prices — triggered by fresh U.S. military strikes in Iran overnight — is rattling futures this morning, even as Wall Street closed at fresh records on Wednesday. Here in Canada, the TSX pulled back sharply, weighed down by energy-sector volatility and mixed signals from the big banks. Traders are also keeping a close eye on two major U.S. data releases due today: April PCE inflation and the Q1 GDP second estimate. Canada The TSX had a rough Wednesday. The S&P/TSX Composite shed 241.82 points — roughly 0.70% — to close at 34,412.05, as energy stocks were dragged lower by falling crude prices. The loonie dipped slightly as well, with the Canadian dollar trading at 72.29 cents U.S., compared with 72.40 cents the day before. It's a big week for Canadian bank earnings, and results so far have been mixed but largely solid. Bank of Nova Scotia and BMO Financial Group both reported stronger second-quar...
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Cancer-Causing Chemical Detected in Acne Treatments: Brands Under Scrutiny

 


In a recent alarming discovery, independent U.S. laboratory Valisure has detected high levels of the cancer-causing chemical benzene in certain acne treatments. Brands affected include:

  1. Clinique (Estee Lauder)
  2. Clearasil (Reckitt Benckiser-owned)
  3. Proactiv
  4. Target Corp.'s Up & Up
  5. PanOxyl
  6. Walgreens’ acne soap bar
  7. Walmart’s Equate Beauty acne cream

Benzene, a known carcinogen, was found not only in the acne products themselves but also in the air around incubated products, suggesting a potential inhalation risk. Valisure has filed a petition with the U.S. Food and Drug Administration (FDA) urging product recalls, investigations, and revised industry guidance. The situation is substantially different from previous cases where benzene impurities came from contaminated ingredients. Here, benzene originates directly from the benzoyl peroxide itself, forming at unacceptably high levels.

Consumers are advised to stay informed as regulatory responses unfold. The FDA’s reaction to Valisure’s petition remains pending. Companies implicated in this issue, including Estee Lauder, have yet to respond to media inquiries.

As we await further developments, it’s crucial to prioritize safety and informed choices when it comes to skincare products. 









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