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Markets Brief: Iran Deal Hopes Drive Global Rally — TSX Eyes a Strong Open | May 29, 2026

It's been a week dominated by one headline: the U.S.-Iran war and the fragile hopes of a peace deal. Heading into the long weekend, markets are ending Friday on an optimistic note, with record-setting sessions in Asia and a strong tone across North America. Here's your full wrap. Canada — TSX After a rough patch mid-week, the TSX bounced back Thursday — its first gain since Monday's record close — finishing up around 0.7% to the 34,770s range, driven largely by a blockbuster round of Big Six bank earnings. All six of Canada's largest banks beat analysts' estimates for Q2 (quarter ended April 30), raising dividends and signalling cautious optimism despite the volatile global backdrop. RBC posted a standout quarter, with its Wealth Management division up 28% year-over-year. TD Bank earned $4.25 billion in adjusted net income ($2.38/share), topping expectations, and raised its dividend. CIBC's profit surged 43%, with adjusted EPS of $2.76 beating consensus by a wid...
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Canada Post Strike Enters Fourth Week Amid Rising Tensions


As the Canada Post strike approaches its four-week mark, tensions between the Crown corporation and the Canadian Union of Postal Workers (CUPW) continue to escalate. The ongoing strike, which began on November 15, 2024, has left millions of deliveries at a standstill, impacting businesses and consumers alike.

The union and management have been trading accusations of bad-faith bargaining. The CUPW criticized Canada Post's latest offers, stating that they do not address key issues such as wage increases, job security, and working conditions. In response, Canada Post claimed that the union's proposals have widened the gap between the two parties, introducing new demands that complicate negotiations.

With federal mediation on hold and no end in sight, the business community has called for government intervention. However, Prime Minister Justin Trudeau has so far resisted stepping in, urging both sides to reach an agreement.

As the strike drags on, small businesses, especially retailers relying on parcel deliveries during the holiday season, are feeling the brunt of the disruption. The CUPW has also filed an unfair labour practice complaint over layoffs of striking workers, adding another layer of contention.

The future of negotiations remains uncertain, with both parties standing firm on their positions. The impact on the economy and public services continues to grow, leaving many to wonder when a resolution will be reached.




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