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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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Israel on High Alert: Increased Threat from Syria Despite Rebel Leaders' Moderate Tone


Despite the moderate tone adopted by the new Syrian rebel leaders, Israel continues to perceive an increased threat from Syria. Israeli Defence Minister Israel Katz emphasized that the immediate risks to the country have not diminished, and recent developments in Syria have only heightened the threat.

Ahmad al-Sharaa, the de facto leader of Syria and head of the Islamist Hayat Tahrir al-Sham (HTS) group, stated that Israel was using false pretexts to justify its attacks on Syria. However, he also expressed a desire to avoid new conflicts, focusing instead on rebuilding the war-torn nation.

In response to the perceived threats, Israel has moved into a demilitarized zone inside Syria, including the Syrian side of the strategic Mount Hermon. The Israeli Defence Forces have also conducted numerous strikes on Syria's strategic weapons stockpiles to prevent them from falling into the hands of rebel groups.

Several Arab countries, including Saudi Arabia, the UAE, and Jordan, have condemned Israel's actions, calling for diplomatic solutions to ensure regional stability.

As Syria focuses on reconstruction and stability, Israel remains vigilant, maintaining its military presence in the region to safeguard its borders.


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