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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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Putin's Cautious Approach to Ukraine Peace Talks

Russian President Vladimir Putin has expressed openness to resolving the ongoing conflict in Ukraine through diplomatic means. Kremlin spokesperson Dmitry Peskov emphasized that while Putin is willing to engage in peace talks, the complexity of the situation makes rapid progress challenging. The Kremlin has highlighted the importance of addressing the root causes of the conflict, which stem from historical tensions and geopolitical disputes.

Despite calls from the United States for swift action, Moscow has reiterated its preference for a measured approach to ensure lasting peace. Putin has also signaled readiness for direct talks with Ukraine, though Kyiv has yet to respond. The situation remains delicate, with both sides needing to navigate a web of political and military considerations to reach a resolution.

This cautious stance underscores the intricate dynamics at play in one of Europe's most significant conflicts in recent history. The world watches as efforts to bridge divides continue.

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