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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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Kremlin and Trump: Navigating Ukraine Peace Talks Amid Tensions

The Kremlin has announced ongoing efforts to collaborate with the United States on a potential peace settlement in Ukraine, despite recent tensions sparked by U.S. President Donald Trump's remarks about Russian President Vladimir Putin. Trump expressed frustration after Putin criticized Ukrainian President Volodymyr Zelensky's credibility, suggesting secondary tariffs on Russian oil buyers as a potential consequence.

Kremlin spokesperson Dmitry Peskov emphasized that Moscow remains committed to working with Washington to rebuild bilateral relations and explore ideas for resolving the Ukrainian conflict. While progress is reportedly being made, Peskov acknowledged the complexity of the process and the absence of concrete details at this stage.

Trump, who has positioned himself as a peacemaker, reiterated his desire to end the three-year conflict in Ukraine, warning of the risks of escalation into a global confrontation. Despite his disappointment with Putin, Trump expressed optimism about gradual progress in the negotiations.

The situation underscores the delicate balance of diplomacy required to address the ongoing crisis, with both leaders navigating their respective frustrations and aspirations for peace.

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