Bay Street Set for Weak Open as Futures Dip; Earnings Optimism May Cap Losses

Canadian stocks were poised to open lower on May 28, 2026, as S&P/TSX Composite Index futures slipped 0.3% in premarket trading. The decline was driven by overnight weakness in crude oil and metals prices, which pressured the resource-heavy index. However, a batch of stronger-than-expected quarterly earnings from major financial and energy firms offered a counterweight, preventing a sharper sell-off. The loonie was little changed at 1.35 per U.S. dollar. Traders were also monitoring U.S. data due later in the week for clues on the Federal Reserve’s next move, which could sway Bank of Canada policy expectations.