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TSX Rebounds as Oil Climbs and Canada’s Jobs Data Lands

  Friday, May 8, 2026  ·  Canadian Money Brief  ·  moneysavings.ca TSX Opens Higher After Thursday Dip Canadian stocks are staging a recovery Friday morning, with the S&P/TSX Composite climbing back after a rough Thursday. The index shed 0.4% to close at 33,857 as investors locked in recent gains ahead of U.S. and Canadian jobs data due Friday — with energy shares dragging it lower as oil pulled back. As of Friday morning, the TSX had recovered to around 33,932, up roughly 1.1% , following positive cues from Wall Street futures. Oil Back in Focus: Geopolitics Drive WTI Toward $96 WTI crude futures climbed toward $96 per barrel on Friday , recouping some of the week’s losses as fresh clashes between the U.S. and Iran threatened to derail diplomatic efforts to end the conflict. U.S. Central Command confirmed American forces intercepted Iranian attacks and carried out defensive strikes, while guided missile destroyers passed through the Strait of Ho...
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Nasdaq Lags as Markets Take a Breather


In today’s trading session, US stocks reversed gains late in the day, signaling a pause in the record-setting run that has characterized Wall Street during the first quarter of 2024. Here are the key highlights:

  1. Nasdaq Composite: The tech-heavy Nasdaq Composite, which had been on track for a record close, dipped approximately 0.4% as the session concluded. Tech stocks faced headwinds, contributing to the overall decline.

  2. S&P 500: The broader S&P 500 index also retreated, falling nearly 0.3%. Investors closely monitored economic data releases, including durable goods orders and the S&P CoreLogic Case-Shiller National Home Price Index.

  3. Durable Goods Orders: In February, durable goods orders rebounded by 1.4%, driven by increases in transportation equipment and machinery orders. This positive data reflects economic resilience.

  4. Home Price Index: The S&P CoreLogic Case-Shiller National Home Price Index rose 6% in January compared to the previous year, marking the highest annual increase since 2022.

  5. Consumer Confidence: The Conference Board’s Consumer Confidence Index remained relatively stable at 104.7 for March. However, the “Expectations Index,” which gauges consumers’ short-term outlook, dipped to 73.8, potentially signaling a future economic downturn.

  6. Upcoming Event: All eyes are on Friday’s release of the Personal Consumption Expenditures Price Index (PCE), a crucial indicator of inflation. Investors eagerly await insights into “core” PCE growth, which the Federal Reserve closely monitors.

  7. Trump Media & Technology Group Corp.: Former President Donald Trump’s social media company made its Wall Street debut after merging with Digital World Acquisition Corp. Shares of Trump Media & Technology Group Corp. (DJT) surged, finishing the day up 16%.

As the week progresses, keep an eye on economic indicators and corporate developments. The stock market remains dynamic, and investors should stay informed to navigate these fluctuations effectively. 

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