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TSX Edges Lower as Markets Brace for Bank of Canada Decision and Federal Budget Day

Tuesday, April 28, 2026 | moneysavings.ca/canadian-money-brief Canadian markets are navigating a high-stakes Tuesday with two major macro events dominating the conversation: Finance Minister François-Philippe Champagne's Spring Economic Update — tabled in Parliament today — and tomorrow's eagerly anticipated Bank of Canada rate decision. TSX Pulls Back Monday, Eyes Mixed Open Tuesday The S&P/TSX Composite Index closed Monday at 33,818 points , slipping 0.25% as stalled U.S.–Iran peace talks cooled risk appetite heading into one of the busiest weeks on the Canadian financial calendar. The index remains up nearly 6% over the past month, reflecting the broader resilience of Canadian equities against a backdrop of global uncertainty. Banking stocks traded in split fashion. BMO and TD each added 0.4% , while Brookfield Asset Management shed 1.7% and Fairfax Financial dropped 2.6% ahead of its earnings release. Shopify fell 1.4% as investors waited on a slate of major ...
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Stock Market Today: S&P 500 and Nasdaq Surge as Tesla Leads Earnings Rally

 

In today’s stock market, the S&P 500 and Nasdaq Composite made significant gains, fueled by a fresh wave of earnings reports. Here are the highlights:

  1. S&P 500 Rebounds: The benchmark S&P 500 (^GSPC) rose more than 1% after staging a comeback from a six-day run of losses in the previous session. Investors are optimistic about tech-focused companies’ earnings, which could help pull stocks out of the slump they’ve faced since the start of the year.

  2. Tesla’s Impact: Tesla (TSLA), often referred to as one of the “Magnificent Seven,” is in the spotlight. The electric vehicle (EV) maker’s earnings report is highly anticipated, given its weight in the S&P 500 index. Tesla’s shares have faced headwinds due to a disappointing delivery outlook, the cancellation of plans for a sub-$30,000 model, and a shift in strategy toward robotaxis. As the first major tech company to report this week, Tesla’s results set the stage for other giants like Meta (formerly Facebook), Microsoft, and Alphabet.

  3. Other Earnings: Legacy automaker General Motors (GM) kicked off earnings season with strong first-quarter results and an upward revision to its full-year guidance. GM’s shares rose around 5%. Meanwhile, Spotify (SPOT) stock jumped after the audio streaming company swung to a profit, beating expectations.

  4. Market Bottom? Fundstrat’s head of research, Tom Lee, suggests that US stocks may be near a market bottom. Elevated inflation expectations and hedge fund short interest surging to 2022 levels are among the signs. Lee points to technical levels for the S&P 500 to watch: 5019.02 (a positive sign if surpassed) and 4953.56 (a potential setup for a buy signal).

Overall, today’s market performance reflects optimism driven by earnings reports and the anticipation of tech giants’ results. Keep an eye on Tesla and other major players as they continue to shape market sentiment.


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