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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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Alberta Minister Peter Guthrie Resigns Amidst Procurement Concerns

 

In a surprising turn of events, Alberta Infrastructure Minister Peter Guthrie has resigned from his cabinet position, citing a lack of confidence in the government's procurement practices. Guthrie, who represents the United Conservative Party (UCP) as the MLA for Airdrie-Cochrane, announced his resignation on social media, expressing his concerns over inconsistencies in procurement processes across all government departments.

Guthrie's resignation comes amidst ongoing allegations of high-level interference and favoritism in multimillion-dollar health contracts within Alberta Health Services (AHS). He had previously pushed for the establishment of a Financial Oversight Committee to review major government contracts, a proposal that was not supported by the majority of the cabinet.

Premier Danielle Smith acknowledged Guthrie's resignation and reiterated the seriousness of the allegations surrounding AHS contracts. Smith emphasized that she was not involved in the procurement decisions and has directed senior civil service to retain an independent third party to investigate the matter.

Guthrie's departure has raised questions about internal divisions within the UCP government as it prepares to unveil its fiscal plan and key legislation. Despite his resignation, Guthrie intends to remain in the UCP caucus as a private member, where he plans to continue advocating for accountability and transparency in government practices.



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