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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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Escalation in South Asia: India Strikes Pakistan Over Kashmir Attack, Islamabad Vows Retaliation

In a dramatic escalation of tensions between two nuclear-armed neighbors, India launched missile strikes on Pakistan early Wednesday, targeting what it described as terrorist infrastructure in response to a deadly attack on Hindu tourists in Indian-administered Kashmir last month. The attack, which claimed 26 lives, has been blamed on Pakistan-based militant groups, though Islamabad denies involvement.

Pakistan has condemned the strikes as a “blatant act of war”, reporting that at least 26 people were killed and 46 injured in the Indian assault. Pakistani officials claim that civilian sites, including mosques, were among the targets, contradicting India's assertion that it exercised “considerable restraint” in selecting its targets. 

The situation has sparked international concern, with UN Secretary-General António Guterres urging both nations to exercise military restraint. Meanwhile, Pakistan has vowed to retaliate, stating that it reserves the right to respond at a time and place of its choosing. 

With both sides exchanging heavy artillery fire across the contested Kashmir region, fears of a broader conflict loom large. The world watches anxiously as diplomatic efforts attempt to de-escalate the crisis. 


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