Friday, May 1, 2026 | Canadian Money Brief | moneysavings.ca
TSX Posts Strong Close to April
Canada's main stock index finished April on a high note. The S&P/TSX Composite Index gained 645.94 points, or 1.9%, to close Thursday at 33,964.33. That capped a positive month for the index, with consumer, health-care, and discretionary sectors all contributing to the advance.
The Canadian dollar recovered 0.47 cents to 73.62 cents U.S.
Bombardier Steals the Show
The session's headline mover was Bombardier. Bombardier jumped $48.59, or 20.4%, to close at $288.40 — the top of the main index — after the business jet maker beat estimates for first-quarter profit, helped by robust demand for its repair and maintenance services.
On the broader earnings front, Bausch Health edged up 12 cents, or 1.7%, to $7.79, after the pharmaceutical firm's first-quarter results also beat estimates.
Among notable decliners, Allied Properties REIT fell 26 cents, or 2.6%, to $9.84 after the urban workspace landlord's first-quarter rental revenue fell on non-renewals.
Broader Sector Gains
Consumer and retail names also had a strong day. Gildan Activewear climbed $7.33, or 9.5%, to $84.30, while Linamar rose $6.95, or 8.3%, to $90.89.
In consumer staples, Alimentation Couche-Tard rocketed $4.55, or 6%, to $80.36.
Canadian Economy: GDP and Payrolls
The session also digested fresh economic data from Statistics Canada. February gross domestic product rose 0.2%, up for a fourth consecutive month. However, the labour market showed some softening: payroll employment decreased by 60,200 (–0.3%) in February, following an increase of 44,300 (+0.2%) in January.
The Bank of Canada held its policy rate at 2.25% at its most recent meeting, maintaining a wait-and-see approach amid ongoing U.S.-Iran tensions that continue to stoke inflationary fears. The U.S. Federal Reserve similarly held steady, keeping its benchmark rate in the 3.5%–3.75% range, citing the spike in oil prices and heightened economic uncertainty from the Iran conflict.
Oil: A Double-Edged Sword
Crude oil remains a central driver of Canadian market sentiment. Oil held its second weekly gain as U.S. President Donald Trump said he was sticking with a naval blockade of Iranian ports, elevating concerns the Strait of Hormuz would not reopen anytime soon. Brent for July rose above $111 a barrel, while West Texas Intermediate was near $105 — up 12% this week.
Rising oil is a net positive for Canada's energy-heavy index, but it also complicates the inflation outlook and puts pressure on consumer spending and global supply chains.
Wall Street Context
U.S. markets closed at record highs on Thursday, providing a constructive backdrop heading into May. The S&P 500 rose 1.02% to close at 7,209.01, its first close above the 7,200 threshold. The tech-heavy Nasdaq jumped 0.89% to 24,892.31, hitting new intraday and closing records. The Dow Jones Industrial Average added 790.33 points, or 1.62%, to settle at 49,652.14.
On Friday morning, S&P 500 futures were relatively unchanged, while Dow Jones futures rose, boosted by Apple shares after the consumer tech giant posted a fiscal second-quarter earnings and revenue beat.
This article is for informational purposes only and does not constitute financial or investment advice. Please consult a qualified advisor before making investment decisions.
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