TSX Today: What to Watch for in Stocks on Monday, April 4

Minor strength in commodity prices could help commodity-linked stocks on the TSX open slightly higher today.

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TSX Today

Canadian stocks started April on a slightly positive note, as investors continued to monitor the latest updates about the Russia-Ukraine crisis and its potential impact on the global economy. The TSX Composite Index ended the session with a 63-point, or 0.3%, gain at 21,953 after posting solid 3.6% gains in March. Apart from the ongoing strength in commodity-linked stocks on the TSX, sectors like technology and utilities also showcased strength on Friday.

In contrast, the shares from the industrials sector traded on a negative note, as much weaker-than-expected manufacturing PMI data from the United States hurt investors’ sentiments.

Top TSX movers and active stock

The Waterloo-based software company BlackBerry’s (TSX:BB)(NYSE:BB) share prices fell by 9.2% on March 1 to $8.42 per share — a day after the company announced its Q4 results. BlackBerry’s total revenue for the February quarter missed analysts’ estimates by about 1%, with seemingly hurt investors’ sentiments. Nonetheless, it reported a surprise adjusted net profit of US$6 million for the quarter against analysts’ expectations of about US$29.3 million in losses.

Aritzia, TFI International, Canadian Pacific Railway, and Canfor were also among the worst-performing Canadian stocks, as they lost nearly 5% each in the last session.

On the positive side, shares of companies like Peyto Exploration & Development, Ero Copper, Sandstorm Gold, and OceanaGold inched up by at least 5% each, making them the top-performing TSX Composite components on Friday.

Based on their daily trade volume, Bank of Nova Scotia, TC Energy, TD Bank, and Canadian Natural Resources were the most traded stocks on the exchange in the last session.

TSX today

Early Monday morning, commodity prices across the board were showcasing minor recovery from their Friday’s closing, which should help metals mining and energy stocks on the TSX to rise at the open today.

While no key economic releases are due today, investors may continue to digest recently released, worse-than-expected non-farm payrolls and manufacturing numbers from the U.S. market. Also, Canadian investors may want to keep a close eye on an important update related to the Russia-Ukraine negotiations.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

The Motley Fool recommends ARITZIA INC, BANK OF NOVA SCOTIA, and CDN NATURAL RES. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

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