TSX Today: What to Watch for in Stocks on Friday, April 5

Key labour market data from Canada and the United States will remain on TSX investors’ radar today.

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tsx today

Canadian stocks traded on a negative note on Thursday as a downside correction in commodity prices and soaring treasury bond yields weighed on investors’ sentiments. Even as the S&P/TSX Composite Index touched a fresh record high of 22,239 in intraday trading, it ended the highly volatile session 61 points, or 0.3%, lower from its previous closing at 22,052.

The TSX benchmark dropped during the day as most key market sectors went down, with healthcare, consumer noncyclical, and mining stocks leading the selloff.

Top TSX Composite movers and active stocks

NovaGold Resources, Lightspeed Commerce, Tilray, and NexGen Energy were the worst-performing TSX stocks for the day as they plunged by at least 5% each.

On the flip side, shares of Dollarama (TSX:DOL) jumped by 10% to $110.37 per share after the company announced its stronger-than-expected quarterly results. In the quarter ended in January 2024, the Mont Royal-headquartered discount retailer’s revenue rose 11.3% year over year to $1.6 billion, with sales increases across all its product categories.

More importantly, lower logistics and inbound shipping costs drove Dollarama’s adjusted quarterly earnings up by 26.4% from a year ago to $1.15 per share, beating Street analysts’ expectations of $1.06 per share. After the recent rally, DOL stock is now up 15.6% on a year-to-date basis.

Lundin Mining, Bombardier, and Ivanhoe Mines were also among the top-performing TSX stocks as they inched up by at least 3.2% each.

Based on their daily trade volume, TD Bank, Canadian Natural Resources, Tilray, B2Gold, and TC Energy were the five most active stocks on the exchange.

TSX today

Commodity prices were largely mixed early Friday morning, pointing to a flat open for the resource-heavy main TSX index today.

Besides Canada’s unemployment rate and employment change data, TSX investors will also closely monitor average hourly earnings, non-farm payrolls, and unemployment rate numbers from the United States this morning, which could give further direction to stocks. Overall, the TSX index seems on track to end its seven-week winning streak as it has slipped 0.5% week to date.

Market movers on the TSX today

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 B2Gold, Canadian Natural Resources, Lightspeed Commerce, and Tilray Brands. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

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