Despite a tech sector selloff, Canadian stocks continued to trend higher for a second consecutive session on Friday as easing Treasury bond yields and surging crude oil prices provided support to the commodity-heavy market. The S&P/TSX Composite Index advanced by another 39 points to 36,177, reaching its highest closing level in more than three weeks.
Even as weakness in tech and healthcare stocks pressured the TSX benchmark, strong intraday gains in other key sectors like energy, utilities, and consumer staples helped the index maintain its upward momentum.
Top TSX Composite movers and active stocks
As crude prices jumped to their highest level in over a month, energy stocks like Strathcona Resources, International Petroleum, Vermilion Energy, and Pembina Pipeline climbed by at least 2.5% each, making them the session’s top-performing TSX stocks.
In contrast, BlackBerry, Curaleaf, Shopify, and Sprott slipped by at least 4.8% each, making them the day’s worst-performing TSX stocks.
Shares of Air Canada (TSX: AC) also slipped more than 2% to $21.99 per share even as the Montreal-based airline announced plans to expand its Canada-U.S. flight network for summer 2027 in partnership with United Airlines. As part of the expansion, the Canadian flag carrier will introduce new non-stop routes connecting Toronto with Louisville, Montreal with Indianapolis, and Edmonton with Newark.
In addition, Air Canada plans to increase capacity on its Edmonton-San Francisco route, while United Airlines will add new services connecting several Canadian cities with U.S. destinations. The two airlines also agreed to renew and expand their transborder joint business agreement, subject to regulatory approval. Despite these network expansion plans and efforts to strengthen its U.S. connectivity, AC stock remained under selling pressure due mainly to an intraday selloff in growth stocks.
Based on their daily trade volume, Enbridge, BlackBerry, Athabasca Oil, TD Bank, and Whitecap Resources were the five most active stocks on the Toronto Stock Exchange.
TSX today
Commodity prices were largely mixed in early trading on Monday, pointing to a flat open for the main TSX index today.
Canadian investors may want to keep an eye on the latest domestic consumer inflation report this morning, which could provide fresh clues about inflationary pressures and the Bank of Canada’s future interest rate decisions.
Meanwhile, markets will also closely monitor developments in the Middle East after Iran reiterated its willingness to reopen the Strait of Hormuz if Washington accepts its proposed ceasefire conditions. However, continued attacks on commercial vessels and escalating tensions between Saudi Arabia and Yemen’s Houthi rebels have kept uncertainty surrounding global energy supplies elevated.
On the domestic front, TSX investors will assess the potential economic implications of Alberta’s referendum vote today, amid ongoing trade tensions between Canada and the United States.
Given these factors, commodity price movements, geopolitical developments, and inflation data could determine whether the TSX extends its two-session winning streak.
Market movers on the TSX today
