Equities in Canada’s largest centre opened ?lower on Friday, dragged down by losses in materials and energy sectors, while investors assessed signs of diplomatic progress in the Middle East ?after Iranian state media reported Tehran had submitted ?a new negotiation proposal for talks ?with Washington.
The TSX Composite Index dropped 36.64 points, to begin the week’s last session -- and May’s first -- at 33,927.69. On the week so far, the index has gained 23 points.
The Canadian dollar plowed ahead 0.14 cents at 73.77 cents U.S.
Air Canada ?suspended its 2026 forecast, as higher jet fuel prices due to the war in Iran created uncertainty over costs, even as travel demand remained robust.
Shares in “The Maple Leaf airline” dipped nine cents to $18.56.
?Magna International's first-quarter sales and adjusted ?profit beat estimates, helped by currency gains. The auto parts maker shed $5.59 at the start of business Friday, or 5.8%, to $81.82.
On the economic slate, the S&P Global Canada Manufacturing PMI rose to 53.3 in April 2026 from 50.0 in March, marking the strongest improvement in business conditions since June 2022.
ON BAYSTREET
The TSX Venture Exchange inched up 1.36 points, to 996.23. On the week so far, the exchanged has lost 14 points, or 1.5%.
Eight of the 12 TSX subgroups lost ground in the first hour, weighed most by consumer discretionary stocks, down 1.6%, while health-care doffed 1.2%, and energy stock were 1.1% less energetic.
The four gainers were led by information technology, up 1.4%, real-estate, taking on 0.5%, and industrial, up 0.3%.
ON WALLSTREET
The S&P 500 rose on Friday, boosted by Apple shares, while oil prices fell as a new month of trading got underway.
The Dow Jones Industrials index gained 325.37 points to 49,977.47.
The much broader index reached up 59.12 points to 7,268.13.
The tech-driven NASDAQ powered ahead 273.14 points, or 1.1%, to 25,165.45.
Shares of Apple climbed more than 4% after the consumer tech giant posted a fiscal second-quarter earnings and revenue beat. Not only that, the company’s revenue outlook for the current quarter was better than expected, overshadowing the fact that iPhone revenue fell short of estimates for the second time in three quarters.
On the flip side, oil prices fell after Iran reportedly sent its response through Pakistani mediators to the latest U.S. amendments to a draft agreement to end the Middle East conflict.
U.S. West Texas Intermediate crude futures fell about 3% to trade around $102 a barrel. International benchmark Brent crude futures slid 1% to above $108 a barrel.
The moves come after a record-setting trading session, with the S&P 500 closing above the 7,200 threshold for the first time ever. That helped both the S&P 500 and NASDAQ — which also notched a new record closing high — secure their strongest monthly performances since 2020. The Dow, meanwhile, saw its strongest monthly performance since November 2024.
Prices for the 10-year Treasury gained ground, lowering yields to 4.37% from Thursday’s 4.39%. Treasury prices and yields move in opposite directions.
Oil prices retreated $3.12 to $101.95 U.S. a barrel.
Gold prices slid $11.10 to $4,618.50 U.S. an ounce.
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