TSX Today: What to Watch for in Stocks on Friday, May 22

Canadian stocks continued to climb on Thursday, marking a second consecutive day of gains as Treasury yields pulled back from near two-year highs. Investors were also encouraged by signs that the U.S. and Iran may be making progress toward a peace agreement, helping ease concerns about prolonged supply disruptions. These factors drove the S&P/TSX Composite Index up by another 248 points, or 0.7%, to close at 34,410, extending the benchmark’s weekly gains to 1.7% as improving risk appetite supported broad-based buying across sectors.

While all key TSX sectors ended the day in the green, the market rally was mainly led by consumer cyclical, financial, and utility stocks as easing bond yields reduced pressure on interest rate-sensitive areas.

Top TSX Composite movers and active stocks

BlackBerry, Energy Fuels, TerraVest Industries, and Lithium Americas were the top-performing TSX stocks for the day, as they surged by at least 5.5% each.

However, shares of Lightspeed Commerce (TSX:LSPD) plunged by 6.6% to $11.53 apiece, after it posted a wider-than-expected cash outflow for the fourth quarter of its fiscal 2026 (ended in March) and issued a fiscal 2027 outlook that appeared to disappoint investors despite solid revenue growth.

While the Montreal-based commerce software firm posted a 15% year-over-year rise in its quarterly revenue to US$290.8 million and continued to see strong momentum in its key retail and hospitality segments, its adjusted profit slipped to US$11.5 million from US$15 million a year ago. Lightspeed’s latest adjusted net profit figure also missed Street analysts’ expectations of US$16.3 million, hurting investor sentiment. So far in 2026, LSPD stock has seen over 30% value erosion.

goeasy, Strathcona Resources, and Perpetua Resources also slid by at least 2.6% each, making them among the day’s bottom performers on the Toronto Stock Exchange.

Based on their daily trade volume, Canadian Natural Resources, Enbridge, Suncor Energy, Manulife Financial, and Telus were the five most active stocks on the exchange.

TSX today

Crude oil and metals prices remained largely muted in early morning trading on Friday, pointing to a relatively flat opening for the resource-heavy TSX benchmark today.

On the economic releases front, Canada’s retail sales figures and U.S. consumer sentiment will remain on TSX investors’ radar this morning.

Meanwhile, Canadian investors may also keep an eye on fresh developments in the U.S.-Iran peace talks after U.S. Secretary of State Marco Rubio said there has been “some slight progress” toward a deal, although he cautioned against overstating the progress. Given the TSX’s heavy exposure to energy producers, any sudden shifts in oil supply expectations or renewed tensions in the Middle East could continue to drive volatility in Canadian energy stocks.

Market movers on the TSX today

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  The post TSX Today: What to Watch for in Stocks on Friday, May 22 appeared first on The Motley Fool Canada.

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  More reading

  • Lightspeed Stock Just Quietly Made One of Its Biggest Moves in Years
  • TFSA Investors: 1 TSX Stock I’d Load Up on in 2026
  • Some of the Most Compelling Tech Stocks to Consider Buying in 2026
  • Shopify Just Moved: 2 Canadian Tech Stocks to Buy Next

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