TSX Today: What to Watch for in Stocks on Friday, May 8

The Canadian stock market stayed on a rollercoaster ride on Thursday as investors reacted to volatile commodity prices, fresh corporate earnings, and ongoing geopolitical uncertainty linked to U.S.-Iran negotiations. A day after surging by 1.2%, the S&P/TSX Composite Index gave up 125 points, or 0.4%, to settle at 33,857 — marking its ninth decline in the last 11 sessions.

Despite strength in some key market sectors like technology and healthcare, weakness in mining, energy, and industrial stocks dragged down the TSX benchmark.

Top TSX Composite movers and active stocks

Nutrien (TSX:NTR) was the worst-performing TSX stock for the day, as it plunged by 7.5% to $93.29 per share. This selloff in NTR stock came after the Saskatoon-headquartered crop inputs and services firm reported its first-quarter 2026 earnings. While the company posted a sharp year-over-year (YoY) increase in its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) and record potash sales volumes, investors appeared concerned about its weak bottom-line profitability, higher share-based compensation expenses, and continued pressure in its phosphate business.

Notably, Nutrien’s net earnings came in at just US$139 million, despite revenue jumping 19% YoY to US$6 billion. Nevertheless, Nutrien reaffirmed its full-year guidance, citing strong fertilizer demand, tightening global supply conditions, and healthy demand for crop inputs across key markets. The recent selloff trimmed NTR stock’s year-to-date gains to around 10%.

Celestica, Element Fleet Management, and Sprott were also among the day’s bottom performers on the Toronto Stock Exchange as they slipped by at least 6.3% each.

On the brighter side, shares of B2Gold (TSX:BTO) climbed 11% to $6.76 per share after the gold miner reported stronger-than-expected first-quarter results. Its total gold production came in at 237,763 ounces, as all of its operations exceeded expectations, helping the company post lower-than-expected costs and robust free cash flow of US$362 million.

Maple Leaf Foods, Kinaxis, and Endeavour Silver also surged by at least 9% each, making them among the session’s top-performing TSX stocks.

Based on their daily trade volume, B2Gold, Enbridge, Canadian Natural Resources, Whitecap Resources, and Suncor Energy were the five most active stocks on the exchange.

TSX today

Crude oil prices trended lower in early morning trading on Friday, while metals prices across the board climbed higher. Given this backdrop, the resource-heavy TSX index could see slightly positive trading at the open today as gains in mining stocks may help offset continued weakness in the energy sector.

Canadian investors will also monitor fresh developments around the Strait of Hormuz after the U.S. said it intercepted Iranian attacks on three naval ships and responded with strikes on military facilities linked to those attacks. Although U.S. President Donald Trump said the ceasefire remains in effect, his warning of stronger action if Iran does not sign a deal soon could keep energy markets on edge.

More importantly, jobs reports from both sides of the border are scheduled to be released this morning, which could help TSX investors set their expectations around future interest rate decisions and broader economic growth trends.

On the corporate events side, some TSX-listed companies like Orla Mining, NGEx Minerals, Enbridge, Algonquin Power & Utilities, Emera, Brookfield Business, and Brookfield Asset Management will announce their latest quarterly results today.

Market movers on the TSX today

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  The post TSX Today: What to Watch for in Stocks on Friday, May 8 appeared first on The Motley Fool Canada.

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  More reading

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  Fool contributor Jitendra Parashar has positions in Canadian Natural Resources, Celestica, Enbridge, and Kinaxis. The Motley Fool recommends B2Gold, Brookfield Asset Management, Canadian Natural Resources, Celestica, Emera, Enbridge, Kinaxis, Nutrien, and Whitecap Resources. The Motley Fool has a disclosure policy.