The Best Stocks to Buy With $10,000 Right Now

The S&P/TSX Composite Index had a strong start to the month, hitting new all-time highs. However, the impact of the shock in global stock markets resulting from Israel’s conflict with Iran has started to show. As of this writing, the benchmark index for the Canadian stock market has dipped by 4.22% from its March 2, 2026, level.

The downturn in the index shows that stocks across the board are feeling the impact of the sell-off. However, it is important to know how to use the situation to your advantage as an investor. At the end of the day, the ongoing crisis in the Middle East is another factor impacting global markets. As an investor, it is still possible to invest in the stock market to continue generating returns and setting up your portfolio for long-term success.

Given their solid underlying businesses, healthy growth prospects, and attractive valuations, I will discuss two TSX stocks that you can consider adding to your self-directed investment portfolio today.

Waste Connections

Waste Connections (TSX:WCN) is a $59.65 billion market capitalization integrated solid waste services company. The prospect of investing in a company that provides collection, transfer, and disposal services for non-hazardous waste might not seem all that exciting. However, the company provides an essential service for companies across Canada and the United States. The company also provides non-hazardous oilfield waste treatment, recovery, and disposal services, which make it essential to the increasingly important Canadian energy industry.

The company has expanded significantly over the years through organic growth and strategic acquisitions. It is also building its renewable natural gas portfolio to further diversify its revenue streams, and it is continuing to consolidate the largely fragmented waste disposal industry. The company’s investments in AI-driven solutions to improve productivity and efficiency will also likely contribute to its continued growth through the years.

As of this writing, WCN stock trades for $231.20 per share and pays investors US$0.35 per share each quarter, translating to a 0.83% dividend yield.

Northland Power

Northland Power (TSX:NPI) is a $5.56 billion market-cap global power producer based in Canada. The company has been around for four decades, and has been developing and operating a diversified mix of energy infrastructure assets that cover everything from wind, solar, battery energy storage, to natural gas. The company also provides energy to consumers through a regulated utility business under its belt.

Northland Power owns or has financial interests in around 3.5 gigawatts (GW) of gross energy-generation capacity through its portfolio. The company has a pipeline of projects that will eventually see its potential capacity grow to nine GW. As of this writing, Northland Power stock trades for $21.25 per share, and it pays investors $0.06 per month per share, translating to a 3.39% annualized dividend yield that you can lock into your self-directed portfolio today.

Foolish takeaway

Waste Connections keeps expanding through acquisitions to consolidate the industry, cementing itself in a top position in this sector. Northland Power has plans to significantly increase its capacity. In turn, it is setting itself up for a brighter future in the coming years.

Despite the recent pressure on the stock market and economies worldwide, these two TSX stocks look well-positioned to deliver substantial long-term returns to investors. While not immune to the impact of broader market sell-offs, these two can be good investments to consider.

The post The Best Stocks to Buy With $10,000 Right Now appeared first on The Motley Fool Canada.

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Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.