TSX Today: What to Watch for in Stocks on Friday, May 15

A day after falling sharply, Canadian stocks staged a recovery on Thursday as investors continued to closely monitor earnings releases and geopolitical developments, including U.S. President Donald Trump’s ongoing summit with Chinese President Xi Jinping in Beijing. The S&P/TSX Composite Index rose by 227 points, or 0.7%, to close at 34,268 — extending the benchmark’s quarter-to-date gains to 4.6%.

On the one hand, declines in metals drove mining stocks lower. On the other hand, tech sector gains helped lift the broader TSX benchmark after a Reuters report citing sources indicated the U.S. could clear around 10 Chinese firms, including Alibaba, Tencent, and ByteDance, to potentially purchase Nvidia’s H200 artificial intelligence (AI) chips.

TSX investor sentiment also improved on hopes of stronger U.S.-China business cooperation that could benefit global tech demand and support Canadian tech stocks tied to AI and semiconductor spending trends.

Top TSX Composite movers and active stocks

Quebecor (TSX:QBR.B) jumped by 7.8% to $62.07 per share, making it the top-performing TSX stock for the day. This rally came after the Montréal-based telecommunications and media company released solid first-quarter 2026 results with its revenue rising 3.9% year over year to $1.4 billion and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) growing 4.9% to $576.6 million.

Notably, Quebecor continued to benefit from strong wireless and internet subscriber growth in the latest quarter. Investors also appeared encouraged by management’s optimistic commentary around Freedom Mobile’s expansion and long-term growth momentum, which likely fueled the sharp gains in QBR.B stock.

TFI International, Boyd Group Services, and TerraVest Industries were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 5.7%.

On the flip side, Stantec, Lithium Americas, Manulife Financial, and First Majestic Silver fell by at least 5.4% each, making them the session’s worst-performing TSX stocks.

Based on their daily trade volume, Enbridge, Manulife Financial, B2Gold, Equinox Gold, and Ivanhoe Mines were the five most active stocks on the exchange.

TSX today

Gold, silver, and copper prices fell sharply in early morning trading on Friday, which could continue to pressure TSX mining stocks at the open today.

While no major economic releases are due this morning, Canadian investors will continue to keep an eye on developments from the Trump-Xi summit and renewed tensions near the Strait of Hormuz after reports of a vessel seizure near the UAE coast.

Concerns over potential oil supply disruptions could impact crude prices and Canadian energy stocks, while improving U.S.-China relations may support broader TSX sentiment ahead of the Victoria Day long weekend.

Onex is scheduled to report its latest quarterly results today as Canada’s first-quarter earnings season nears its end.

Market movers on the TSX today

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  More reading

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  Fool contributor Jitendra Parashar has positions in Enbridge and Nvidia. The Motley Fool recommends B2Gold, Enbridge, Nvidia, Stantec, TFI International, Tencent, and TerraVest Industries. The Motley Fool has a disclosure policy.