TSX Today: What to Watch for in Stocks on Monday, May 4

Canadian stocks went sideways on Friday as investors continued to closely monitor corporate earnings and assess the broader impact of elevated oil prices and persistent geopolitical tensions. A day after jumping 1.9%, the S&P/TSX Composite Index fell by 73 points, or 0.2%, to settle at 33,891 — concluding the week with a minor decline of 13 points.

Even as technology stocks showed strong buying, declines in most other key market sectors, including healthcare, mining, and energy, dragged the TSX benchmark down.

Top TSX Composite movers and active stocks

Fairfax Financial, Magna International, goeasy, and Imperial Oil were the worst-performing TSX stocks for the day, with each slipping by more than 4%.

On the brighter side, shares of Badger Infrastructure Solutions (TSX:BDGI) jumped more than 19% to $78.36 apiece after the Calgary-based company posted strong first-quarter results. Its revenue rose 18% year over year in the latest quarter to US$203 million, while adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 13% to US$38.1 million.

Badger’s revenue per truck per month also climbed 11% from a year ago, reflecting stronger fleet utilization and solid customer demand. BDGI stock rallied as investors welcomed the company’s strong growth, upbeat demand outlook, and plans to increase fleet capacity in 2026.

Aya Gold & Silver, 5N Plus, and AbraSilver Resource also climbed by 6% each, making them among the session’s top gainers on the Toronto Stock Exchange.

Based on their daily trade volume, Canadian Natural Resources, Whitecap Resources, Air Canada, ARC Resources, and TC Energy were the five most active stocks on the exchange.

TSX today

After declining for two consecutive sessions, West Texas Intermediate crude oil futures prices jumped above US$105 per barrel again in early trading on Monday, pointing to a potentially stronger start for energy stocks on the TSX today.

However, recent developments in the Middle East could add further volatility to energy markets as reports suggest the U.S. has launched a new initiative to help guide stranded ships through the Strait of Hormuz. With this move, the U.S. expects to ease supply bottlenecks, but it has also drawn warnings from Iran, highlighting the fragile security situation in the region.

For TSX investors, this could keep energy stocks in focus as any disruption — or improvement — in shipping flows may quickly impact oil prices. At the same time, the possibility of renewed tensions or military escalation continues to pose downside risks for broader market sentiment.

While no major economic releases are due this morning, Canadian investors will continue to closely watch corporate earnings. Several TSX-listed companies, including Ero Copper, Gibson Energy, Cargojet, RioCan REIT, TMX Group, RB Global, Labrador Iron Ore Royalty, and InterRent REIT, are slated to announce their latest financial results today.

Market movers on the TSX today

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  More reading

  • Canada’s Infrastructure Boom: 3 TSX Stocks I’d Buy Now
  • This Mid-Cap Stock Surged Nearly 103% Last Year – It’s Still Dirt Cheap

  Fool contributor Jitendra Parashar has positions in Air Canada, Canadian Natural Resources, and Magna International. The Motley Fool has positions in and recommends Fairfax Financial. The Motley Fool recommends Air Canada, Canadian Natural Resources, Cargojet, Gibson Energy, Magna International, TMX Group, and Whitecap Resources. The Motley Fool has a disclosure policy.