The Canadian Vanguard Stock Market Report Weekend April 3-5, 2026 Edition
Stock Markets Gain despite Tough Week of High Volatility
The Canadian Vanguard Stock Market Report is updated regularly during the weekend
The Toronto Market
The Toronto Market Index (as at market close, Thursday April 2)
The S&P/TSX Composite Index rose 150.27 points, or 0.46%, to close at 33,108.22, marking its third consecutive session of gains. This upward momentum is worth monitoring as a potential rally develops.
On Thursday, the Toronto market exhibited relatively low volatility compared to other major indexes.
In the near term, the direction of the Toronto market is likely to be heavily influenced by global oil prices, which are being affected by tensions related to the U.S.–Iran conflict. Notably, the index posted gains despite rising oil prices and ongoing instability in the Middle East.
Thursday’s TSX Market’s Statistics
On the TSX, advancing issues outnumbered declining issues. Specifically, there were 1,251 advancers and 889 decliners, resulting in an advancer-to-decliner ratio of approximately 1.4 to 1 (or roughly seven advancers for every five decliners). An additional 135 issues remained unchanged.
The exchange recorded 41 new 52-week highs and 27 new 52-week lows. This compares with 26 new highs and 25 new lows in the previous session.
Total trading volume on the TSX reached 520,224,326 shares, representing a 3% decline from the 536,678,235 shares traded in the prior session.
Toronto Market Wrap-Up Report
The S&P/TSX Composite Index outperformed several major U.S. indexes during the third and fourth quarters of last year, and current conditions suggest a potential return to that trend, particularly if tensions related to the U.S.–Iran conflict persist longer than anticipated.
It was a challenging week overall for global markets; however, the Canadian market showed relative strength on Thursday, with seven of the ten major sectors closing in positive territory. The Energy sector led the gains, rising 1.75%, followed by Utilities, up 1.01%, and Healthcare, which advanced 0.95%. On the downside, Basic Materials declined 0.40%, while Telecommunications Services was the weakest performer, falling sharply by 4.35%.
With Thursday marking the final trading session of the shortened week, attention turns to weekly performance. Basic Materials emerged as the top-performing sector, gaining 11.96%. Healthcare followed with a 6.67% increase, while Consumer Discretionary (Durable Consumer Goods & Services) rose 3.01%. Overall, the Canadian market posted a solid week, with eight of the ten sectors finishing higher. Energy edged down slightly by 0.08%, and Telecommunications Services declined 5.17%, making them the only sectors to close the week in negative territory.
Smart Trading Perspective: The dominant driver of North American markets remains the ongoing Middle East conflict. Geopolitical tensions introduce uncertainty—something markets typically react to negatively. A consistent outcome since the onset of the conflict has been rising oil prices, which in turn raise concerns about inflationary pressures. This environment may reduce the likelihood of interest rate cuts by the Bank of Canada in the near term.
Given these conditions, a prudent strategy is to prioritize capital preservation rather than aggressive trading. Notably, Canadian equities have generally exhibited less volatility compared to their U.S. counterparts during this period, suggesting a potential tactical shift toward domestic markets. For many retail investors, this may be an opportune time to emphasize Canadian stocks while maintaining more limited exposure to U.S. equities.
Stocks to Watch: Within the Energy sector, Suncor Energy Inc. (TSX: SU), Cenovus Energy (TSX: CVE) and Canadian Natural Resources (TSX: CNQ) have shown relative consistency. In the Financials sector, National Bank of Canada (TSX: NA) is another name worth monitoring or adding to a watchlist.
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The US Markets
U.S. Market Indexes
The Dow Jones Industrial Average declined by 61.07 points, or 0.13%, to close at 46,504.67. The S&P 500 posted a modest gain of 7.37 points, or 0.11%, ending the session at 6,582.69. Meanwhile, the Nasdaq Composite rose 38.23 points, or 0.18%, to finish at 21,879.18. The Russell 2000 Index outperformed its peers, advancing 17.67 points, or 0.67%, to close at 2,530.04.
Market volatility increased compared to the previous few sessions, reflecting heightened investor uncertainty. Markets appeared sensitive to remarks from Donald Trump, with benchmark indexes reacting negatively to geopolitical rhetoric.
Investor sentiment was influenced by statements made during a national address on Wednesday evening, in which Trump signaled a more aggressive stance toward Iran. This contributed to uncertainty and uneven market performance.
Overall, the major indexes closed mixed, with the Nasdaq Composite emerging as the top performer, albeit with more modest gains compared to the prior session. The Dow Jones Industrial Average reversed course from its previous gain, while the Russell 2000 Index largely mirrored its performance from Wednesday.
Thursday’s U.S. Market Statistics
New York Stock Exchange (NYSE): Advancing issues outnumbered declining issues on the NYSE. There were 2,605 advancers, 1,905 decliners, and 303 unchanged issues, resulting in an advancer-to-decliner ratio of approximately 1.36 to 1 (roughly seven advancers for every five decliners).
The exchange recorded 83 new 52-week highs and 136 new 52-week lows. This compares with 83 new highs and 118 new lows in the previous session.
Total NYSE trading volume reached 4,818,473,703 shares, representing a decline from the 6,514,352,917 shares traded in the prior session.
NASDAQ: On the Nasdaq, advancing stocks also outnumbered declining stocks, with approximately seven advancers for every five decliners. There were 2,778 advancers, 1,985 decliners, and 364 unchanged issues, yielding an advancer-to-decliner ratio of about 1.4 to 1.
The exchange reported 88 new 52-week highs and 193 new 52-week lows, compared with 91 new highs and 120 new lows in the previous session.
Total Nasdaq trading volume amounted to 8,445,315,641 shares, down 7% from 9,074,160,014 shares in the prior session.
Commodities and Bonds
All stock market data reflect Thursday’s closing levels, as North American markets were closed on Friday in observance of Good Friday. Trading is set to resume on Monday at 9:30 a.m. ET.
Oil:
Oil prices moved sharply higher on Thursday, with West Texas Intermediate (WTI) crude rising 11% to $111.80 per barrel, marking a five-year high. As of the latest update, U.S. oil prices are slightly lower, down 0.11% at $111.08 per barrel.
Precious Metals:
Gold prices edged lower by $1.40, or 0.07%, to $4,676.40 per troy ounce. Silver declined by $0.31, or 0.42%, to $72.61 per ounce as of 11:00 p.m. ET on Sunday.
Cryptocurrency:
Bitcoin (BTC-USD) is trading higher by $1,841.40, or 2.73%, at $69,161.51 as of the latest update.
10-Year Treasury Yield:
The U.S. 10-year Treasury yield declined by one basis point to 4.31% on Thursday. It has since edged higher to 4.352% as of 11:00 p.m. ET on Sunday.
After-Hours Futures:
Futures markets reopened at 6:00 p.m. ET on Sunday. Dow Jones Industrial Average futures are down 120.00 points, or 0.26%, versus fair value. S&P 500 futures are down 11.25 points, or 0.17%, at 6,612.50, while Nasdaq-100 futures are down 13.50 points, or 0.05%, at 24,203.50 (as of 11:15 p.m. ET, Sunday).
Reminder: Overnight futures movements often have limited correlation with the next regular trading session. All figures reflect market conditions at the time of capture.
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(c) This article is published by The Canadian Vanguard on April 3, 2026
