Written By
Nick Raffoul
Nick Raffoul is the Founder and Lead Analyst at Best Canadian Stocks. He graduated with a degree in Business Administration, has over a decade of writing experience, and grew his personal portfolio 153% from 2020 to 2024.
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The TSX week ahead brings a holiday-shortened schedule packed with quarterly results from major energy and financial names, capped by Friday’s July employment data. Canadian investors return to screens Tuesday morning after the Civic Holiday Monday closure, facing a four-day week where corporate earnings will drive the narrative.
Last Week: Index Dips After Tuesday Record
The TSX Composite closed Friday July 31 at 35,226.14, down 279.70 points (−0.79%) on the session and roughly 0.4% lower for the week. Data as of July 31, 2026 market close. The index had set an intraday record of 35,749.70 on Tuesday July 28 before giving back gains through week’s end.
TELUS dominated headlines Friday after cutting its quarterly dividend 55% to $0.1875 from $0.4184 per quarter. Shares fell 11.9% to $13.28, a sharp reminder of the risks facing Canadian dividend stocks when balance sheets come under pressure.
Energy earnings painted a mixed picture. Imperial Oil’s Q2 profit more than doubled, with net income reaching C$2,190 million versus C$949 million a year earlier. Cenovus reported record Q2 results but fell short of analyst expectations.
The US Federal Reserve held its benchmark rate at 3.50–3.75% Wednesday, the fifth consecutive meeting without a move. Domestic rate expectations remain anchored to the Bank of Canada’s next decision on September 2.
Monday August 3: Markets Closed
The TSX observes the Civic Holiday Monday, leaving a four-day trading week. When markets reopen Tuesday morning, investors will immediately turn attention to after-hours earnings releases.
Tuesday August 4: Suncor Reports
Suncor Energy releases Q2 2026 results after market close Tuesday (before 5:00pm MT / 7:00pm ET), with an analyst call scheduled for Wednesday August 5 at 9:30am ET. As one of Canada’s largest integrated energy companies, Suncor typically sets the tone for the broader energy sector. Investors will parse production volumes, refining margins, and capital allocation commentary for clues about the second-half outlook. Market reactions show up Wednesday morning.
Wednesday August 5: Manulife and Nutrien
Wednesday evening brings a double feature. Manulife releases Q2 2026 results after market close, with its conference call scheduled for Thursday August 6 at 8:00am ET. Nutrien also reports Q2 2026 results after the close, holding its call Thursday August 6 at 10:00am EDT. Manulife’s insurance and wealth management performance will offer insight into consumer financial health, while Nutrien’s fertilizer business remains sensitive to global crop prices and planting cycles.
Thursday August 6: Sun Life Rounds Out Financials
Sun Life Financial closes the week’s earnings calendar with Q2 2026 results after market close Thursday. The company schedules its conference call for Friday August 7 at 10:00am ET, meaning investors digest two major data points Friday morning: Sun Life’s operational performance and Statistics Canada’s employment report.
Friday August 7: July Jobs Data
Statistics Canada releases the July Labour Force Survey at 8:30am ET Friday, covering the reference week of July 12–18. RBC Economics forecasts a gain of 5,000 jobs with the unemployment rate holding at 6.5%. June’s report showed an 18,000-job increase and unemployment at 6.5%, down from 6.6% in May. Any meaningful deviation from expectations could influence near-term Bank of Canada rate speculation, though the next decision doesn’t arrive until September 2.
What It Means for Canadian Investors
This week compresses earnings season intensity into four trading days. All four quarterly releases land after market close, meaning Wednesday, Thursday, and Friday mornings carry the weight of market reactions. Energy and financials together represent significant TSX weighting, making this week’s results material for index direction.
The TELUS dividend cut last week underscored that dividend sustainability matters more than yield alone. As Canadian investing apps make it easier to build portfolios, this week’s results offer fresh data points for evaluating which sectors are generating genuine earnings growth versus simply distributing capital.
The Big Six bank earnings arrive August 25–28, giving investors three weeks to digest energy and insurance results before the financial sector heavyweights report. Between now and then, Friday’s employment data and Wednesday’s corporate commentary will shape expectations for consumer and business activity heading into fall.
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Frequently Asked Questions
Why is the TSX closed Monday? The TSX observes the Civic Holiday on the first Monday of August. Most provinces mark the day, though it carries different names across Canada. Markets reopen Tuesday morning for a four-day trading week.
When do the Big Six banks report earnings? Canada’s major banks release Q3 2026 results August 25–28, three weeks after this week’s energy and insurance earnings. Bank earnings typically follow a compressed schedule over a few days.
What should investors watch in Friday’s jobs report? RBC Economics forecasts a 5,000-job gain with unemployment at 6.5%. Any significant surprise could influence market expectations for the Bank of Canada’s September 2 rate decision, though one month of data rarely drives policy alone.
Disclaimer: The content on bestcanadianstocks.ca is for informational and entertainment purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always consult a qualified financial advisor before making investment decisions.
Written By
Nick Raffoul
Nick Raffoul is the Founder and Lead Analyst at Best Canadian Stocks. He holds a degree in Business Administration and has over a decade of writing experience. Nick began investing just before the COVID-19 market crash in March 2020, growing his personal portfolio 153% by 2024. In 2022, he founded Best Canadian Stocks to make data-driven investing accessible to all Canadians. His goal is to help all of his readers achieve financial freedom, maximize their spending power, and reach their financial goals. Whether you're maximizing your TFSA, building an RRSP to save for retirement, or looking to buy your first stock, Nick has your back. His work covers Canadian equities, dividend investing, tax-advantaged accounts, and personal finance.
