The S&P/TSX composite index rose above 120 points on May 6, the same day as the Dow Jones industrial average reached an all-time high. The Dow is up just 3.34 points at that time of writing. The industrial, energy, and technology sectors supported Canadian economic growth. The company, called Shopify, has seen over a ten percent gain over the previous week and a half. It has outperformed the S&P 500, which has been underperforming. Enbridge posted a billion-dollar profit in the quarter that ended in March. Magna International is moving quickly into Artificial Intelligence and Machine Learning to power next-generation vehicles. The return of the demand for autos has increased the auto parts suppliers’ sales.
Here is Insider Monkey’s list of the 10 best TSX stocks to buy right now. The Goodfood Corporation is an internet grocery and meal kit retailer based in Montreal, ranked 10th on the list of the top TSX stocks to buy. Investors will get an impressive 76% in value in the next year. In the year 1988, Kirkland Lake Gold Ltd. was founded in Toronto. Also, the firm is in Australia. Kirkland’s profits have increased by about 7% as a result of the pandemic filtering regulations. The eighth best TSX stock to buy is Lightspeed Inc. Over the last year, Lightspeed has returned to investors more than 219% of their investment in Canadian retailers and eateries. Pembina Corporation is a Calgary-based pipeline company. It is expected to garner over $4.7 billion in revenue in 2020. Investors in Pembina have offered more than 41% in profit. Calgary-based Suncor Energy Inc. is well-known for refining synthetic crude from oil sands. It has made our list of the 10 best buys on the TSX. Suncor markets crude and international businesses and the facility also includes four wind farms. Read more on this in the article 10 Best TSX Stocks to Buy Right Now.
