TSX Today: What to Watch for in Stocks on Friday, December 9

TSX stocks could remain choppy ahead of the U.S. Fed’s upcoming interest rate decision due next week.

| More on:
tsx today

The Canadian equities market went sideways on Thursday, as growing concerns about a looming recession kept investors on their toes. The TSX Composite Index ended the session at 19,969, with a minor decline of four points from its previous closing. Technically, it was the fifth consecutive session of losses for the main Canadian market index. While consumer and industrial stocks witnessed a positive movement, most other key stock market sectors, like technology, real estate, and financials, ended the session in red territory.

Top TSX movers and active stocks

Athabasca Oil, Canopy Growth, Tamarack Valley Energy, Tilray Brands, Corus Entertainment, and Converge Technology were the worst-performing TSX stocks yesterday, as they slipped by at least 3% each.

On the flip side, Parkland, Bausch Health Companies, Canada Goose, Brookfield Business Partners, and Denison Mines inched up by at least 4% each, making them the top performers on the Toronto Stock Exchange.

Based on their daily trade volume, commodity-linked stocks like Suncor Energy, Canadian Natural Resources, Barrick Gold, and Athabasca Oil were the most active stocks on the exchange.

TSX today

Early Friday morning, gold prices were trading on a bullish note, pointing to a higher open for the metal and mining stocks on the TSX today. While no important domestic economic releases are due, Canadian investors may want to watch the monthly U.S. producer price index data this morning.

On the corporate events front, the Montréal-based Laurentian Bank of Canada (TSX:LB) is set to announce its October quarter results before the market opening bell on December 9. Bay Street analysts expect the bank’s quarterly revenue to rise by 5.9% from a year ago to $265.3 million. And Laurentian Bank’s quarterly earnings are estimated to be around $1.24 per share, reflecting a 16.6% year-over-year increase but flat on a sequential basis. Notably, LB stock has seen a 21.7% value erosion in 2022 so far.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

The Motley Fool recommends Canadian Natural Resources. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

More on Metals and Mining Stocks

tsx today
Metals and Mining Stocks

TSX Today: What to Watch for in Stocks on Tuesday, February 7

An overnight recovery in oil prices could help TSX energy stocks open slightly higher today.

Read more »

Nickel ore is mined from the ground.
Metals and Mining Stocks

This Little-Known Materials Company Has Quietly Gained 20% in Just 1 Month

This materials stock has seen revenue explode in the last year alone, causing shares to climb higher and higher. And…

Read more »

A lake in the shape of a solar, wind and energy storage system in the middle of a lush forest as a metaphor for the concept of clean and organic renewable energy.
Metals and Mining Stocks

Is Now the Right Time to Buy Battery Stocks?

The electric vehicle boom is slowing due to supply chain issues. As these issues unfold, is now the time to…

Read more »

tsx today
Metals and Mining Stocks

TSX Today: What to Watch for in Stocks on Monday, February 6

TSX investors may remain focused on corporate earnings and new geopolitical developments today.

Read more »

tsx today
Metals and Mining Stocks

TSX Today: What to Watch for in Stocks on Friday, February 3

Large-cap corporate earnings will continue to be on TSX investors’ radar today.

Read more »

stock market
Metals and Mining Stocks

Why B2Gold Stock Stands out Among TSX Gold Miner Peers

The yellow metal has gained 18% since mid-October, while B2Gold stock has soared 30%.

Read more »

Engineers walk through a facility.
Metals and Mining Stocks

Why Cameco Stock Rose 22% in January 2023: Should You Buy Now?

Cameco (TSX:CCO) stock may be up right now, but how long can that last if uranium proves to be a…

Read more »

People walk into a dark underground mine.
Metals and Mining Stocks

2 Canadian Mining Stocks Worth a Dig in February 2023

These two Canadian mining stocks are among the best options for long-term investors looking to add some defensiveness right now.

Read more »