TSX Today: What to Watch for in Stocks on Tuesday, September 12

An early morning rally in oil and gas prices is likely to lift TSX energy stocks at the open today.

| More on:
tsx today

Canadian stocks turned positive on Monday to start the new week with optimism, as investors temporarily seemed to look past concerns about more interest rate hikes, leading to a sharp recovery in tech stocks. The S&P/TSX Composite Index inched up by 108 points, or 0.5%, yesterday to settle at 20,183.

Besides shares of technology companies, solid gains in other key market sectors such as healthcare, mining, and financials also contributed to the TSX index rally.

Top TSX Composite movers and active stocks

Shares of BlackBerry (TSX:BB) popped by 14% in the last session to $7.08 per share after crashing by more than 18% last week. Yesterday’s rally in BB stock came after the Waterloo-headquartered tech firm announced the launch of “a new series of BlackBerry Radar® devices — H2M IS — for hazardous materials carriers.”

The new series of its asset tracking solution, BlackBerry Radar, focuses on helping railroads, fuel haulers, tank carriers, and ocean shipping line businesses to move hazardous and explosive materials safely. Notably, last week’s massive selloff in BB stock could be attributed to its weaker-than-expected August quarter preliminary financial results released on September 6. Year to date, BlackBerry is now up 60.5%.

Tilray Brands, Dye & Durham, and Lithium Americas were also among the top-performing TSX stocks on September 11, as they climbed by at least 7% each.

On the flip side, OceanaGold, Filo, Athabasca Oil, and Canadian Natural Resources were the worst-performing stocks on the Toronto Stock Exchange, plunging by at least 2.9% each.

According to the exchange’s daily trade volume data, Canadian Natural Resources, Suncor Energy, Tilray, Baytex Energy, and Toronto-Dominion Bank were the five most active stocks.

TSX today

Crude oil and gas prices were trading on a strong bullish note early Tuesday morning, while metals prices were largely mixed. Given that, you can expect the commodity-heavy TSX benchmark to open with minor optimism today.

While no major domestic economic or corporate releases are due today, TSX investors may still want to remain cautious before the release of the important monthly consumer inflation data from the United States scheduled for Wednesday morning.

Market movers on the TSX today

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 and Tilray Brands. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

More on Tech Stocks

Digital background depicting innovative technologies in (AI) artificial systems, neural interfaces and internet machine learning technologies
Tech Stocks

2 Cheap-Looking Stocks to Could Win in the AI Revolution

It's about time we gave firms like Thomson Reuters (TSX:TRI) a bit more of an AI premium.

Read more »

bulb idea thinking
Tech Stocks

The Smartest Canadian Stock to Buy With $1,000 Right Now

Strong financials, booming demand for its services, and an expanding presence in AI and cloud computing hardware make Celestica the…

Read more »

doctor uses telehealth
Tech Stocks

3 Tech Stocks I’m Looking to Buy in February

These tech stocks will deliver solid gains driven by the deployment of AI and investments in omnichannel commerce and digital…

Read more »

Burning semiconductor CPU
Tech Stocks

Is AMD in Trouble After Wednesday’s Stock Drop?

Shares took a painful hit after the chip designer's fourth-quarter report.

Read more »

An investor uses a tablet
Tech Stocks

If I Could Only Buy and Hold a Single Stock, This Would Be it

Despite more than doubling in value over the last six months, I still find BlackBerry stock undervalued based on its…

Read more »

chip with the letters "AI" on it
Tech Stocks

Celestica Stock Trading at All-Time High: What’s Next?

Celestica stock is beating Nvidia, surging 1,358% since October 2022. Today, it is trading at its all-time high. Is there…

Read more »

dividend growth for passive income
Tech Stocks

2 Growth Stocks That Could Turn $10,000 Into $24,800 by 2030

These resilient growth stocks could grow your money.

Read more »

Credit card, online shopping, retail
Tech Stocks

Where Will Shopify Shares Be in 5 Years?

In addition to Shopify’s consistently growing sales and expanding profit margins, its focus on long-term growth initiatives could help its…

Read more »