TSX Today: What to Watch for in Stocks on Monday, November 20

Rising commodity prices could lift the main TSX index at the open today, as investors await Canada’s consumer inflation numbers.

| More on:
tsx today

The Canadian stock market resumed its rally on Friday with the help of a recovery in crude oil and base metals prices, as investors continued to react positively to the recent weakness in the U.S. inflation data. The S&P/TSX Composite Index climbed up by 123 points, or 0.6%, in the last session to 20,176, its highest closing level in more than eight weeks.

Even as falling precious metals prices pressured shares of gold and silver miners, strong gains in most other market sectors, including healthcare, energy, and consumer cyclicals, drove the index higher. With this, the TSX benchmark ended the week with strong 2.7% gains.

Top TSX Composite movers and active stocks

Park Lawn, Bausch Health, Tilray, Suncor Energy, and Precision Drilling were the top-performing TSX stocks on November 17, as they inched up by at least 3.9% each.

Shares of BlackBerry (TSX:BB) also rose 1.8% to $5.05 per share after announcing key developments related to its cybersecurity segment. In a press release, the Waterloo-based software firm told investors that it has entered “a long-term software and services agreement to strengthen Malaysia’s cybersecurity posture.”

This deal includes providing a full suite of BlackBerry cybersecurity solutions to protect the Malaysian Communications and Multimedia Commission and upskilling the workforce with advanced technology and training on cybersecurity. In addition, the company revealed its plan to build a Cybersecurity Center of Excellence in Kuala Lumpur next year. On a year-to-date basis, BB stock is now up 14.5%.

In contrast, Wesdome Gold Mines, Dundee Precious Metals, Endeavour Silver, and Stella-Jones were the session’s worst performers on the Toronto Stock Exchange, as they slipped by at least 2.6% each.

According to the exchange’s daily trade volume data, Manulife Financial, Suncor Energy, Great-West Lifeco, Crescent Point Energy, and Canadian Natural Resources stood out as the five most active Canadian stocks.

TSX today

Commodity prices were largely bullish early Monday morning, which could help the resource-heavy main TSX index extend its last week’s rally at the open today.

While no major economic releases are due this morning, Canadian investors may remain cautious, as they await the domestic consumer inflation data and the Federal Open Market Committee’s latest meeting minutes, which are expected to be released on Tuesday.

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, Stella-Jones, 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 Energy Stocks

A worker overlooks an oil refinery plant.
Energy Stocks

Top Energy Sector Stocks to Invest in for 2025

Dodge U.S. tariffs! Top Canadian energy stocks including Suncor (TSX:SU) stock offer growing dividends and potential growth in 2025

Read more »

golden sunset in crude oil refinery with pipeline system
Energy Stocks

Trump Tariffs: Are Canadian Energy Stocks Still a Safe Haven for Investors?

Trump tariffs have put Canadian energy stocks in the limelight. These stocks have outperformed post-pandemic. Can they continue doing so?

Read more »

Pumpjack in Alberta Canada
Energy Stocks

Canadian Natural Resources: Buy, Sell, or Hold in 2025?

Here's my take when it comes to CNQ this year.

Read more »

happy woman throws cash
Energy Stocks

Best Stock to Buy Right Now: Brookfield Renewable vs Canadian Solar?

Clean energy stocks such as Brookfield Renewable offer significant upside potential for long-term shareholders in 2025.

Read more »

Trans Alaska Pipeline with Autumn Colors
Energy Stocks

Invest $16,650 in this TSX Stocks for $1,000 in Passive Income

This TSX stock offers a 6% yield and will enable you to earn $1,000 in stress-free passive income with a…

Read more »

Make a choice, path to success, sign
Energy Stocks

2 Sectors That Could Take a Big Hit in a U.S.-Canada Trade War

The potential of a U.S.-Canada trade war has sent shockwaves in the TSX. A few sectors could face the biggest…

Read more »

Canadian energy stocks are rising with oil prices
Energy Stocks

Dividend Investors: Top Canadian Energy Stocks for February

Are Canadian energy stocks worth considering amid the threat of import tariffs from the United States? Let's find the answer.

Read more »

oil pump jack under night sky
Energy Stocks

Better Energy Stock: Brookfield Renewable or Northland Power?

Renewable stocks have a strong outlook, but which of these two are the best to buy?

Read more »