TSX Today: What to Watch for in Stocks on Monday, June 10

TSX stocks may remain volatile as investors adjust their positions in anticipation of the Fed’s upcoming interest rate decision on Wednesday.

| More on:
tsx today

An intraday selloff in metals prices and higher treasury bond yields drove Canadian stocks downward on Friday as investors turned cautious ahead of the Federal Reserve’s much-awaited interest rate decision. The S&P/TSX Composite Index plunged by 222 points, or 1%, in the last session to settle at 22,007, marking its worst single-day performance so far in June.

While all key market sectors ended the session in red, shares of metal mining, real estate, and energy companies fell the most, pressuring the TSX benchmark.

Top TSX Composite movers and active stocks

IAMGOLD, Eldorado Gold, Pan American Silver, New Gold, and First Majestic Silver were the worst-performing TSX stocks for the day as they dived by more than 7% each.

Despite the broader market weakness, Saputo (TSX:SAP) inched up by 6.8% to $29.84 per share, making it the day’s top performer on the Toronto Stock Exchange. This rally in SAP stock came a day after the Montréal-based dairy products firm announced its slightly better-than-expected quarterly financial results.

After declining for three consecutive quarters on a year-over-year basis, Saputo’s total revenue climbed by 1.7% to $4.5 billion in the quarter ended in March 2024. The company’s adjusted quarterly earnings slipped by 21.3% from a year ago to $0.37 per share due partly to inflationary pressures but exceeded Street analysts’ expectations. SAP stock now trades with 11.2% year-to-date gains and offers a 2.5% annualized dividend yield.

North West Company and Secure Energy Services were also among the session’s top-performing TSX stocks, rising by at least 4.5% each.

Based on their daily trade volume, Suncor Energy, Manulife Financial, Canadian Natural Resources, Enbridge, and Telus were the five most active stocks on the exchange.

TSX today

After sliding sharply in the last session, commodity prices across the board staged a recovery early Monday morning, pointing to a slightly higher opening for the resource-heavy main TSX index today.

While no major economic releases are due this morning, Canadian stocks may still remain volatile as investors adjust their positions in anticipation of the Fed’s upcoming interest rate decision on Wednesday.

On the corporate events front, the TSX-listed Enghouse Systems will release its latest earnings report today after the market closing bell. Bay Street expects the Canadian software solutions provider to post earnings of $0.36 per share for the April quarter with a revenue of $123.2 million.

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 has positions in and recommends Enghouse Systems. The Motley Fool recommends Canadian Natural Resources, Enbridge, North West, and TELUS. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

More on Stock Market

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Monday, March 24

With a strong 1.7% gain, the TSX Composite Index just posted its best weekly performance since November 2024.

Read more »

stocks climbing green bull market
Tech Stocks

Market Volatility? A Canadian Investor’s Guide to Turning Uncertainty Into Profit

Volatile stock markets are a long-term wealth-building opportunity. Here's how you can profit from uncertainty.

Read more »

a sign flashes global stock data
Stock Market

My Zaniest Stock Market Predictions for 2025 

Understand the economic prediction for 2025 and the potential rebound in sectors hit by tariffs. Read more for analysis.

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Friday, March 21

With 2.1% week-to-date gains, the TSX Composite Index seems on track to end a two-week losing streak, supported by investors’…

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Thursday, March 20

The TSX Composite just posted its largest single-day points gain in over 15 months, supported by U.S. rate cut hopes…

Read more »

protect, safe, trust
Stock Market

Stock Market Correction: 3 Safe-Haven Stocks to Own Right Now

If you're looking for stability in these volatile times, then these three stocks might be up your alley.

Read more »

Piggy bank in autumn leaves
Stock Market

TFSA: Savvy Ways to Invest Your 2025 Contribution

Are you wondering what to do with your TFSA right now? Here are some tips on how to invest your…

Read more »

dividend growth for passive income
Stock Market

5 Cheap Canadian Stocks to Buy Right Now With $5,000

Here's why investing in these five cheap TSX stocks can help Canadians deliver outsized gains in 2025 and beyond.

Read more »