TSX Today: What to Watch for in Stocks on Wednesday, June 12

TSX stocks could see big moves today as investors eye the Fed’s monetary policy event and the U.S. consumer inflation report and the Bank of Canada governor Tiff Macklem’s speech.

| More on:
tsx today

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Canadian equities traded on a weak note on Tuesday as investors turned cautious before the release of the important U.S. consumer inflation report and the Federal Reserve’s monetary policy event. The S&P/TSX Composite Index plunged by 182 points, or 0.8%, yesterday to settle at 21,887 — its lowest closing level in over a month.

While most main market sectors ended the session in red, the TSX selloff was mainly driven by heavy losses in healthcare, mining, and financial stocks.

Top TSX Composite movers and active stocks

Advantage Energy, NexGen Energy, Cameco, and Denison Mines were the worst-performing TSX stocks for the day, diving by more than 5% each.

On the positive side, shares of Enghouse Systems (TSX:ENGH) climbed by 4.7% to $30.54 per share, making it the session’s top-performing TSX stock. This rally in ENGH stock came a day after the Markham-based enterprise software solutions company announced its second-quarter financial results.

Created with Highcharts 11.4.3Enghouse Systems PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.ca

In the quarter ended in April 2024, Enghouse’s total revenue surged by 10.9% year over year to $125.8 million with the help of strong growth in its recurring revenue. Also, new acquisitions helped the company post a solid 56.5% increase in its quarterly adjusted earnings from a year ago to $0.36 per share. Despite the recent recovery, however, ENGH stock is still down 4.7% year to date and offers a 3.6% annualized dividend yield.

MDA Space and Cargojet were also among the top performers on the Toronto Stock Exchange as they rose by at least 1.9% each.

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

TSX today

West Texas Intermediate crude oil futures prices continued to climb for the third consecutive session early Wednesday morning, pointing to a slightly higher opening for TSX energy stocks today.

Moreover, the TSX index may remain highly volatile as investors react to the latest U.S. consumer inflation data scheduled to be released before the market opening bell today. Besides Bank of Canada’s governor Tiff Macklem’s speech, Canadian investors will closely monitor the U.S. Fed’s interest rate decision, press conference, and latest economic projections this afternoon, which could give further direction to stocks.

In another key development, the National Bank of Canada revealed its intentions to acquire Canadian Western Bank for a valuation of about $5 billion. The news about the deal, which is expected to close by the end of 2025 after receiving shareholder and regulatory approvals, could lead to higher volatility in these bank stocks.

On the corporate events side, the TSX-listed value retailer Dollarama is likely to announce its April quarter results on June 12. Bay Street analysts expect the company to post quarterly earnings of $0.76 per share with $1.4 billion in revenue.

Market movers on the TSX today

Should you invest $1,000 in Enghouse Systems right now?

Before you buy stock in Enghouse Systems, consider this:

The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Enghouse Systems wasn’t one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $20,697.16!*

Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 29 percentage points since 2013*.

See the Top Stocks * Returns as of 3/20/25

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 Cargojet and Enghouse Systems. The Motley Fool recommends Cameco, Canadian Natural Resources, TELUS, and Canadian Western Bank. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

Confidently Navigate Market Volatility: Claim Your Free Report!

Feeling uneasy about the ups and downs of the stock market lately? You’re not alone. At The Motley Fool Canada, we get it — and we’re here to help. We’ve crafted an essential guide designed to help you through these uncertain times: "5-Step Checklist: How to Prepare Your Portfolio for Volatility."

Don't miss out on this opportunity for peace of mind. Just click below to learn how to receive your complimentary report today!

Get Our Free Report Today

More on Stock Market

Hourglass and stock price chart
Stock Market

How I’d Invest $2,000 in 2 Canadian Stocks as Trump Tariffs Impact Markets

Trump tariffs have made many investors fearful and value investors greedy. These stocks can help you benefit from the current…

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Friday, April 11

A fresh record rally in gold could give TSX mining stocks a boost at the open today, with investors eyeing…

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Thursday, April 10

In addition to the important U.S. consumer inflation report, TSX investors will also keep a close eye on developments related…

Read more »

Aircraft Mechanic checking jet engine of the airplane
Stock Market

How I’d Invest $9,200 in Canadian Aerospace Stocks to Send My Net Worth Soaring

Undervalued Canadian aerospace stocks such as Bombardier offer significant upside potential to investors in April 2025.

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Wednesday, April 9

As U.S. tariffs on most of its key trade partners, including China, take effect today, TSX stocks could continue to…

Read more »

Oil industry worker works in oilfield
Stock Market

3 Undervalued Canadian Stocks I’d Buy and Hold for Decades

Investing in quality undervalued stocks such as Martinrea and Cascades should help you generate outsized gains in 2025 and beyond.

Read more »

Beware of bad investing advice.
Dividend Stocks

Where I’D Invest $1,000 in 3 No-Brainer Canadian Stocks Under $150

Want to invest $1,000 in some great stocks? Here's a trio that investors can buy at a discount right now…

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Tuesday, April 8

A minor overnight recovery in commodity prices could give the TSX a steadier open today as investors continue to closely…

Read more »