TSX Today: What to Watch for in Stocks on Friday, September 6

The important jobs data from the United States and Canada could give further direction to TSX stocks today.

| 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 stocks continued to trade on a weak note for the third consecutive session despite a minor recovery in commodity prices, as significantly weaker-than-expected U.S. non-farm employment figures made investors worried about the near-term economic outlook. As a result, the S&P/TSX Composite Index slipped by 52 points, or 0.2%, to settle at 22,988.

Even though mining and utility stocks showed strength, heavy losses in other key market sectors, including consumer cyclicals and industrials, weighed on the TSX benchmark, extending its week-to-date losses to 1.5%.

Top TSX Composite movers and active stocks

First Majestic Silver (TSX:AG) dived by more than 8% to $6.56 per share, making it the worst-performing TSX stock for the day. This selloff in AG stock came after the Vancouver-based precious metals miner revealed its intentions to acquire Gatos Silver in a deal valued at around $970 million.

Created with Highcharts 11.4.3First Majestic Silver PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.ca

According to their merger agreement, Gatos shareholders will receive 2.550 shares of First Majestic for each Gatos share, reflecting a 16% premium. First Majestic expects this deal, which is likely to close in early 2025, to improve its production profile and free cash flow by consolidating three major silver-producing districts in Mexico. On a year-to-date basis, First Majestic stock is now down 19.3%.

Canada Goose, BRP, and Descartes Systems were also among the day’s bottom performers on the Toronto Stock Exchange, with each falling by at least 3.5%.

On the flip side, shares of Primo Water (TSX:PRMW) rallied by nearly 9% to $32.21 per share after it, along with BlueTriton Brands, jointly announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, which was the key condition in their all-stock merger. After getting all necessary regulatory and shareholder approvals, the transaction is now expected to close by the end of 2024.

North West Company, IAMGOLD, and OceanaGold were also among the top-performing TSX stocks yesterday as they climbed by at least 3.9% each.

According to the exchange’s daily trade volume data, Suncor Energy, Canadian Natural Resources, Cenovus Energy, Osisko Mining, and Enbridge stood out as the most active stocks.

TSX today

Commodity prices were largely mixed early Friday morning, pointing to a flat opening for the resource-heavy main TSX index today.

Besides domestic unemployment rate and employment change data, Canadian investors will closely monitor the important jobs report from the United States this morning, which could give further direction to stocks.

On the corporate events side, BRP will release its latest quarterly earnings report on September 6. Bay Street analysts expect the powersports vehicles and marine products maker to post earnings of $0.45 per share for the July quarter, with $1.88 billion in revenue.

Market movers on the TSX today

Should you invest $1,000 in Bausch Health Companies right now?

Before you buy stock in Bausch Health Companies, 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 Bausch Health Companies 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.

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

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

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 »

shopper buys items in bulk
Bank Stocks

How I’d Allocate $1,000 in Domestic Stocks in Today’s Market

Got $1000? Here's how I'd play the tariff war with Canadian domestic stocks this April! Royal Bank of Canada (RBC)…

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Monday, April 7

With a 6.3% weekly loss, the TSX just posted its steepest percentage decline in a single week since June 2022.

Read more »

A bull and bear face off.
Stock Market

Bear Market Bargains Emerge as Recession Stocks Return

If you want a deal, then go to the best stocks during a recession market dip.

Read more »