TSX Today: What to Watch for in Stocks on Tuesday, December 24

The TSX could see muted activity with lower volumes today before closing early for the Christmas and Boxing Day holidays.

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A better-than-expected domestic GDP (gross domestic product) growth data and largely firm commodity prices helped Canadian equities start the new week on a positive note, even as weak U.S. consumer confidence numbers kept investors cautious. The S&P/TSX Composite Index climbed by 150 points, or 0.6%, on Monday to settle at 24,749, extending its year-to-date gains to over 18%.

While some consumer cyclical and real estate stocks saw slight declines, strong intraday gains in sectors like healthcare, energy, and mining helped the TSX index extend its rally for a second day after six straight losing sessions.

Top TSX Composite movers and active stocks

Tilray, Birchcliff Energy, Paramount Resources, and Advantage Energy were the top-performing TSX stocks for the day, with each climbing by over 5%.

On the flip side, BRP, Superior Plus, and Crombie Real Estate Investment Trust fell by at least 2.6% each, making them the day’s bottom performers on the Toronto Stock Exchange.

Shares of Rogers Communications (TSX:RCI.B) also turned bearish after the Competition Bureau filed a lawsuit alleging the company misled customers with claims of unlimited data on its Infinite plans. According to the Bureau, these plans impose data caps, with speeds throttled by over 99% after limits are reached, contrary to the advertised promise of limitless data usage.

Created with Highcharts 11.4.3Rogers Communications PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.ca

The legal action against Rogers seeks to stop the ads, impose penalties, and provide restitution to affected customers. Notably, the Canadian telecom and media company has already been under pressure in 2024, as its share price has declined by 29.2% year to date, due mainly to concerns over slowing revenue growth and increased competition in the telecom sector.

Based on their daily trade volume, Canadian Natural Resources, Power Corporation of Canada, Suncor Energy, TC Energy, and Veren were the five most active stocks on the exchange.

TSX today

Precious metals prices showed slight gains early Tuesday morning, while most other commodity prices held steady. These mixed signals could keep the commodity-heavy main TSX index largely flat at the open today.

While U.S. new home sales data is on investors’ radar today, Canadian markets could see muted activity with lower volumes before closing early for the Christmas and Boxing Day holidays.

Market movers on the TSX today

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