TSX Today: What to Watch for in Stocks on Wednesday, February 5

More corporate earnings and the U.S. non-farm employment data will remain on TSX investors’ radar today.

| More on:
tsx today

Canadian stocks remained volatile on Tuesday after diving by over 2% in the previous two sessions. Although investors were relieved by the 30-day suspension of U.S. tariffs on Canadian goods, lingering uncertainty around trade negotiations still kept sentiment cautious. Despite rallying by over 200 points in intraday trading, the S&P/TSX Composite Index gave up most of these gains to close the session with a minor 38-point advance at 25,279.

Although strong gains in technology and commodity-linked stocks tried to push the TSX benchmark higher, continued losses in other key sectors like financials and healthcare weighed on overall market sentiment.

Top TSX Composite movers and active stocks

TMX Group (TSX:X) jumped by 8.3% to $49.04 per share, making it the top-performing TSX stock for the day. This rally in TMX stock came after the Toronto-based company reported a 30.5% year-over-year jump in its fourth-quarter revenue to $393.3 million with the help of growth in its derivatives trading, equity trading, and global solutions.

Moreover, favourable foreign exchange movements, increased market activity, and recent acquisitions helped the company post a 29.7% increase in its adjusted quarterly earnings to $0.48 per share, exceeding analysts’ expectations of $0.43 per share. TMX stock is now up 10.7% on a year-to-date basis and offers a 1.6% dividend yield.

Celestica, MDA Space, and First Quantum Minerals were also among the day’s top performers on the Toronto Stock Exchange, with each surging by at least 6.8%.

In contrast, Brookfield Asset Management and Brookfield Corporation slid by at least 3% each, making them the session’s worst-performing TSX stocks.

Based on their daily trade volume, Enbridge, Suncor Energy, Manulife Financial, TD Bank, and Cenovus Energy stood out as the most active stocks on the exchange.

TSX today

Metals prices, especially gold and silver, were trading on a strong bullish note early Wednesday morning, pointing to a higher open for the TSX mining stocks today.

While no major domestic economic releases are due, Canadian investors will closely monitor U.S. non-farm employment, non-manufacturing purchasing managers index, and weekly crude oil stockpiles data this morning.

On the corporate events side, many TSX-listed companies, including ATS, FirstService, Great-West Lifeco, and Suncor Energy, will announce their latest quarterly results on February 5.

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.

Fool contributor Jitendra Parashar has positions in Brookfield, Celestica, Enbridge, Mda Space, and Toronto-Dominion Bank. The Motley Fool has positions in and recommends Brookfield. The Motley Fool recommends ATS Corp., Brookfield Asset Management, Brookfield Corporation, Enbridge, FirstService, and TMX Group. The Motley Fool has a disclosure policy.

More on Stock Market

four people hold happy emoji masks
Stock Market

Trade War: 2 TSX Stocks to Avoid and 2 to Buy Now

Trump's tariff threats are creating havoc for TSX stocks. Here's what kind of stocks to buy and what to avoid…

Read more »

Caution, careful
Stock Market

Trump Tariffs: 1 TSX Stock That Could Take a Huge Hit

BRP Inc. (TSX:DOO) faces a U.S. tariff storm—70% of its production is in Mexico, some in Canada, yet 60% of…

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Tuesday, February 4

As the Trump administration temporarily pauses tariffs on Canada, TSX investors may shift their focus to corporate earnings and updates…

Read more »

clock time
Stock Market

2 Canadian Stock Market Predictions for 2025

Wondering what Canadian stocks could perform well despite the trade war? These stocks could be a solid place to invest…

Read more »

Man data analyze
Stock Market

U.S.-Canada Trade War: Here’s What it Means for TSX Investors

Here’s why the U.S.-Canada trade war may not have a lasting impact on long-term investors despite short-term disruptions and market…

Read more »

Blocks conceptualizing Canada's Tax Free Savings Account
Stock Market

Where to Invest Your $7,000 TFSA Contribution 

The U.S. and Canada trade war is signaling a year of economic downturn. Where could you invest TFSA money in…

Read more »

Start line on the highway
Stock Market

Serious Value: 3 TSX Stocks to Buy in the New Year

Are you looking for some serious value on the TSX? These three stocks could be due for a rebound in…

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Monday, February 3

Escalating U.S.-Canada trade tensions will remain on TSX investors’ radar today as they assess the potential impact of tariffs on…

Read more »