Canadian stocks rose for a second straight session on Wednesday after cooler-than-expected U.S. inflation data for May eased investor concerns and raised hopes that the Federal Reserve could cut interest rates sooner than expected despite ongoing tariff threats. The S&P/TSX Composite Index climbed 98 points, or 0.4%, to settle at 26,524 — surpassing its previous record high and marking a new all-time closing level for the benchmark index.
Despite weakness in consumer staples and utility stocks, renewed buying in other key sectors like consumer discretionary, technology, and healthcare helped drive the TSX to its new peak.
Top TSX Composite movers and active stocks
Dollarama (TSX:DOL) jumped by nearly 10% to $192.99 per share, making it the top-performing TSX stock for the day. This strong rally in DOL stock came after the Canadian value retailer announced its upbeat earnings for the quarter ended April 2025.
Strong demand for consumables and seasonal products led to a 22% year-over-year increase in Dollarama’s adjusted quarterly net profit to $263.4 million, beating analysts’ expectations of $232.8 million. Its adjusted net profit margin also expanded from 15.4% to 17.3% due partly to an unrealized gain related to a derivative investment. In 2025 so far, DOL stock has risen 37.6%.
Celestica, Methanex, and Vermilion Energy were also among the top gainers on the Toronto Stock Exchange, with each climbing by at least 4.8%.
In contrast, Aya Gold & Silver, Ivanhoe Mines, North West Company, and G Mining Ventures slipped by at least 3.2% each, making them the day’s worst-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, Baytex Energy, Suncor Energy, and Manulife Financial were the five most active stocks on the exchange.
TSX today
Spot gold prices edged higher in early Thursday trading, while most other commodities showed mixed performance, which could result in a muted opening for the resource-heavy TSX index today.
With no major domestic economic releases due, Canadian investors will closely monitor the monthly U.S. wholesale inflation report and weekly jobless claims data this morning for fresh signals on the direction of U.S. monetary policy. A cooler-than-expected wholesale inflation figure could reinforce the disinflation narrative and support equity markets, while a surprise uptick may reignite volatility.
Market movers on the TSX today
