TSX Today: What to Watch for in Stocks on Thursday, July 3

With the TSX at record levels, focus moves to U.S. job data today, as markets south of the border shut early ahead of Independence Day.

Jitendra Parashar

Author Bio Jitendra Parashar is a financial journalist who has been writing for The Motley Fool Canada since June 2020. With more than 13 years of experience in financial journalism, equity research, and market analysis, he helps investors understand market developments and identify long-term investment opportunities. Before joining The Motley Fool Canada, Jitendra spent several years at Market Realist covering U.S. equities, major economic developments, and developments in the automotive and technology industries. He also worked in commodity and currency research at brokerage firms, gaining insight into how economic trends, central bank decisions, and geopolitical events influence financial markets. Jitendra writes for beginner investors, dividend seekers, and Canadians looking to build wealth over the long term. He also contributes to the daily TSX Today series, explaining key Canadian market developments and highlighting news investors should watch. Based in India, Jitendra follows Canadian and U.S. markets closely. Outside of work, he enjoys travelling in the Himalayas, street and nature photography, and exploring programming and artificial intelligence. Education MBA in Finance and International Business Bachelor's degree in Journalism Areas of Expertise Canadian and U.S. financial markets, long-term equity investing, dividend investing, macroeconomic and geopolitical trends, automotive stocks, emerging technologies, and artificial intelligence. Social Media Profiles LinkedIn Muck Rack Favorite Investment Quote “Simplicity is the master key to financial success.” — John C. Bogle

Published July 3, 2025 9:05 am EDT

After ending the second quarter with a solid 7.8% gain, Canadian stocks started the new quarter on a slightly positive note as firm commodity prices and renewed hopes of more Fed rate cuts in the near term helped lift investor sentiment. The S&P/TSX Composite Index advanced by 13 points on Wednesday to close at a fresh all-time high of 26,870.

Despite weakness in some sectors like consumer staples and utilities, solid gains in healthcare, consumer discretionary, and mining stocks lifted the TSX benchmark to its second consecutive record close.

Top TSX Composite movers and active stocks

Bombardier (TSX: BBD.B) rallied by 21.4% to $143.99 per share, making it the top-performing TSX stock for the day. The surge came after the company announced a strong firm order for 50 Challenger and Global jets, alongside a first-of-its-kind maintenance services partnership. The combined value of the order and service agreement is US$1.7 billion, with deliveries set to begin in 2027.

Investors saw this order as a clear vote of confidence in Bombardier’s aircraft lineup and global support network. Adding to the bullish sentiment, Bank of Montreal and National Bank of Canada raised their price targets on Bombardier stock, triggering renewed buying interest.

NovaGold Resources, Energy Fuels, and Magna International were also among the top gainers on the Toronto Stock Exchange, with each climbing by at least 7.8%.

On the flip side, BlackBerry, Waste Connections, GFL Environmental, and Cameco fell by at least 3.7% each, making them the session’s worst-performing TSX stocks.

Based on their daily trade volume, Toronto-Dominion Bank, TC Energy, Cenovus Energy, Suncor Energy, and Whitecap Resources were the five most active stocks on the exchange.

TSX today

Commodity prices were largely mixed in early trading on Thursday, pointing to a flat opening for the resource-heavy main TSX index today.

While no major domestic economic releases are due, Canadian investors may want to closely monitor the unemployment rate and non-farm payrolls data from the United States this morning, as the data could influence broader North American market sentiment.

Note that the U.S. market will close early on Thursday and remain closed on Friday for the Independence Day holiday, which could result in lighter trading volumes on both sides of the border.