The Canadian stock market notched a fresh all-time high for a third consecutive session on Thursday, as better-than-expected U.S. labour market data and signs of easing trade tensions lifted confidence in the economic outlook and further fueled hopes for a soft landing. The S&P/TSX Composite Index climbed by 165 points, or 0.6%, to 27,034 – marking its first-ever close above the psychologically important 27,000 level.
Despite weakness in some healthcare stocks, solid gains in most other key sectors, including technology, consumer staples, and financials, propelled the index to new highs, reinforcing investors’ confidence heading into the second half of the year.
Top TSX Composite movers and active stocks
Cargojet (TSX:CJT) jumped 8.5% to $109 per share, making it the top-performing TSX stock for the day. The surge in CJT stock came after the Canadian air cargo services firm announced a four-year extension of its air transportation services agreement with Amazon Canada, securing the partnership through March 2029.
The deal also includes an option for Amazon to renew the contract until 2031, reflecting Cargojet’s role as a key logistics partner in Amazon’s Canadian network. The extended deal gave investors greater confidence in the company’s future revenue stability and long-term growth prospects, leading to a rally in CJT stock. However, the stock has still lost nearly 22% of its value over the last year.
CES Energy Solutions, TerraVest Industries, and Celestica were also among the top gainers on the Toronto Stock Exchange, with each rising by at least 3.6%.
In contrast, Boyd Group, Ero Copper, Energy Fuels, and Capstone Copper slid by at least 2.9% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, TD Bank, TC Energy, Scotiabank, Cenovus Energy, and BCE were the five most active stocks on the exchange.
TSX today
Crude oil and base metals prices fell sharply in early trading on Friday, while gold prices showed minor strength. Given these mixed signals, the commodity-heavy TSX Index could open on a cautious note today, with sector performance likely to diverge based on underlying commodity trends.
With no major domestic economic releases due this morning and the U.S. market closed for the Independence Day holiday, trading volumes on the TSX are expected to remain light. This could limit sharp intraday moves and keep the index largely range-bound through the session.
Market movers on the TSX today
