TSX Today: Why Canadian Stocks Could Rally on Monday, September 8

The TSX closed above 29,000 for the first time Friday, and surging commodities could fuel more gains at the open today.

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 September 8, 2025 9:02 am EDT

Canadian equities continued to surge for the eighth session in a row on Friday as weak labour market data from both sides of the border strengthened the case for interest rate cuts, fueling a broad-based rally. The S&P/TSX Composite Index advanced by 135 points, or 0.5%, to 29,051 — crossing the 29,000 level for the first time to close at a fresh record high, while also capping its longest winning streak in over three months.

Despite intraday weakness in industrial stocks, solid gains in other key sectors, like healthcare, technology, and mining, pushed the TSX to another strong finish, extending the market’s upward trend. With this, the Canadian market concluded its fifth consecutive winning week.

Top TSX Composite movers and active stocks

Celestica (TSX: CLS) climbed by nearly 10% to $336.26 per share, making it the day’s top-performing TSX stock. This rally in CLS stock came after the Toronto-based tech manufacturer unveiled its new SC6110 enterprise storage controller to deliver peak performance, high availability, and easy scalability.

Focused on mission-critical workloads like artificial intelligence (AI) infrastructure, high-frequency trading, and high-performance computing, this launch clearly reflects Celestica’s continued efforts to tap into surging demand for data-heavy enterprise solutions. On a year-to-date basis, CLS stock is now up over 150%.

Equinox Gold, Triple Flag Precious Metals, and Teck Resources were also among the top gainers on the Toronto Stock Exchange, with each climbing by more than 5%.

On the flip side, Enghouse Systems (TSX: ENGH) dived by 8.3% to $20.95 per share after it posted weaker-than-expected July quarter results, with its adjusted earnings falling over 16% due largely to macroeconomic uncertainty, higher costs, and $3 million in special restructuring charges.

Athabasca Oil, ARC Resources, and Canadian Natural Resources also slid by at least 3.1% each, making them among the worst-performing TSX stocks.

Based on their daily trade volume, Canadian Natural Resources, Suncor Energy, Cenovus Energy, Manulife Financial, and Equinox Gold were the most active stocks on the exchange.

TSX today

Commodity prices across the board surged in early Monday trading, with spot gold prices crossing above the US$3,600 mark for the first time, while crude oil and silver also posted sharp early gains. The rally in commodities could provide a lift to the resource-heavy TSX at the open today.

While no major economic releases are due this morning, the TSX-listed North West Company will release its latest quarterly earnings report after the market closing bell. Bay Street analysts expect the company to post earnings of $0.79 per share for the July quarter with $641.9 million in revenue.